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When major medical coverage is unavailable or unaffordable a fully insured Defined Benefit Medical Plan may be an alternative worth considering.
Defined Benefit Medical Plans are…
Designed to help pay the smaller, more common claims for medical services the majority of people tend to use the most, such as: Physician office visits, minor accidents, short hospital admissions, lab & diagnostic and the cost of prescription drugs. There are no co-pays or network restrictions, participants can choose to see any healthcare provider of their choice. These plans are not designed to cover catastrophic claims nor be a comparable replacement for Major Medical Insurance.
Defined Benefit Medical Plans are…
Designed to help pay the smaller, more common claims for medical services the majority of people tend to use the most, such as: Physician office visits, minor accidents, short hospital admissions, lab & diagnostic and the cost of prescription drugs. There are no co-pays or network restrictions, participants can choose to see any healthcare provider of their choice. These plans are not designed to cover catastrophic claims nor be a comparable replacement for Major Medical Insurance.
Why Select A Defined Benefit Medical Plan?
Value to Employers:
- Offers an innovative way to improve employee benefits packages and extend coverage to all employees in a competitive hiring market
- Helps employers contain benefit costs by encouraging greater employee involvement in managing their employee benefits
- No participation or financial contribution requirements
- Simplified enrollment and administration processes
Value to Insured:
- Delivers benefits to help cover out-of-pocket health care costs for employees who either have no insurance coverage or who need to bridge coverage gaps
- Pays first-dollar, cash benefits directly to employees to spend as they wish
- Provides the ease and savings of buying affordable coverage with pretax payroll deductions
- Includes a discounted network of doctors and hospitals to help benefit dollars go further
- Offers coverage for spouses and dependent children
- Guaranteed issue
Key Program Attributes:
- An innovative, cost-effective response to the demands of today’s workplace
- A wide array of the most wanted employee benefit coverage in one package
- Easy employer customization—from maximum coverage to maximum affordability
- First-dollar benefits paid directly to employees to use as they choose
- Cutting-edge technology, administration and service to make it all work