Did You Know?

OUR PLAN:
ExecSelect is a fully insured, supplemental health and wellness plan that can be offered to all, or a select class of employees. This is a perfect choice for Sub-chapter S Corps or Family-owned businesses. The plan covers eligible out-of-pocket healthcare expenses for the selected employees, his/her spouse or domestic partner and children up to age 27.

A TAX-ADVANTAGED BENEFIT:
ExecSelect offers significant tax advantages to both the business and the covered employees. Unlike pay or bonus, the payments made to insureds for reimbursement of their eligible OOP medical expenses will typically be excluded from gross income. Additionally, the premiums paid are considered a tax deductible expense to the employer.

WAITING PERIODS OR LIMITS ON PRE-EXISTING CONDITIONS:
With ExecSelect, there are no limitations on pre-existing conditions for the covered employee, and there is no waiting period for an employer to be approved for plan participation. If an employer’s underlying health care plan meets our eligibility requirements, the designated employee or participant is promptly approved for plan participation.

MEDICAL EXPENSES ELIGIBLE FOR COVERAGE:
ExecSelect covers expenses not typically covered by most underlying medical plans, including. Charges for infertility diagnosis; Dental and orthodontic expenses; Smoking cessation programs; Certain non-prescription drugs, including insulin; and much more. See a list of eligible expenses.

View our Plan

Top 5 Ways Brokers Can Shield Client’s Coverage from Inflation

by Michael Wayne, Rough Notes
From August 1945 to July 1946, prices in Hungary doubled every 15 hours. The daily inflation rate reached a high of 207%. While such hyperinflation is not what we are experiencing today, inflation feels like an inescapable constant. Costs are rising seemingly everywhere, and insurance is not immune.

Insurance coverage is put in place to help protect clients from threats and to make them as whole as possible in the event of an incident. Coverage solutions, therefore, need to be as robust as possible. That has always been the case.

Inflation, however, creates challenges. Challenges provide brokers and agents opportunities to form lifelong partnerships. Here are the Top 5 ways brokers can shield clients’ coverage from inflation:

Clients love a superhero who swoops in after the fact to save them from a crisis. They think even more highly of a superhero who ensures they’re always ready...

Proactive protection
Clients’ needs are not set in stone. Annual, even bi-annual, reviews of coverage limits are necessary to know whether they are in line with costs. From construction materials to vehicle repairs, everything has to be taken into consideration.

The days when a client would be satisfied seeing their broker once a year to sign some paperwork are over. Just like computers or smartphones require regular updates to remain secure and efficient, policies need reviews to ensure their viability. Brokers should proactively schedule reviews and highlight the importance of staying ahead of inflation. This proactive approach demonstrates a commitment to a client’s financial well-being and helps solidify the broker as a trusted advisor.

Know your numbers, know your market
In this environment, brokers need to be valuation experts. Staying informed about current market values for homes, vehicles, and business inventory is crucial. Educated guesses aren’t enough. Brokers have to leverage appraisal services, market data, and industry insights.