The health plan regulations of the Affordable Care Act caused many companies offering special medical reimbursement products to discontinue offering their programs. Those programs fell victim to new health plan provisions.
- However, as an exception, a Supplemental Health Insurance Plan (”SHIP”) for executives remains available in the post-reform environment.
A “SHIP”:
- Provides supplemental coverage for any medical, Rx, dental or vision care services for up to $100,000 annually
- Results in executives virtually having to pay $0 for healthcare expenses, including:
co-payments
co-insurance
out-of-pocket expenses for care not covered by the basic healthcare plan
A “SHIP”:
- Demonstrates to your executives (and their families) the special value you place on their contributions to the success of the company
- Helps you attract and retain top talent in senior level positions
- Represents one of the most appreciated benefits for executives
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In a survey of executives, a “SHIP” was valued more highly than their company-provided vehicle—which is typically thought of as the top executive perk
RECOMMENDED EMPLOYER ACTION
- Look at what special benefits or perks your executives receive
- Consider the positive impact of their having a supplemental health insurance plan
- Learn more by emailing Trinityat info@TrinityHR.net
TRINITY CAN HELP YOU
- Understand how a “SHIP” works & its cost
- Evaluate if it’s a fit for your company
- Implement the right plan
- Communicate the plan to executives