In our experience, brokers have also benefited from the product's value in helping them gain access to C-level executives in prospective companies. The ArmadaCare program has been the foot-in-the-door that eventually earned them other business as well.
Baltimore, Maryland (PRWEB) August 29, 2007
ArmadaCare, the Managing General Underwriter for a new medical reimbursement program insured and underwritten by A+ rated Monumental Life Insurance Company has announced the availability of the program in over 40 states. This new program has been designed to meet the needs of today's benefits and regulatory environment and to provide an important tool for corporations in retaining top company performers.
Compliant with section 105 (h) of the Internal Revenue Code, the ArmadaCare medical reimbursement program can be provided on a selected basis to classes or groups of employees without affecting the tax advantaged status for the company and its employees.* The unique fully insured, full risk transfer premium structure of the program minimizes regulatory risk for both brokers and their clients, an important feature in today's regulatory climate.
Brokers and advisers can use the Executive Health Reimbursement plan by ArmadaCare as a tool to optimize the healthcare spend for their clients. The program is in step with current cost shifting and consumer driven trends, coordinating with most major medical plans including high deductible plans. It provides companies with long term flexibility in their strategic benefits planning, yet keeps executive coverage constant by covering whatever gap in coverage that is created. Additionally, the program includes coverage for high-perceived value items, such as top-to-toe executive physicals, Executive Wellness plans as well as supplemental coverage's for such expenses as orthodontia and Lasik surgery.
Another next generation feature of ArmadaCare's Executive Health Reimbursement program is its administrative simplicity. Reimbursement is continuous, rapid and direct to the executive, with a standard of 5 to 7 business days from submission. Due to its premium based structure, the program does not require the company to pre-fund claims before they are reimbursed. This direct process also helps assure the full confidentiality of the program.
ArmadaCare has designed the program to include competitive broker compensation. "ArmadaCare recognizes the importance of the broker's role in advising clients on their benefits package and thus we felt it was important to compensate accordingly" says Keith Sullivan, Managing Partner and co-creator of the product. " In our experience, brokers have also benefited from the product's value in helping them gain access to C-level executives in prospective companies. The ArmadaCare program has been the foot-in-the-door that eventually earned them other business as well."
Several plan options are available with coverage of up to $100,000 annually. Please contact ArmadaCare at 1-800-481-3380 for more information or visit us on the web at http://www.armadacare.com
*This is not local, state or federal tax advice. We recommend that clients seek the independent counsel of a professional tax adviser.