Today’s companies are constantly struggling to attract and retain good talent. And, most companies are offering special perks, or benefits to help do this. But, what about something a little more enticing than a parking spot that’s close to the entry door? What about an executive reimbursement plan? An executive reimbursement plan offers select executives, or group of employees chosen by an employer, additional medical, dental or eye coverage to pay the left over portion of a bill that your group employee insurance did not cover.
While an executive reimbursement plan may not be for all your employees it is certainly something to consider for those driving your business and those who make up the catalyst of your company’s future. The Executive Reimbursement Plan is an insured program approved by each applicable state’s insurance department. This program supplements your group health plan and reimburses the defined executives, or employees on a tax-free basis for their out-of-pocket expenses. To the business this is a normal deductible business expense.
Executive reimbursement plans also provide participants and their families with assistance and access to additional physicians that ensure the best care, executive physicals and travel/medical emergency support around the world.
To learn more about executive reimbursement plans and how your company, owners and employees could benefit from its many benefits contact Broad Reach Benefits at 800.272.1144 today.