MIAMI, Oct. 15, 2020 /PRNewsCentre/ — Sankaty Light Benefits (SLB) announced today the introduction of its Key Employee Health Care Cost Reimbursement Plan: ExectSelect™. The fully insured, excepted benefits plan provides direct, tax-advantaged reimbursement to key employees and their eligible dependents for health care expenses not covered by their employer’s primary medical plan – and all premium costs are tax-deductible for employers.
According to Steven W. Jacobson, founder, CEO and President of SLB, ExecSelect™ offers businesses one of the most cost-efficient ways to boost their primary health plan benefits, recruitment incentives and overall compensation packages for key employees who drive and sustain business growth.
"Our tax-advantaged ExecSelect™ plan is a win-win for employers, employees and brokers alike."
"With today’s soaring deductibles, co-pays, co-insurance and other out-of-pocket expenses that are not typically covered by a company’s primary medical plan, it’s difficult and cost-prohibitive for businesses – particularly those small- to mid-size – to provide key employees with the added level of health insurance coverage they want and seek," he explained. "ExecSelect™ not only provides that additional coverage, it also provides businesses with a cost-effective tool for recruiting, retaining and rewarding high-level talent. There’s no other product like it in the marketplace."
Jacobson said that ExecSelect™ even covers vision, dental, in-home nursing, psychiatric care and other services rarely covered by employer health plans today.
"Additionally," he continued, "ExecSelect™ provides corporate health insurance brokers with a new product they can use to leverage and add value to their primary health plan offerings – which can help them to increase sales and their competitive edge. So, the plan is a win-win for employers, brokers and employees alike."
Sankaty Light Benefits is a Miami-based, privately held healthcare and insurance services company dedicated to providing businesses with cost-effective solutions to today’s costly health insurance environment, such as its ExecSelect™ plan. The fully insured, excepted benefits plan is underwritten by United States Fire Insurance, an affiliate of Crum & Forster, and is currently available in 34 states. For more information, please visit: www.sankatylight.com or call 844-SANKATY (844-726-5289).
SOURCE: Sankaty Light Benefits