Cost At a Glance – Executive Edge
INSURED MEDICAL REIMBURSEMENT PLAN FOR KEY EMPLOYEES

BeniComp, Inc.

Annual participation fees:

$250 annually per each covered employee

Employer Premium = paid claims, plus administration fee
Administration fee percentage is based on number of covered employees

Plan Maximums:
$100,000 . $200,000

Administration fee 10%

Covered Benefits

Typically, if an expense is medically necessary and qualifies under Section 213 of the Internal Revenue Code, it would be eligible for reimbursement under Executive Edge. Examples of covered expenses include:

• Deductibles and coinsurance
• Dental care and orthodontia
• Annual physicals and preventive care
• Vision care, as well as eyeglasses and contact lenses
• Smoking-cessation programs
• Professional nursing services
• Prescription drugs
• Expenses for nervous and mental disorders
• Treatment of alcohol and drug abuse
• Inpatient and outpatient psychiatric care
• Hearing aids and examinations
• Private-duty nursing
• Chiropractic services
• Medical supplies and equipment

Executive Edge is available in the District of Columbia and all states except Connecticut, Hawaii, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Vermont, and Washington.

This marketing material only offers a brief description of the Executive Edge policy. Complete policy provisions and coverages are described in the policy.

Executive Edge is administered by BeniComp Group, Inc. 8310 Clinton Park Drive Ft. Wayne, IN 46825 (260) 469-2915 (800) 837-7400

Executive Edge is underwritten by Assurity Life Insurance Company. 4000 Pine Lake Road PO Box 82533 Lincoln, NE 68501-2533

Executive Edge – Reward Those Who Deserve It Most

Recruiting and retaining key individuals to your organization is a key element in keeping your company successful. Installing an insured medical reimbursement plan will go a long way in finding and keeping those individuals content and productive.

Initial enrollment is simple.

• Submit a completed employer application.
• Submit a completed enrollment card for each covered employee.
• If you elect to use the Executive Edge prescription drug card, please submit a completed participation agreement.
• Submit a check for the annual premium per covered employee.

Claim submission is easy.

After receiving your covered employees’ (and their dependents) non-covered base health plan expenses, you submit the claim and administrative fee to us.

We then adjudicate the claim and reimburse the employee for all eligible expenses. So, every time an employee gets a check from Executive Edge, it will remind them of your loyalty to them.

Why this plan?

With Executive Edge, you may choose to offer our Prescription Drug Discount Card, which can be used at more than 50,000 pharmacies nationwide. With the Executive Edge Prescription Drug Card, your insured employee can pick up a prescription without paying any co-pay or deductible. They just show their card, pick up the prescription and away they go – without any money changing hands.

Plan description

The annual cost is $250 per covered employee plus 110 percent of the group’s total eligible medical reimbursement claims. And, because Executive Edge is an insured plan, there is a maximum cost to your firm based on the number of covered employees. This chart details these maximums.

For a $100,000 plan with more than 11 employees, the maximum employer expense is $12,000 x the amount of covered lives ($24,000 for a $200,000 plan). Covered medical expenses incurred by the same insured or dependent during any one Plan Year will be subject to a 10 percent per occurrence limit.

What are the tax advantages of a properly structured plan?

Typically, employees will not pay taxes on benefits received from their participation in Executive Edge. Compared to a self-insured plan, where payments to participants would be taxable, payments under an insured medical reimbursement plan, like Executive Edge, are generally tax-free.

While a properly structured medical reimbursement policy can qualify for a tax deduction for you – the employer – and non-taxable income to your employees, it is strongly recommended that you seek the advice of your tax counsel when considering implementation.

Your company also benefits!

Because Executive Edge is an insured medical reimbursement plan and not self-insured, your firm’s premium contributions for the plan are typically tax deductible as a reasonable and ordinary cost of doing business. In addition, you are able to maintain or add on cost containment features to your existing plan, while still providing a valuable incentive to your key employees. And – best of all – you decide just who those employees are.