The cost of prescription drugs in the U.S. are high and getting higher. What do high prescription costs mean exactly and how is it impacting the group healthcare insurance market? Here are some statistics that show just how out of control prescription drug prices are: Spending on prescription medicine per capita in the U.S. [...]
The word supplemental comes with a connotation of superfluous or unnecessary, and unfortunately that connotation is sometimes carried over to supplemental health insurance. But with the recent shifts in the benefits industry, supplemental health insurance has taken on new importance. A Little History For years, supplemental health insurance was considered an afterthought and an [...]
Over time, supplemental insurance has become interchangeable with voluntary insurance in the minds of many, both brokers and employers alike. Years of miscommunication and inefficient marketing has led to this misconception which, unfortunately, has a very limiting result. In actuality, supplemental insurance does not equal voluntary insurance, and this misinterpretation completely cuts out another [...]
Earlier this month, ArmadaCare attended a conference called Ascend where agency leaders go to discover innovative strategies and resources to differentiate and grow their benefits firm. The conference focuses on helping employee benefits firms Remain relevant Stay independent Become more profitable Achieve more organic growth With these goals in mind, our CEO, Ed Walker, [...]
Medical reimbursement plans, also known as expense reimbursed insurance, have gotten a bad rap as an expensive supplemental option. However, like most things, this statement just isn’t that simple. Let’s look a little deeper. When people think of medical reimbursement plans, they typically think of 1 of 2 things. Health reimbursement accounts: As the [...]
When you talk about executive medical reimbursement plans, also called expense reimbursed insurance, it’s not rare to get questions like, “Is that still allowed,” or “I thought you couldn’t do that anymore?” Let’s tackle those questions and get to the bottom of it. Characteristics of Today’s Reimbursement Plans Fully-insured Supplemental Excepted benefit True gap-filling [...]
Expense reimbursed medical insurance is a type of employer-paid supplemental benefit that provides broad, additional coverage for out-of-pocket medical expenses in the form of reimbursements up to the specified limit. While you may know about this type of supplemental insurance in theory, it may be harder to know when to use it in practice. [...]
What makes Ultimate Health and our other products so powerful? They can work for companies of all different types and sizes. They can also be layered onto almost any primary healthcare plan, offered to select employee groups as desired by the employer and be written for the first of any month. That’s the beauty [...]
Is Ultimate health a gap plan? It’s a question we hear a lot. Namely because the word “gap” has a lot of ideas attached to it. Similar to the word “supplemental,” when people hear “gap,” their minds typically jump to what are known as worksite voluntary plans, like critical illness or cancer policies. These kinds [...]
As is often the case this time of year, I found myself half-watching another classic holiday movie as I ate a late dinner and answered some emails. It was National Lampoon’s Christmas Vacation, a movie I’d seen countless times, so I was paying little attention as the boss was kidnapped and brought to the Griswold [...]
