Tax-advantaged ‘ExecSelect™’ Plan Provides Employers Cost-Efficient Recruitment Tool
Sankaty Light Benefits (SLB) announced 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.
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“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.
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