BeniComp Select

We offer a fully insured supplemental excepted benefit that pays participants for their out-of-pocket medical, dental, vision, pharmacy, and 213d eligible expenses.

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What is BeniComp Select?

BeniComp Select is a fully insured supplemental accepted benefit designed to help companies reimburse employees for out-of-pocket medical expenses. This provides dollar one coverage for out-of-pocket medical, dental, vision, pharmacy, and 213d eligible expenses, such as copays, co-insurance, deductibles, and max out-of-pocket. We also reimburse for services that may not be covered by the primary plan, including chiropractic, LASIK, orthodontic, executive physicals, out-of-network claims and more.

How is BeniComp Select different?

We offer a few key advantages over other similar products. Our policy offers clients a selective advantage by classing out employees such as owners, executives, and other key positions. BeniComp uses a variable premium model instead of a fixed monthly premium, where you are charged regardless of utilization. We believe that clients should have a transparent policy where they fund claims based on the actual reimbursements. We also offer a twofold tax advantage to the employer and the employee. All payments made to the BeniComp are tax deductible to the client, and any reimbursements made to participants are tax-free. We can't speak about healthcare without talking about compliance. Our benefit has been filed and approved in 44 states by the Department of Insurance and Department of Labor, and we have been issuing these policies without incident for over 30 years.

Who is a good fit for BeniComp Select?

Any size company starting with just one participant. Eligibility to participate is simple. As long as the employee is offered the primary health plan and has a major medical policy in place, they can be enrolled. S corps, 2% or more shareholders who cannot participate in other plans are a great fit for this benefit. Any company looking for reward, retention, and recruitment solutions. Business owners with out-of-pocket expenses, noisy executives or any client that wants to stand out with unique perks for their employees can all take advantage of this fantastic benefit.

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Duration: 02:41

Posted: Friday, November 3, 2023

Video tags: Under 50 EEs, 51 - 100 EEs, 101 - 250 EEs, 251 - 500 EEs, 501 - 1000 EEs, 1001 - 2500 EEs, 2501 - 5000 EEs, Over 5000 EEs