What is Limited Medical Insurance?
Limited medical insurance pays first-dollar benefits for a variety of medical treatments including doctor and wellness visits, ER visits, hospital admission and confinement, and more. There are even lump sum benefits for dislocations, fractures, burns and critical illness among others.
Why Should an Employer Offer Limited Medical Insurance?
Employers offer health insurance because they care about the well-being of their employees and their families. According to the Kaiser Foundation, in 2015 the average annual employer contribution for comprehensive major medical on an HMO family plan was $11,801; for a single worker the employer contribution was $5,032.* As the cost of providing comprehensive medical plans for employees continues to increase, more employers are looking for ways to reduce expenses while still providing medical benefits to employees.
For small business owners, the cost for providing benefits to their employees could mean the difference between profit and loss.
Limited medical insurance could be a viable solution for any size company to offer medical benefits to their employees.
Limited medical insurance can be offered through the convenience of payroll deduction, there are no copays or deductibles, and there are four different plan levels to fit most any budget.
However, Limited Medical is not ACA compliant and if sold without a comprehensive major medical plan the employees may have a tax penalty.
Click Here to contact us and find out how you can offer your employees this valuable coverage.
Group Limited Medical Benefits:
- Doctor Visits
- Inpatient and Outpatient benefits
- Prescription Drugs
- Affordable rates
- Critical Illness benefits
- Accidental Death and Dismemberment benefits
This product is not available in AL, CA, CO, CT, DC, FL, HI, ID, IN, MA, MD, MN, MO, MT, ND, OR, RI, SD, VT, WA, WY
* The Kaiser Foundation, “2015 Employer Health Benefits Survey,” accessed Dec. 16, 2015 - http://kff.org/report-section/ehbs-2015-summary-of-findings.