|
Plan Administrator - MBA - Special Trust Features
The MBA Group Insurance Trust has many significant advantages over individual insurance plans and other group plans. Here are just a few:
Additional Term Life Insurance
In addition to the Basic Term Life Insurance benefit included in your plan, your company may allow each employee to increase his or her amount of life insurance through the Trust's Additional Term Life Insurance Program. Employees can apply for up to $500,000 of additional term life insurance (in $10,000 increments; $30,000 minimum).
Additional Term Life rates are competitively priced primarily due to the dynamics of large group purchasing power of the MBA Trust. Companies offering this benefit to their employees are not obligated to pay for the Additional Life Insurance benefit and may take a payroll deduction for the applicable rate. See the Trust Benefit Summaries section of this proposal for more details.
Special Feature for Companies with 10 or More Employees:
If your company offers the Additional Life Insurance benefit through the Trust, your employees can apply for additional term life insurance within the first 30 days of the company's effective date with the MBA Trust. These employees will be guaranteed a minimum of $75,000 of coverage regardless of their health condition. In addition, employees hired after the company's initial start-up date with the Trust are also eligible for the $75,000 Guarantee Issue benefit if application is received within the first 30 days of MBA Trust coverage.
Preventive Care Coverage
All MBA medical plans are designed to include coverage for preventive care benefits such as annual physicals, well-baby checkups and cancer screenings with minimum out-of-pocket expenses to the employee. This coverage encourages members to take measures towards maintaining good health. When members are healthy, claims costs are lower and this helps to keep premium increases at a minimum. In most cases, the annual copay and deductible (if applicable) are waived for this benefit on all plans.
24-Hour On-The-Job Coverage
When it comes to on-the-job injuries, some health insurance plans exclude coverage for owners and officers; or they charge an additional rate to include this coverage. All MBA plans were designed to include coverage for medical treatment received relating to on-the-job accidents when the owner or officer of the MBA Trust Company is not covered under the States' Workers Compensation Program.
Medical Plan Variety and Choice
The MBA provides a wide range of medical plan options that allows you to choose a plan that best balances cost and benefits for the company and it's employees. Companies with 10 or more full-time employees may elect to offer two medical plans - - one Preferred or Traditional plan, and one Point-of-Service plan. Each employee may then choose the medical plan that best meets his or her personal and/or family needs.
COBRA Administration
COBRA services are provided at no extra charge to MBA Trust companies subject to federal COBRA Continuation Coverage regulations (generally, companies with 20 or more employees). The MBA Administrator handles all COBRA obligations with the exception of the company's notification requirements.
Special New Company Enrollment Provisions
Enrollment opportunities for companies whose current insurance plan is provided by Regence Blue Shield may be restricted from access to the MBA Trust program. Please contact the MBA Trust Consultants for complete details on how this special enrollment provision may affect your company's opportunity to participate in the MBA Trust.
Local Carriers, Claims Processing and Customer Service
To ensure that your employees are provided with the best service available, all MBA Trust insurance carriers provide local claims processing, customer service and provider networks. The Trust carriers have exclusive MBA Trust Member Service units assigned to handle all aspects of customer service for participants in the Trust program. These units provide participants with prompt and accurate information about benefits and claims payments, which result in keeping the employer from having to be involved in their employee's personal health care issues.
Service and Simplicity
Participating companies receive day-to-day benefit services from EPK & Associates, Inc., the exclusive MBA Trust Administrator. Staffed by dedicated, licensed insurance professionals, EPK is responsible for billing, eligibility, ongoing client relations and COBRA services.
EPK & Associates provides you with the assistance you need to educate your employees and easily administer your insurance plans. They are available to your group's insurance administrator as well as your employees to assist in resolving concerns with the Trust's insurance carriers.
Consulting Services
Capital Benefit Services, Inc., the MBA Trust Consulting Broker, is responsible for plan analysis and design, carrier renewal negotiations, employee communications, plan comparisons, employee meetings and evaluating additional benefit options. Capital Benefit Services can also assist with other employee benefits such as long-term and short-term disability policies.
New Company Enrollment Provisions
Companies whose current insurance carrier is Regence BlueShield may be subject to special open enrollment provisions. Please contact an MBA Trust Consultant (425-641-8093 or 1-800-545-7011 ext. 6) or email us at sales@epkbenefits.com for complete details.
|
