SelectFlex: A Simple Benefits Solution for Small Businesses
SelectFlex is the perfect plan for small businesses (3 or more employees) who want simplicity, flexibility, and cost control. More than an “off-the-shelf” benefits plan, SelectFlex provides a range of options for employers to design a benefits plan specifically for their business.
For SelectFlex forms and documents: visit the SelectFlex website.
What is SelectFlex Benefits?
At the heart of SelectFlex is a core Extended Health Care plan designed for small businesses that includes:
- Prescription drug card
- Semi-private hospital coverage
- Out of country medical insurance.
Business owners can then choose the options that will be the best fit for their business, instead of settling for a standard package. Available options include:
- Dental care
- Life insurance
- Accidental death and dismemberment
- Critical illness
- Dependant life insurance
- Long term disability
The SelectFlex plan also includes the option of a Health Care Spending Account (HCSA), for those employers who want to offer extra coverage with more flexibility for employees. With an HCSA, employees can choose how to spend their benefit dollars based on their own family’s health care needs.
What are the Advantages of SelectFlex?
SelectFlex is designed to be easy for employers to customize and easy for employees to understand.
- Flexibility to design a more tax effective plan for business owners
- Optional benefits allow employers to pick only the coverage they want, by class or group of employees
- Hybrid plan design helps to keep benefits plan costs within budget
- Convenience of a drug card for prescription medications
- Electronic dental claims submission (EDI) directly from the dental office
- Added flexibility with Health Care Spending Accounts covering a wider range of eligible items than a conventional benefits plan
If you want to know more about our new SelectFlex plan for small businesses, you can visit the SelectFlex website.