Welcome to the second installment in our series about selling to healthcare professionals. Healthcare professionals have specific needs for their healthcare plans – needs that conventional off-the-shelf plans typically cannot meet.
There is a great opportunity for benefits plan advisors to offer customized plans to this largely untapped market.
As professionals in the healthcare industry, doctors fully understand the value of proper healthcare. They live healthcare day-in and day-out, and have a unique perspective on the importance of preventative care, proper recovery adherence, and other medical expenses.
Although each doctor will have different medical requirements, both personally and for their family, they typically will not want to have any limits on their benefits coverage. Doctors want a benefits plan that covers 100% of medical and dental expenses, as they would pay for these expenses regardless.
Doctors are generally proactive about their health. They do not want to feel restricted by a conventional off-the-shelf benefits plan, or have to take such restrictions into consideration when evaluating necessary medical services for themselves and their families.
For example, a doctor who needs to update their eyeglasses prescription should not have to worry about whether their vision care maximum has been reached. They simply want their new glasses to be covered. Period.
Going further than just considering eligible expenses and plan maximums, as busy professionals, doctors do not want to have to think about their benefits plan at all. Doctors have more important priorities than having to reassess a benefits plan every year or two.
They don’t want to shop around for the cheapest price. They don’t want to review and compare plans over and over again. They want to set it and forget it.
Doctors need a one-time solution to remove benefits coverage from their “to do” list once and for all. An unlimited executive benefits plan provides everything doctors would want in a benefits package. Not only available to executives of large corporations, an executive benefits plan can be customized to suit groups of one or two people. The physician will receive all the conveniences of a drug card and 100% coverage.
Furthermore, an executive benefits plan can be designed to enhance tax advantages, which adds another layer of value for the doctor as a business owner. A benefits plan should be a tax-deductible expense.
Off-the-shelf plans cannot achieve the results that doctors want; only a custom benefits plan will give doctors the best plan possible for their needs. The Benefits Trust recommends an unlimited executive benefits plan with tax advantages to meet the needs of doctors.
>> The Benefits Trust can help advisors customize a benefits plan to fit the unique needs of doctors and other healthcare providers. Contact us today to build a better benefits plan.
Previously in Our Selling to Healthcare Professionals Series
Coming Up in Our Selling to Healthcare Professionals Series
- Selling Benefits Plans to Pharmacists and Paramedical Practitioners
- Introducing the Veterinarian SelectFlex Benefits Plan
- Selling Benefits Plans to Family Health Teams
- Mitigating Risk in Your Client’s Benefits Plan Design – Part 1 - September 24, 2020
- Case Study: Freeing Yourself From the Commodity Mindset - August 27, 2020
- Case Study: Reflecting Your Company Culture in Your Benefits Plan - May 21, 2020
- Case Study: Addressing Employee Demands for More Benefit Choices in Family Owned Business - February 21, 2020
- Changes Coming to OHIP in 2020 - November 26, 2019
- Canadian Businesses Turning to Flexible Benefits Plans - October 7, 2019
- Common Benefits Advisor Problems: Adding Value, Part Three - June 6, 2019
- Common Benefits Advisor Problems: Adding Value, Part Two - May 14, 2019
- Dental Fees in Ontario Rising 4.19% This Year: What Can You Do? - March 22, 2019
- How to Combat the Skyrocketing Cost of Dental Claims - October 24, 2018