SELECTFLEX PLANS
Simple Benefits Plans for Small Businesses
What are SelectFlex Benefits?
With the SelectFlex Benefits Plan, the plan sponsor selects the benefits to offer to employees. Employees then receive the flexibility they need for their own coverage through a tax-effective plan. The combination of insurance protection and flexibility is one of the key advantages of SelectFlex.
There is a growing demand for a group plan that is flexible, easy, and affordable for small businesses. Some small businesses assume they are too small to have a truly flexible solution or have found in the past it was too expensive to do so. The SelectFlex Benefits Plan is designed to meet this demand.
The SelectFlex Benefits Plan is unique because employers can tailor which benefits to offer. The employer gains control over the costs of a plan while offering real choice for their employees, showing their appreciation and attracting new talent with a quality benefits package.
SIMPLE BENEFITS PLAN DETAILS
SelectFlex Benefits Plan for Small Businesses
For companies that like the familiarity of a traditional benefits plan, but with more cost control and flexibility.
Plan Highlights
- Similar to a conventional style defined benefit plan, but with flexible options.
- Pooled coverage provides greater rate stability for the employer.
- Mandatory Extended Healthcare (including a drug card), travel Insurance, and hospital expenses.
- Optional Dental, Life Insurance, Accidental Death & Dismemberment, Critical Illness, and Long-Term Disability coverage.
- You can build a Hybrid Plan with SelectFlex by adding a Healthcare Spending Account.
Coverage Amount
Administration Fee
- Pooled benefits premiums inclusive of fees.
- Healthcare Spending Account fees are 15% of contributions.
- No setup fees, annual fees, per claim fees, or fees for booklets.
What’s Covered?
- Drugs
- Travel Insurance
- Semi-Private Hospital Room
Optional Catastrophic Coverage
- Life Insurance
- Accidental Death & Dismemberment
- Critical Illness
- Long-Term Disability
- Healthcare Spending Account (this can be used to cover all other healthcare-related expenses such as paramedical/registered therapist services)
- Basic Dental Coverage
Online/Smartphone App Claim Submission?
Benefits Card?
Pay Direct Drug Card?
Interested in a SmartFlex Plan for Your Business?
Talk to your advisor, call us for a 10-minute chat, or submit a callback form.
Common Questions and Resources
What are the Advantages of SelectFlex?
SelectFlex is designed to be easy for employers to customize and easy for employees to understand.
SelectFlex offers:
- 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
Helpful Tools
Most Traditional Employee Benefits Plans Look the Same
Cost
Service
Delivering more value means more than offering comprehensive employee benefits. It means creating a partnership with your provider that’s based on dedicated representative customer service. It means flexibility in the solutions we offer and responding to your inquiries immediately.
Plan Design
Support
We Can Match Your Existing Plan
Our team can quickly adjust and change your existing plan to work perfectly for you.
The Benefits Trust Creates a Custom Benefits Plan to Meet Your Company’s Needs
- You pay for the insurance you want
- You only pay for the claims you have
- Administrative costs are fixed and transparent
Have an Inquiry About Our Plans?
Call us at 1-800-487-2993
Email us at [email protected]
Regular Hours of Operation:
Monday – Friday 8:30am – 5:00pm