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Awwww... We're sad to see you go but we love our products and we meant well.

If you're interested in learning more before you unsubscribe, please click here to learn more about how we reward key employees with out-of-pocket medical, dental, vision, and hearing expenses that are not covered by the company’s regular health care programs.

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Covered Benefits for Select Employees and Their Dependents

  • Prescription drugs
  • Dental and orthodontic expenses
  • Vision Care including all types of frames
  • Chiropractic services
  • Hearing aids and Otologic examinations 
  • Deductibles
  • Smoking cessation clinics
  • Weight loss programs
  • Charges for the diagnosis of infertility
  • Charges for the treatment of infertility up to 10% of annual maximum per calendar year 
  • Medical transportation, including air services and hotel (limitations apply)
  • Psychiatric care
  • Speech therapy
  • Private-duty nursing
  • Hospital expenses, including private-room charges
  • Home health care
  • Alcoholism and drug-abuse treatment and facilities
  • Inpatient and outpatient psychiatric care
  • Medical supplies and equipment and many more services

Generally, if an expense is medically necessary and qualifies under Section 213 it would be eligible for reimbursement under this plan. For a more comprehensive list and details view IRS Publication 502. Individuals must be under the care of a legally qualified physician to receive reimbursement.

Elective procedures that are not medically necessary are not covered by BeniComp Select. For more information check our FAQs.

Tax Advantages And Benefits

  • Insurance benefits (reimbursements) are generally non-taxable income
  • Recruitment and retention of key executives
  • Flexible benefit schedule
  • Enhanced medical plans for as many or as few employees as you choose
  • Reduced out-of-pocket expenses
  • No age limit
  • No pre-existing illness limitation
  • Easy claim submission

It is strongly recommended that interested parties seek the advice of tax counsel when considering adopting an Insured Medical Supplemental Plan.

Pay your claims quickly.

Our goal is to reimburse executives as quickly as possible to avoid putting financial strain on key executives. To offer executives the quickest turnaround time, we highly recommend that clients setup up ACH direct debit withdrawals.

NOTE: The link to the ACH Debit Withdrawals Form below is for employers who will be funding the claims. If you are an executive who would like to be reimbursed electronically then please click here to fill out the employee EFT form.

 

ach direct debit withdrawals

 

How the Online Claims Process Works

STEP 1: The executive pays any out-of-pocket claims that are not covered by their base plan.

STEP 2: The executive submits the claims online using the button below. The submission can be done with any device: computer, tablet, or smartphone!

STEP 3: BeniComp Select reviews the claims submission.

STEP 4: If the claims are approved, BeniComp invoices the employer to make the claims payment.

STEP 5: Once the payment is received, BeniComp immediately sends the reimbursement payment to the executive.

  • If the executive has online deposits (EFT direct deposit) setup, BeniComp deposits the payment immediately.

 

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