Tick! tick! tick! As the 2014 Employer Mandate to either pay or play gets closer the nation’s employers move a step closer to having to make a decision: Do I play or pay? This Employer mandate under Patient Protection and Affordable Care Act (PPACA) does not apply to smaller groups under 50 FTE (full time equivalent) employees. Many small groups such as food service industry, retailers, construction etc. in fact have many FTE and while they may work minimal hours can trigger the “pay or play” mandate.
The IRS has released recently guidance published in the form of a Notice of Proposed Rulemaking (NPRM), addresses a number of issues tightly linked to an array of practical considerations related to the employer mandate. These include defining a “large employer,” determining “full-time” status for employees, clarifying the meaning of “dependents,” and determining what constitutes “affordable” coverage.
The guidance also tackles several stickier questions such as how and whether to count foreign or seasonal workers, as well as how to calculate the full-time status of employees who work unusual hours, such as teachers or airline pilots.
Three safe harbors relating to the provision of “affordable” coverage to employees in order to avoid exposure to the mandate penalties are also included in the guidance. Transition relief is offered in recognition of certain employers’ needing time to bring their plans into compliance.
Still, there are several regs that the IRS is awaiting commentary and resolution on due on March 18, 2013.
A Q&A summary of the rule has been released by the IRS and is available by clickinghere.
Some employers assert that the play-or-pay mandate will raise their costs and force them to make workforce cutbacks. As a result, a number are considering eliminating their health care coverage altogether and instead paying the penalty on their full-time employees. While the “pay” option might be worth considering, there are strong reasons why employers should look carefully at all of their options and do their best to calculate the actual outcomes of each.
Other Key Issues Addressed in the Proposed Rules Additional issues addressed in the proposed regulations include:
Determining which employers are subject to the “pay or play” requirements;
Determining who is a full-time employee, including approaches that can be used for employees who work variable hour schedules, seasonal employees, and teachers who have time off between school years;
Determining whether coverage is affordable and provides minimum value; and
Calculating the amount of the penalty due and how the penalty will be assessed.
When conducting a cost-benefit analysis, the key tax issues the employer should consider are:
Employer Tax Penalty for Not Offering “Qualified” Group Health
Not applicable for employers with less than 50 FTEs
$2,000 penalty per full-time employee (minus 30 employee credit)****
Employer Tax Penalty for Offering “Qualified” Health That is Not “Affordable”
Not applicable for employers with less than 50 FTEs
$3000 per employee receiving subsidy
Example:
Jungle Corp. has 100 full-time employees and is a leader in its market, using a talent differentiation strategy. Jungle’s family coverage costs $15,000, of which employees pay $3,000. Bob Smith, a highly skilled worker with a strong performance record, earns $50,000 and has family coverage through Jungle’s plan.
On Jan. 1, 2014, Jungle Corp. announces it is dropping its group health plan coverage and will instead pay the $2,000-per-full-time-employee penalty. On Jan. 2, Bob walks into HR and asks about receiving replacement compensation for the $12,000 that the business had been paying toward his family coverage.
Wanting to retain Bob in accordance with its strategy of maintaining market leadership with an experienced workforce, Jungle offers him another $12,000. But clever Bob points out that his share of Social Security and Medicare payroll (FICA) taxes will take a bite out of that $12,000, as will federal and state income taxes, so the HR manager agrees to make good on those amounts as well. Of course, the company will also have to pay its share of FICA taxes on Bob’s additional compensation. As a result, instead of paying $12,000 toward Bob’s family coverage using pre-tax dollars, Jungle Corp. now finds itself paying an additional:
Bob’s salary adjustment: $14,500
Employer’s share of FICA taxes: $1,109
Excise tax (penalty): $2,000 ———————————-
Total: $17,609 (versus $12,000 currently)
Similar per-employee costs will be reflected across the company’s workforce. A move that seemed like a no-brainer, the consequences could make you look silly.
For More Information Due to the complexity of the law in this area, and the absence of finalized guidance, employers are strongly advised to review their benefit plans to prepare for the changes ahead. Additional information regarding the penalty is featured on our Employer Shared Responsibilitypage.
In the coming months, Millennium Medical Solutions Inc will host seminars and will share information you’ll need to know as the countdown continues to October 1st. Please contact us for immediate information on how to implement these initiatives for your group-specific needs at info@medicalsolutionscorp.comor Call (855) 667-4621.
Most are familiar with the AFLAC duck when it comes to supplemental benefits to primary medical plans. Today, primary medical plans are extremely valuable but in many cases the benefits paid cover only a fraction of the true cost of a major illness or injury. For instance, a person who suffers a severe heart attack can expect to experience a lengthy hospital stay, followed by a period of recuperation at home or in an extended care or rehabilitative facility. A primary medical plan will cover a significant portion of the hospital and physician costs, but the insured is likely to be responsible for some expenses. Depending on the terms of the plan, these expenses can be substantial.
Most Popular Benefits
The most in-demand voluntary benefits continue to be those that supplement core medical, life, or disability insurance coverage, according to surveys. These include dental, critical illness, specific illness, hospital supplemental, medical supplemental, disability buy-up, and supplemental life coverage. However, demographic trends are also contributing to growing interest in long-term care and financial planning products.
As more people are faced with their parents’ elder care needs, they begin to appreciate the cost of extended care and anticipate what their needs may be in a few years. And, many mid-career employees face the double crunch of saving for retirement at the same time they are financing college education for their children.
Perhaps reflecting the many demands on the time and money of today’s employees, 28 percent of participants in one survey said they wanted employers to provide a wider array of voluntary benefits. In addition, 30 percent of respondents said they were interested in having employer-provided access to financial planners to assist them in making decisions.
Furthermore, an individual experiencing a health crisis such as a heart attack can expect to be absent from work for some time. A disability plan usually replaces only 60 percent to 70 percent of wages, and not everyone has disability coverage. This disruption to an individual’s income stream, combined with the added medical expenses, can devastate a family’s financial well-being, and can even force tough decisions about treatment options.
The prospect of experiencing a severe health calamity is not as uncommon as one might think. According to a study by the National Heart Lung and Blood Institute, 1.1 million Americans have heart attacks each year. And the American Cancer Society predicts more than 1.4 million new occurrences of cancer annually in the U.S., with men accounting for a slightly higher percentage than women.
Fortunately, insurance products are available that supplement a primary medical plan. Usually available to employees on a voluntary basis and at group rates, these products can fill gaps in traditional health insurance coverage such as the indirect costs of an illness or injury. Surprisingly, the indirect costs can sometimes outweigh the direct cost of medical care.
The following provides an overview of the types and benefits of supplemental medical insurance products. Remember that different carriers may market similar products under various names, and that the specific benefits provided may vary.
Critical illness insurance usually pays a cash benefit upon diagnosis of a life-threatening disease or condition, such as cancer, heart attack, stroke, or the need for an organ transplant. The benefit can be used as the insured — or survivors — see fit. For instance, the benefit may be used to pay for health care from an out-of-network provider under the primary plan; experimental treatment not covered by the primary plan; indirect costs associated with medical treatment, such as transportation, lodging, and child care; as well as lost income.
Some carriers offer disease-specific insurance. The most well known among these products is cancer insurance. Depending on the way the policy works, specific disease insurance may pay a cash benefit upon diagnosis, and/or may provide coverage beyond the primary medical plan for treatments associated with the disease, such as radiation and chemotherapy in the case of cancer insurance. Some cancer insurance carriers provide disease management services through a health care professional with expertise in oncology.
Catastrophe medical insurance provides coverage that kicks in after the primary medical plan has run out. Although many primary medical plans have high lifetime limits, some do not. This is especially true of those purchased with economy of premium in mind. Catastrophe plans carry a high deductible, but typically all medical expenses paid both by the insured and the insured’s primary plan count toward the deductible. In light of the high cost of health care, a low-limit primary plan can be easily exhausted. Consider the medical costs associated with a premature baby or the trauma of a major automobile accident. Catastrophe insurance provides much needed benefits for all of these types of occurrences.
Hospital indemnity insurance supplements the primary medical plan if an illness or injury requires a hospital stay. Depending on the policy terms, benefits may be paid for specified hospital procedures or on a cash per diem basis.
With today’s skyrocketing costs of medical care prompting employers to study how health insurance is offered to employees, voluntary supplemental medical coverage may be an appropriate offering for your workplace. Adding supplemental medical coverage to an umbrella of voluntary benefit offerings can bring value as well as flexibility to your employee benefit package. Remember that coverages vary by carrier, and by state. Speak with your insurance agent to learn which supplemental insurance products provide the coverages that best suit your needs.
For more information on how a work-site supplemental package would help you and your company please contact us at (855)667-4621 info@medicalsolutionscorp.com today.
We are always on the lookout for highly motivated individuals with relevant industry experience and a strong interest in our industry. We are particularly interested in people with backgrounds in hospitals, web technologies and HR consulting. A bilingual skill is also desirable. If you think your skills would be a good fit for our business, please forward your resume to info@medicalsolutionscorp.com. We look forward to hearing from you.
A Professional Employer Organization- FAQ. Hope this FAQ is a helpful resource as so many Employer groups have been asking about the use of Professional Employer Organization to handle their full HR, payroll and insurance solutions.
Q | What is a PEO, ASO, HRO and why should I care about them?
A PEO is a Professional Employer Organization a single source provider of integrated services which enable business owners to cost-effectively outsource the management of human resources, employee benefits, payroll and workers’ compensation and other strategic services, such as, recruiting, risk/safety management, and training and development through co-employment. It does this by hiring a client company’s employees, thus becoming their employer of record for tax purposes and insurance purposes.
An ASO is an Administrative Services Organization provides business transaction-based human resources services such as support with payroll, benefits, and employee data management. An ASO solution differs from a Professional Employer (PEO) model because there is no co-employment – the employment relationship is maintained by the client.
HRO is Human Resource Outsourcing in an HRO model, the solution focuses on managing the entire HR business process, unlike the Administrative Service (ASO) model which focuses on the transaction. An Employee Call Center is inherent to the solutions within an HRO offering. An HRO solution differs from a Professional Employer (PEO) model because there is no co-employment – the employment relationship is maintained by the client.
Q | What services and solutions does a PEO offer?
A PEO offers a complete suite of services and solutions; through our strategic partnerships we have established relationships with the industry leaders in their respective markets. We offer solutions’ in the following areas:
Payroll and Human Resource Administration
Human Resource Management Systems (HRMS)
Benefit Plans and Total Benefit Management
COBRA, HRA, HSA, FSA Management and Implementation
Commuter benefits and Health and Wellness programs
401-k plan designs and TPA services and financial planning
Employee Assistance Programs
Q | I have heard of Human Resource Outsourcing, what is the advantage to dealing with Millennium Medical Solutions versus a company directly?
A| The advantage is that while working with one company can provide a solution, however they only can quote their respective services. Millennium Medical Solutions works with numerous Human Resource Outsourcing organizations; we enable you to efficiently compare all providers through one simple application. Since there is no fee for our service, we offer an unbiased comparison and aren’t tied to one specific provider, leaving us the ability to objectively compare all solutions with your best interest at the core of solution.
Q | What does human capital mean?
A | Human Capital refers to the management of a company’s most valuable asset, their employees. At Millennium Medical Solutions we refer to human resources as human capital.
Q | What if I already work with a PEO, ASO, or HRO provider?
A | That in fact is many times the case; however our platform has every PEO, ASO, and HRO provider in one location. We scoured the market to find the best in breed in the PEO, ASO, and HRO market and our strategic partnerships for a la carte services are industry leaders. Our proprietary software allows you to shop the entire PEO, ASO, and HRO market in one submission, versus going it alone and collecting quotes from each individual provider. Many of our current clients were with other providers prior to working with us; we ensure that your current solution is giving you the best deal. If you current solution is the best fit for you, then we will advise of that as well.
Q | Who are the providers you work with?
A | Millennium Medical Solutions e works with the leading providers, some national in scope and others regional in scope. We are constantly evaluating and adding new providers, so our vendors are currently growing daily. For a list of our current providers we invite you to visit our strategic partners’ page to learn more about our providers.
Q | What are the costs for your services?
A| For our PEO, ASO, and HRO services, there are no fees, we are compensated by our strategic partners. Very few of our services actually have a fee, contact us for more information and we’ll be happy to tailor a solution to fit your needs and breakdown all the costs associated with our services and solutions.
Q | If I am a PEO, ASO or HRO provider and would like to be a part of Millennium Medical Solutions, whom do I contact?
A Millennium Medical Solutions is always looking to add and build strategic partnerships, to learn more, feel free to contact us at info@medicalsolutionscorp.com.
Q | If I am interested in learning more about PEO, how can I get more information?
A | Millennium Medical Solutions is all about options; you can call us, email us or just add our RSS feed. Our number is (914)207-6161,info@medicalsolutionscorp.comor 200 Business Park Dr, Suite 200 Armonk NY 10504 If you have a question that was not answered here or have additional questions, please feel free to contact us and we’ll be happy to answer your questions.
Why wait until January as Empire will be dropping all plans on 4/1/2012 regardless of renewal date anyway. Plus, you can still take advantage of Q4/2011 pricing. Further, Empire is not allowing mid-year plan change exceptions. Thus, 12/1/2011 enrollments with other carriers is the way to go, and is still attainable.
Sign up for latest news updates. Please contact us for immediate information on how to implement these initiatives for your group-specific needs at info@medicalsolutionscorp.com or Call (855) 667-4621.
Today, health care costs are high, and getting higher. Who will pay your bills if you have a serious accident or a major illness? You buy health insurance for the same reason you buy other kinds of insurance, to protect yourself financially. With health insurance, you protect yourself and your family in case you need medical care that could be very expensive. You can’t predict what your medical bills will be. In a good year, your costs may be low. But if you become ill, your bills could be very high. If you have insurance, many of your costs are covered by a third-party payer, not by you. A third-party payer can be an insurance company or, in some cases, it can be your employer.
Sign up for latest news updates. Please contact us for immediate information on how to implement these initiatives for your group-specific needs at info@medicalsolutionscorp.com or Call (855) 667-4621.
Group Health Insurance Quote Request
Please complete the following information and Census Form if you would like to obtain a group health insurance quote. Please understand this is not an application for insurance. An application will be sent to you if coverage is desired. All information provided on this information sheet is confidential and will be used solely for the purpose of developing a quote for you. If you have more than 50 employees, just submit the form twice. You only need to enter the company name and your email address on the second form, along with the employee information.
This is an essential part of financial planning. One reason most people buy life insurance is to replace income that would be lost with the death of a wage earner. The cash provided can also can help ensure that your dependents are not burdened with significant debt when you die. The insurance proceeds could mean your dependents will not have to sell assets to pay outstanding bills or taxes. An important feature is that generally no income tax is payable on proceeds paid to beneficiaries. The death benefit of a life policy owned by a C corporation may be included in the calculation of the alternative minimum tax.
How much Insurance do I need?
Before buying life insurance, you should assemble personal financial information and review your family’s needs. There are a number of factors to consider when determining how much protection you should have. These include:
any immediate needs at the time of death, such as final illness expenses, burial costs and estate taxes;
funds for a readjustment period, to finance a move or to provide time for family members to find a job
ongoing financial needs, such as monthly bills and expenses, day-care costs, college tuition or retirement.
Although there is no substitute for a careful evaluation of the amount of coverage needed to meet your needs, one rule of thumb used is to buy life insurance that is equal to five to seven times annual gross income.
Sign up for latest news updates. Please contact us for immediate information on how to implement these initiatives for your group-specific needs at info@medicalsolutionscorp.com or Call (855) 667-4621.
Individual & family – Short-term coverage available up to three years for travelers who take frequent trips throughout the year.
You have enough to worry about when you’re traveling. Don’t let your medical coverage be an uncertainty. IMGhas developed two Patriot Platinum Travel Medical Insurance plans to provide you and your family superior protection and offer a complete package of international benefits available 24 hours a day. Patriot Platinum InternationalSM provides coverage for U.S. citizens traveling outside the U.S. with coverage for brief returns to the U.S., while Patriot Platinum AmericaSM provides coverage for non-U.S. citizens traveling outside their home country. Both plans are available for a minimum of five days to a maximum of three years.Provides first-class protection for the discerning international traveler who wants to obtain the maximum coverage available in a short-term travel medical insurance product.Quote/Purchase Patriot Platinum Travel Medical InsuranceSM
Patriot Multi-Trip is designed for individuals and families who travel frequently outside their home country throughout the year. The plan offers the ease and convenience of purchasing an affordable single annual premium plan that provides coverage for trips up to 30 or 45 days in length for each trip taken during a period of 12 months. The plan provides up to $1,000,000 of medical coverage and services.There are two plans available: Patriot Multi-Trip International provides coverage for U.S. citizens that take multiple trips annually outside the U.S., and Patriot Multi-Trip America provides coverage for non-U.S. citizens that take multiple trips annually outside their home country.Quote/Purchase Patriot Multi-TripSM
Patriot T.R.I.P. Student is a budget-conscious travel insurance program designed to provide important benefits to students for many of those unforeseen circumstances that may force the cancellation or interruption of a covered trip. This program also includes coverage for trip cancellation or interruption travel and baggage delay, lost or stolen baggage, emergency medical expenses and emergency medical evacuation.
Patriot Group Travel Medical Insurance provides coverage for groups of five or more U.S. citizens and/or foreign nationals who need temporary medical insurance while traveling for business or pleasure anywhere outside their home country. It offers a 10% discount from Patriot Travel Medical Insurance and has one easy-to-use enrollment form.
There are two Patriot Group Travel plans plans that provide up to $2,000,000 of medical coverage with a choice of deductibles and policy maximums. Patriot International Group provides coverage for U.S. citizens traveling outside the U.S. and Patriot America Group provides coverage for non-U.S. citizens traveling outside their home country. In addition to medical benefits, the plans include coverage for medical evacuation and repatriation. Coverage can be obtained from a minimum of five days up to a maximum of two years.
“Travel Insurance” is a popular term often used to characterize a product that offers medical insurance benefits and some form of emergency assistance to cover travelers for short periods of time. Usually the time period coincides with the beginning and end of a vacation or business trip outside of the traveler’s country of residence and may extend from as short of a period as 15 days to as long as 2 years. Travel insurance is designed to allow travelers to obtain adequate health care and certain other travel related benefits while abroad which typically are not covered by their domestic insurance plan. It further protects individuals from unexpected financial liability as a result of a medical emergency and medical evacuations.
“Travel Insurance”, although used in broad terms to describe international insurance in general is only one segment of the International Insurance and Benefit Products marketplace. International Major Medical Health, Travel Medical, Travel Assistance, and International Term Life products are just some of the products designed specifically for those who are either traveling internationally, or for U.S. Citizens living abroad, or Foreign Nationals living anywhere.
The complexion of our world is changing, international travel is reaching all time levels, retirees and business people are living and working as expatriates in ever increasing numbers and many of the public medical systems in the world cannot respond to the needs of their constituents in a timely manner.
Whether you travel for business or pleasure, international travel involves risk. You may arrive at your destination to find that your luggage with personal items has disappeared. A personal emergency may necessitate your early return to your Home Country. But what would happen if you or one of your family members became ill or injured while away from home? A medical emergency may require hospitalization or even air evacuation. In most cases, your existing insurance will not provide adequate protection for these and other risks.
You have enough things to worry about when you’re traveling or living abroad. Don’t let your medical coverage and exposure to significant financial liability be one of them.
What types of plans are available?
International Travelers Coverage
Whether you are traveling internationally for business or pleasure you need medical insurance that responds to your special needs. A medical emergency may require an evacuation, a sudden illness might necessitate immediate attention by a qualified doctor, or your luggage with personal items may be lost.
The Atlas Series of coverage is designed for the individual who is traveling or residing outside of their Home Country for a period of less than one year. If you are traveling outside of your Home Country and are at lease 14 days old, you are eligible for coverage. The minimum coverage period is 15 days and the maximum coverage period is 12 months. You may purchase coverage in combinations of monthly and 15-day increments, depending on your needs.
International Major Medical Insurance
This product provides annually renewable major medical coverage for individuals and families. Coverage is available for U.S. Citizens overseas and non-U.S. Citizens anywhere, including the U.S. Whether you have relocated outside of your country of citizenship, are on an overseas assignment, or doing career mission work you need this comprehensive, portable and seamless coverage.
The International Citizen Series of coverage is available to citizens of all countries of the world who are at least 14 days, and not older than age 74. If you are a U.S. Citizen, you must reside outside the U.S., or plan to depart the U.S. within 30 days of the effective date. If you are a U.S. Citizen, you must also reside outside the U.S. for at least 6 months within each certificate period. Citizens of other countries may reside anywhere, including their country of citizenship.
Travel Accident
These products are changing dramatically from the early Accidental Death Polices that travelers purchased at airports before boarding an airplane to cover themselves should there be an air disaster. The newest policy will now provide Accidental Death and Dismemberment and Permanent and Total Disability Insurance for travelers regardless of the cause of the accident – including coverage for loses resulting from most acts of War and Terrorism.
The MultiNational Travel Accident Plan is a comprehensive Personal Accident and Assistance plan for international travelers. If you are traveling outside of your home country and are at least 18 years old but not yet 65, you are eligible for coverage. The minimum coverage period is 1 month and the maximum coverage period is 1, 3 or 12 months, depending on your destination. The plan may be purchased alone or as a supplement to other programs.
MultiNational Group Benefit Plans
Whether you are a U.S. based organization with employees overseas, or a non-U.S. organization employing expatriates, third country nationals or key local nationals, a dependable and cost effective international group benefit program is a necessity. Group rates, monthly payment options and life insurance all combine with the highest quality medical insurance to deliver reliable, responsive and cost effective coverage for small and large groups alike. As international employers seek to compete in Global markets, the challenge of attracting and retaining qualified international employees can only be met with a comprehensive international group benefit program.
A+MultiNational Group Benefit Plan is available to U.S. based organizations with a subsidiary or a division operating outside the U.S., with 3 or more international employees and is available to organizations based outside the U.S. with 3 or more employees. All active, full-time(30 hours per week or more) employees are eligible as well as dependents.
International Term Life Insurance
Obtaining quality life insurance protection while traveling or living abroad can be difficult. Our ten year level term plan can be a great supplement to your insurance portfolio.
IC+International Term Life Insurance plans are only available to individuals residing outside of the U.S. at time of application, certain other country restrictions limit the jurisdictions where the product can be written.
Travel Assistance Services
When you travel abroad or reside far from home, it’s nice to know that you are not alone. Travel Assistance Services programs are designed to help out in those situations when you need assistance and you don’t know where to turn and time is limited. Travel Assistance Services are not insurance benefits and are not a guarantee of any other benefit under the Atlas or International Citizen plans.
The following Travel Assistance Services are available 24 hours a day, 7 days a week while an Atlas, International Citizen, or Travel Accident plan is in effect.
Pre-Trip Health and Safety Advisories
(Available after purchase of coverage and before departure) – call for current passport, visa, inoculation and vaccine requirements, as well as up-to-date travel safety advisories.
Livetravel Services
– we will make emergency travel and itinerary changes for you including rebooking flights, hotel reservations and ground transportation arrangements.
BagTrak
– the industry leaders in tracking lost, checked baggage will help you locate your lost baggage, and deliver it to you anywhere in the world.
Emergency Message Relay
– will relay messages to your family, friends and co-workers, helping you to maintain contact during an emergency.
Emergency Cash Transfer
– will assist you in arranging and obtaining cash transfers anywhere in the world.
Other important Atlas/International Citizen/Travel Accident Travel Assistance Services include:
Medical referrals Up-to-the-minute travel medical advisories Assistance with prescription drug replacement Dispatch of a doctor or specialist Emergency travel arrangements for family members Lost passport or travel documents assistance Embassy and consulate referrals Legal and accounting referrals Bail bond assistance Translation and interpretation assistance
Which plan should I purchase?
Atlas series:
Atlas International – If you are a U.S. Citizen traveling abroad for 6 months or less. Atlas America – If you are a Non-U.S. Citizen traveling outside your Home country for 6 months or less. Atlas Extra – Regardless of citizenship if you are planning on traveling for 6 months or more. Atlas Professional – If you are an international traveler who requires coverage for multiple trips abroad during the year. Covered for multiple trips with durations of 30 days or less throughout the year.
International Citizens Series:
Platinum – International Citizens needing worldwide coverage. Premier – International Citizens needing coverage outside the U.S. or Canada. Risk Share – International Citizens who can share some risk and require coverage outside the U.S. or Canada.
MultiNational Accident Plan Series:
Travel Accident – Any International Traveler who wants to supplement their medical package with the added benefits of accidental death and disability coverage. Travelers who do not require separate medical may want to take advantage of the AD&D coverage which includes the Travel Assistance Services.
A+MultiNational Group Series:
Group Benefit Plan – Various plan designs are available for any organization outside the U.S. with 3 or more employees. Plans may include health, life dental and disability benefits.
IC+Term Life Insurance Series:
Term Life Insurance – Various life plan options are available for International Citizens residing outside the U.S. A Basic Plan, a Terminal Illness Plan, and a Double Indemnity Plan are available for term periods of up to ten years.
Doesn’t my domestic insurance plan or
medicare cover me for travel?
Perhaps. Still, there are practical considerations to take into account, which you may not be aware. The typical domestic policy has time and coverage area restrictions. Exceeding these limits can place you at risk. Medical examination notes are often written in a language other than English, and will either be the responsibility of the insured to have legally translated, or will be at best, very difficult for the domestic insurer to administer. These problems are eliminated with an experienced international claim administrator. The additional benefits listed below offer significant protection from exposures not typically accounted for in domestic coverages: Inpatient/Outpatient/Intensive Care Emergency Evacuation Emergency Reunion Repatriation of Remains Emergency Dental Local Ambulance Trip Interruption Lost Checked Luggage Accidental Death & Dismemberment Common Carrier Accidental Death All of these benefits and considerations add up to a powerful case as to why you need to take the appropriate steps to insure your needs, and to protect you and your family while traveling.
It is important to review your domestic insurance policy to determine if you have coverage, limited coverage, or any coverage at all while traveling outside your home country. If you are a U.S. Resident and on medicare you should be aware that there is no medicare benefit available to you while outside the United States. For citizens of countries with a national medical program make sure that you know the plans limitations.
What is covered?
It is extremely important to be aware that different international policies have different benefit levels. Travel policies typically offer a few added features that Major Medical policies don’t have due to the special needs of the traveler in unfamiliar surroundings. Medical benefits have been modeled after traditional plans marketed in the U.S. for many years. These features are simple and easy to understand where Benefits are subject to affordable Deductibles and modest Coinsurance payments. Policy Limits will apply to all benefits in all plans.
In general terms you will find coverage options available for:
Medical – See individual plan for Schedule of Benefits and Limits
Emergency Dental – See individual plan for coverage and limitations
Emergency Evacuation – Emergency air and/or ground transportation to the nearest Hospital that is qualified to provide the medically necessary treatment.
Emergency Reunion – In the event of an emergency evacuation, the cost for transportation and lodging for up to 10 days for a relative to join you at the site where you are hospitalized.
Trip Interruption – The company will pay for your return to your Principal Residence due to the Death of an immediate family member or the destruction of your home or if after a covered emergency evacuation it is medically necessary for you to return home.
Repatriation of Remains – In the event of a covered Injury or Illness resulting in your death, your bodily remains will be prepared and transported back to your Principal Residence.
Lost Checked Luggage – In the event your checked luggage is permanently lost by the carrier you will be paid up to $250.00 for replacement of clothes and personal items.
Accidental Death and Dismemberment – See individual plan for coverage and limitations.
Common Carrier Accidental Death – See individual plan for coverage and limitations.
Return of Minor child – If minor children are traveling with a single adult who is hospitalized for a covered illness and the minor children will be left unattended for an expected time of 36 hours or more, then transportation will be arranged to return the children to their Principal Residence.
Travel Assistance Services – See individual plan for level of coverage and limitations.
What is not covered?
It is equally important to know what is not covered under international policies. Refer to the Exclusions section of the plan you are considering to see what charges, treatments, surgeries, medications, conditions and circumstances are not covered. Travel Insurance and Major medical plans treat the following items differently. Pre-existing medical conditions are not covered in general, but may be eligible for a very limited benefit in case of an acute onset. Participating in hazardous sports may be covered with the purchase of the Hazardous Sports Rider. Home Country coverage is available on a limited basis with the purchase of the Home Country Coverage Rider.
How can I obtain this coverage?
It’s easy. You may request a quote and apply on line or you may contact your agent and request a brochure and application. Atlas Travel Insurance plans can be purchased with a credit card online and policies issued and printed immediately on your computer 24 hours a day. The International Citizen Major Medical and IC+Term Life Insurance plans can be quoted and applied for on line or by mail, however approval is subject to underwriting guidelines and may require medical exams or other documentation. You may request a quote on line or by mail for the A+MultiNational Group Benefit Plan, application is by mail.
All individual product brochures include rates and an application for your convenience. If you have questions please give us a call.
Who Administers and Insures this plan?
The information contained in this section is a general representation of the products offered and concepts to be considered when traveling or residing internationally. The specific series of policies that have been mentioned or described in general: Atlas Series, International Citizen Series, Multinational Travel Accident, A+MultiNational Group Series, and IC+Term Life Insurance Series, are policies issued and insured by the Administrator and Insurer listed below. Please refer to the actual policy details from the carrier for an accurate and legal description of these plans.
MultiNational Underwriters, Inc, headquartered in Indianapolis, Indiana, is a full service organization offering a comprehensive portfolio of insurance products designed specifically to address the insurance needs of international travelers. A Travel Guard® International company, that benefits from the experience of a corporate group that protected over 6 million travelers last year. International claims specialist, medical professionals, and customer service representatives are available 24 hours a day, 7 days a week to answer your questions and respond to your needs. Whether you have lost your luggage or are in need of Emergency Evacuation, you will find a service team which is prompt, compassionate and of the highest professional quality ready to assist you.
Lloyd’s the largest and oldest insurance market in the world, is the insurer of these unique insurance products. Rated A-by AM Best Company and A by Standard and Poor’s, Lloyd’s provides financial strength and security that is unparalleled in the worldwide insurance market. Lloyd’s is recognized as a market leader in the accident and health insurance arena, and is well-known for its innovative products and services. Presently, Lloyd’s provides accident and health insurance to millions of individuals in almost every country in the world.
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