Employee Benefits

In today’s business environment of soaring health insurance costs and declining plan benefits, key employees who drive a business’s growth and success are increasingly making employment decisions based on companies that offer coverage and benefits that are unique and provide value. Our ExecSelect plan addresses this challenge, providing your key employees with these benefits:    

Covers Out-Of-Pocket Healthcare Expenses 
Our plan reimburses key employees (and their eligible dependents) for out-of-pocket medical expenses that are not covered by their employer’s basic healthcare plan. Our broad range of covered expenses includes:***

  • Deductibles, coinsurance and co-pays
  • Annual physicals and preventative screenings
  • Prescription drugs and certain over-the-counter drugs
  • Dental care and orthodontia
  • Vision care, including eyeglasses, contact lenses and LASIK
  • Hearing aids and examinations
  • Chiropractic services
  • Smoking cessation programs
  • Speech therapy
  • Private-duty nursing and in-home healthcare
  • Physical therapy services
  • Inpatient/outpatient care for psychiatric disorders
  • Facilities and treatment for alcohol and/or drug abuse
  • Expenses for the diagnosis and treatment of infertility
  • Medical supplies and equipment

*** Some limitations and exclusions may apply.  Refer to our policy or plan representative for more information.

Valuable Tax-Advantaged Benefit
Claim reimbursements paid to key employees are typically excluded from the employee’s gross annual income – thus providing them with a typically tax-free compensation benefit.*

 *Sankaty Light Benefits does not provide tax, legal or accounting advice. The material in these presentations is set forth for informational purposes, and is not intended to provide, and must not be relied on for, tax or accounting advice. Readers should consult their own tax, legal and accounting advisors for advice on their specific situation.

Individual And Family Coverage

ExecSelect covers participating employees as well as their spouse or domestic partner and children up to age 26, regardless of pre-existing conditions.

AD&D Coverage At No Extra Cost
As a value-added benefit, our plan includes Accidental Death & Dismemberment (AD&D) coverage at no charge. If an insured employee loses his/her life due to a covered accident, our plan pays a $100,000 benefit to the employee’s designated beneficiary.  If a covered accident results in the loss of a limb or eyesight, a portion of the benefit is paid according to the severity of the injury. The AD&D benefit only covers the insured employee, is reduced to 70% at age 70, and terminates at age 80. Spouses and dependents are not eligible for AD&D coverage. (Other limitations and exclusions apply; refer to our policy or plan representative for more information.)

24/7 Worldwide Coverage
Participating employees (and their eligible dependents) are covered whenever and wherever they travel.

Super-Convenient, Confidential Claims Submission
Our online claims submission form is easy to complete and HIPAA compliant.

Superior Claims Processing And Payment
We provide super-fast claims processing and approval, with claim reimbursements paid directly to employees (via automatic bank deposit), who can use the payment however they desire.