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Issue: # 76February 15, 2012
 

 

 

Greetings!  

 

 

Over the past ten years, many small businesses have dropped dental insurance due to  increasing health insurance premiums.  Some medical plans, like Fallon Community Health Plan, provided a mini plan with preventive services to subscribers.  But, as of  2012 there are no medical plans that provide a basic dental plan included in their monthly medical premium.   

 

We have worked with many employers to fill this gap.  Some employers will offer to implement a dental plan, but not contribute to the cost. With employees paying 100% of the premium, it is difficult to achieve the required participation level that most plans want.     

 

Last year, we started working with a national carrier to develop a plan and solution for these small businesses.  Ameritas is one of the largest dental providers in the United States and currently insure 4.8 million for dental or vision.   

 

We are pleased to announce a new plan that provides the following:

  • Easy Participation Requirements (only need 3 people enrolled)
  • Both Preventive Dental & Vision protection
  • NO waiting period for benefits
  • Tax deductible premiums
  • Any Dentist - Anywhere
  • NO employer contribution.   
  • $150  TAX FREE reimbursement annually for eye glasses and frames

 

We got it!   

 

Below is more detailed information on the new Central Mass Dental and Vision Plan  (CMDAV).    If you think this may be a great opportunity, please download the survey/enrollment form from our website, pass out to employees and let us know the results.   We only need three employees to start coverage for you!!

 

If you have a question, send an email to  Bill or Vanessa today.

Bill Randell CLU,CHFC,       Vanessa Costa CLU,CHFC,

 

 

 

 

 

Benefits Day 1--no waiting period

 

This plan will cover preventive & basic dental needs on a weekly tax deductible basis through a Section 125 Plan.  If you do not have a dental plan then you are currently paying for these same expenses with after tax dollars.   

 

Besides transferring a NON deductible expense to a Pre-Tax weekly payroll deduction, employees will also be eligible for the $150 reimbursment tax-free for eye glasses, frames and contacts!!   Buy your frames, contacts or glasses wherever you want then submit a claim for a reimbursement up to $150 TAX-FREE!   It may remind some of your health club reward program that many HMO's offer.

 

Type 1 Benefits (No Deductible):  100% coverage      

Cleanings

Routine Exams

Bitewing X-rays

Fluoride

 

Type 2 Benefits  ($50 deductible): 80% coverage

Fillings

Root Canals

Oral Surgery

Endodontics & Periodontics

Wisdom teeth extraction

 

Calendar Year Maximum

$750

 

Fusion Eye Care Benefits

$150 reimbursement for eye glasses and frames.   Please note if you take advantage this , your calendar year maximum for Type 1 and Type 2 benefits would then drop to $600

Ameritas passive network  

 

Ameritas will allow you to seek treatment from any dentist anywhere.  However, they do have a list of participating dentists who have agreed to accept the Ameritas reimbursement  schedule.  You may choose dentists in this network or not.

 

The Ameritas dental network, offered by CMDAV is a passive network.  If you go to a partaicipating dentist, you will not have to worry about balance billing.  Their network, which is quite extensive nationally can be accessed at this website.    You can also go to the CMDAV website and look at the most recent directory of dentists in Central Massachusetts.

 

You can, however, see dentists outside the network and they will be reimbursed at the 90th percentile, which means that 9 out of 10 dentists outside the network will be satisified with the Ameritas reimbursement.     On the other hand, 1 out 10 will not will not be happy and may send you a "balance bill".   

$3 per week for a single subsciber 

 

 

The actual weekly deduction is $8.49, why did we just say $3?? 

 

1)  The $8.49 week deduction will be withdrawn tax deductible from your check through the company sponsored Section 125 Plan.   The tax advantaged payroll deduction of $8.49 will yield an approximate reduction of only $6 per paycheck.

 

2)  If you take advantage of the $150 tax-free eye care reimbursement benefit, this gives a return of $3 per week tax free of your premium.  The $6 per week net reduction gets further reduced to $3 per week! 

  

The rate for two people (employee/spouse or employee/one child) is 13.17 per week, while a full family will be 24.30 per week.  The actual net cost will be less after you factor in the tax deductibilty of the premiums and the tax-free receipt of eye care reimbursement.

Employer savings!  

 

Not only is this a great benefit to offer employees with no outlay, but you actually save money!  Section 125 eligible deductions not only lowers the employee Federal, State and FICA obligations, it lowers the employer matching FICA obligation!!

 

It is as simple as this:

  1. Download the Survey 
  2. Three people say yes and we can get started