Frequently Asked Questions

ExecuCare is designed to supplement your company’s primary health insurance plan. This supplemental health insurance policy is underwritten by SiriusPoint America Insurance Company, form series SASM 1000 et. al.

ExecuCare is designed to meet the specific needs of busy business owners and leaders. While owners of certain entities may be ineligible to participate in tax-efficient options like HRAs and FSAs, ExecuCare is available to any active employee including partners, >2% shareholders, retirees and even board members. That’s why some refer to ExecuCare supplemental health insurance plan as an executive reimbursement plan or executive lifestyle plan.

ExecuCare requires that your company offers a primary health plan, whether that’s fully insured, self-insured or level funded. Common plans include PPO plans and High Deductible Plans, such as those offered by Cigna, Aetna or BlueCross BlueShield. The primary health plan must include hospital, medical and prescription coverage. We cannot supplement an individual medical plan. You do not need to be enrolled in a primary dental or vision plan to have ExecuCare.

Annual plan maximums are $25,000 to $75,000. You can see the various plan options here.

Our plans are group insurance plans, not individual plans, meaning the policy can only be purchased by an employer. As the employer, it is up to you whom you wish to enroll. There are a few conditions. First, you need to have a minimum of 2 separate employees (and their families if they are covered by your company primary health plan). In other words, you cannot count yourself and your spouse separately. Second, the coverage must match the coverage level on the primary health plan. So, if you have family coverage for that plan, you need to enroll at the family level in the ExecuCare plan.

The ExecuCare plans are guaranteed issue, meaning you don’t need a medical exam or disclosure of medical history. There is no waiting period, and you can start coverage on the first of any month.

ExecuCare’s premiums vary depending on the plan level you choose, the characteristics of your primary health plan and the demographics of those you enroll. We take into account who is being covered along with what amount of expenses you are likely to incur with a specific primary health plan. For instance, a primary health plan with a large deductible will have a higher ExecuCare premium than a primary health plan with a lower deductible since we will be reimbursing more for the former.

This employer-paid supplemental health plan can be written for companies based in any state except: CA, CT, MD, ME, ND, NH, NJ, NY, UT, VT or WA. However, in those states, we do have other products that may be available if you want to contact us to learn more.

Out-of-pocket medical expenses can include your total deductible amount and your co-insurance, which could add up to thousands of dollars each year. The average expenses for a business leader are typically over $10,000. And if you experience a catastrophic medical event or diagnosis, costs can be much higher. In addition, ExecuCare reimburses many expenses that are not covered by primary health plans, including wellness services (such as acupuncture and prescribed massage therapy), preventive services (such as Executive Physicals), as well as dental and vision expenses. Plus, as a fully insured IRS Section 105(h) plan, your ExecuCare reimbursements are tax-exempt and your employer-paid ExecuCare premiums are tax-deductible, both adding a layer of cost savings.*

*This is not local, state or federal tax advice as each person and each company is unique. It is recommended that you seek the independent counsel of a professional tax adviser.