Attract Employees, Improve Health: Supplemental insurance options and benefits.

• Author: Barbour, Tracy
• Position: INSURANCE

As a medical practice, Advanced Physical Therapy is not only dedicated to improving patient health but is also committed to caring for its eighty-five employees. Advanced Physical Therapy has a full medical plan for all of its eligible employees--those who have been with the company for at least sixty days and work a minimum of thirty hours a week. The company, which has five locations in Alaska, also offers dental and vision insurance as part of the group plan it carries through Premera Blue Cross Blue Shield of Alaska.

Advanced Physical Therapy strives to offer a generous benefits package. "For medical and dental, we pay 85 percent of the premium for employees and for any dependents they have on their plan," says Practice Administrator Divida Pastorino. "For vision, we pay 100 percent of the coverage for our employees. The employees have to pay for their family's vision plan, which is a minimal fee. The maximum for a family vision plan is $22 per month."

Advanced Physical Therapy also provides $50,000 worth of life insurance, short-term disability, and long-term disability coverage. It pays 100 percent of the cost for employees, who may purchase additional life and disability insurance for their dependents. The company gives workers a health reimbursement account (HRA) card preloaded with $2,500 that they can use for prescriptions, medical copays, acupuncture, massages, and other qualified expenses.

The HRA card, which works similar to a prepaid Visa debit card, is issued to all employees who work thirty hours a week or more--even if they are not on the company's insurance plan. Offering this perk, along with the other supplemental insurance benefits, are all part of the company's culture. "It's important that we make sure our staff is taken care of, and offering good medical insurance and other benefits helps with that," Pastorino says.

Insurance Types and Providers

Companies like Advanced Physical Therapy are capitalizing on supplemental insurance to help their employees protect their health and financial wellbeing. These products--sometimes referred to as ancillary or voluntary insurance--are often provided as part of employers' regular health coverage. They are available from a variety of sources throughout Alaska, including Aflac Inc., State Farm, Premera, New York Life, and Colonial Life & Accident Insurance Company.

Aflac--which stands for American Family Life Assurance Company--is one of the largest providers of supplemental insurance in the United States. It sells supplemental insurance on both the individual and group platform.

Aflac offers individual products that cover various issues related to accidents and serious medical conditions, as well as programs that focus on replacing lost income. Aflac agents are also equipped to sell some of the most requested benefits such as vision, dental, and life insurance. Employees can purchase most of these products directly from an independent agent licensed to sell Aflac products. "Today, there are more than 1,000 companies across Alaska that allow agents to offer Aflac products on site to bolster their benefit offering for their valued employees," says Joe Price, an Aflac marketing director who is based in Renton, Washington, and handles Alaska.

Aflac agents can also offer group...