Financial Planning Association Offers Health Plan to its Members
The plan, in development for the past two years, is being offering in partnership with Ryan Insurance Strategy Consultants.
The Financial Planning Association (FPA), in partnership with Ryan Insurance Strategy Consultants (RISC), is offering a FPA Health Plan to help financial planners who are members of FPA gain access to affordable health care coverage for themselves and their employees. In response to member demand, FPA and RISC worked to develop the health plan for the past two years.
The offering includes level self-funded health plans with rates approximately 25% lower than comparable Affordable Care Act (ACA) plans. Group health plans can be customized with different co-pays and deductibles. Employers can offer short-term medical plans, medi-gap products, customized health savings account (HSA) plans and such senior-oriented products as Medicare supplement and advantage plans.
The plans can include dental and vision plans, critical illness and accident plans, individual life insurance, individual disability income, long-term care insurance, deductible credits for the same calendar year and AETNA Signature Administrators PPO medical network.
“FPA is thrilled to be one of the first-to-market with a national group health plan to help our members address their personal health care needs, but also stay competitive, attract the right employees and grow their business,” says FPA Executive Director and CEO Lauren Schadle. “Designed to meet the growing needs of our members, this new benefit is another example of how FPA drives member value to help practitioners create scalable businesses and achieve desired outcomes.”
Initial rates and coverage eligibility will be shared with applicants shortly after their employees complete medical history statements and submit forms for underwriting.