PROBLEM:
PLAN SPONSOR HAS A HIGH RISK INDIVIDUAL WITHIN THEIR HEALTH PLAN WHO HAS BEEN LASERED BY AN UNBUDGETABLE AMOUNT ($350,000) PLACING THE PLAN SPONSOR’S HEALTH PLAN AT RISK.
SOLUTION:
1 PLAN SPONSOR GIFTS $50,000 TO NON-PROFIT CHARITABLE FOUNDATION & GAINS TAX ADVANTAGE
2 FOUNDATION ASSISTS PLAN MEMBER TO APPLY FOR AN INDIVIDUAL HEALTH INSURANCE POLICY
3 INDIVIDUAL POLICY ISSUED – ALL PRE-EXISTING CONDITIONS COVERED. RISK IS REMOVED FROM PLAN SPONSOR
4 DEBIT CARD ISSUED TO MEMBER FULLY LOADED TO COVER COST OF INDIVIDUAL POLICY AND ELIGIBLE OUT-OF-POCKET EXPENSES (DEDUCTIBLE, COPAYS, COINSURANCE)
AND THEY LIVED HAPPILY EVER AFTER………………..
PLAN SPONSOR SAVES $300,000 IN LIABILITY WHILE EARNING A TAX ADVANTAGE AT THE SAME TIME. PLAN MEMBER GETS BETTER HEALTH INSURANCE COVERAGE (100%, NO DEDUCTIBLE, NO COPAYS, NO COINSURANCE).
