To our valued customers,
In order to competitively continue offering our Cost Plus Plan, we will be increasing its administrative fees from 3% to 8% starting January 1st, 2020. This is the first time since the plan's introduction in 2001 that we have changed its fees and are proud to say that we are still well below the industry average of 10-15%.
This incremental fee increase allows us to competitively provide this service that we know is valued by so many. For those unaware of how the Cost Plus Plan works - it is a pay-as-you-incur plan that allows group sponsors to pay for medical expenses tax-free, typically not covered in their existing group plans for C-suite or executive employees. To learn more about it, read our blog or contact your trusted advisor.
As always, thank you for being valued members of our co-operative.