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See How Members Save:
A member was insured through State Farm for his Workers' Compensation policy. When he received his renewal, he called Marsh, just to see how his rate compared to the COA sponsored plan. He found that by moving his policy to the sponsored plan, he was able to save $3,198 per year! (Over 35%) A member insured with Zurich for her Business Owners Package and Professional Liability called a Marsh representative for information on the sponsored plans and found that she could save by separating the two policies. By cancelling only the Professional Liability portion of her policy, and moving it to the COA sponsored plan, she could save $488 on the same coverage! |
If you have any questions regarding the sponsored insurance programs please contact a Marsh Client Service Representative at (800) 775-2020 or e-mail us at COA.Insurance@marsh.com.
This web page is for illustrative purposes only, and is not a contract. It is intended to provide a general overview of the services described. Remember that only the policy can provide the actual description of services, terms, conditions and exclusions.
• Accidental Death and Dismemberment Program
• Long Term Disability Program
• Business Overhead Expense Program
• Long Term Care Program
• Auto and Homeowners Program
Select the coverage limits that suits your needs, up to $2,000,000 per incident, $4,000,000 annual aggregate.
Highlights Include:
• Legal fees and court costs paid for covered claims.
• Lost wages can be collected if you are required to appear in court due to a claim filed against you.
• You are covered for the performance of services as a member of a professional board or organization.
Transparency & Disclosure
ZNAT Insurance Company, a wholly-owned subsidiary of Zenith Insurance Company, is the underwriter for the California Optometric Association program.
(rated "A" by A.M. Best and Company)
Transparency & Disclosure
• The Business Real Property You Own
• Business Personal Property
• Business Liability
• Premises Medical Payments
• Professional Liability Coverage also available as an endorsement on the BOP Policy
Transparency & Disclosure
Risk Management
- Web based training for members, office managers and employees to help minimize exposure to employment practices lawsuits
- Access to a legal information hotline staffed by employment practices attorneys
- Review of employee handbooks and employment applications
Insurance
- Choice of policy limits of $250,000, $500,000 or $1,000,000
- Low minimum premium of $750 ($1,000 in LA County)
- Low per claim retention of $2,500 ($5,000 in LA County)
- Provides for defense costs and losses an insured becomes legally obligated to pay as a result of a covered claim.
- 60 day extended reporting endorsement included
In order to open a Health Savings Account, you must satisfy these four eligibility guidelines: 1) you must be enrolled in a qualified high deductible health plan (not just a health plan with a high deductible), 2) you may not be covered under any health plan that is not a high deductible health plan, 3) not be enrolled in Medicare, and 4) not be claimed as a dependent on another person’s tax return.
Significant premium savings are available through a number of qualifying high deductible health plans (HDHP) on an individual or group basis. For more information or a quote on any of these plans, please call a Client Service Representative at 800-775-2020 or download the quote request form below.
For Individuals and Small Groups (2 – 50)
You have a choice of health care programs for your family and your employees. Programs include: PPO, HMO and HSA.
HMO Plans:
• Low out-of-pocket costs and unlimited lifetime benefits for covered services.
• Minimal co-pays for office visits and self-referral for OB/GYN (women's health specialists).
• Specialty services include allergy, dermatology and ear, nose and throat.
PPO Plans:
• Direct access to the doctors, hospitals and specialists of your choice.
• Immediate (deductible-free) benefits on some plans for office visits and generic drugs.
• Low negotiated provider fees that substantially reduce your out-of-pocket costs.
(Marsh and COA do not provide tax advice. Please consult with your personal advisors.)
Open a Health Savings Account! Sign up online with HSABank.com
Highlights Include:
• Calendar year deductible: $50 per insured/$150 per family
• No deductible on diagnostic and preventive services
• $1,000 maximum per calendar year for each insured
Underwritten by: Delta Dental (rated "A-" by A.M. Best and Company)
ReliaStar Life Insurance Company, one of the ING family of companies, is the new insurer of the association sponsored Level Term Life program. The program offers members two insurance options: 10-Year Level Term and 20-Year Level Term.
And, you may apply for amounts from $200,000 up to $1,000,000!
Rates for the first 10 or 20 years of your coverage are locked in so that you do not experience increases in premium as you get older. This results in substantial premium savings during the life of the coverage. After the initial 10 or 20 year term period, you can reapply for coverage at your then attained age or transfer to the regular term life program if you no longer qualify through underwriting.
Each plan also includes both a travel assistance service and a funeral planning and concierge service at no additional charge to you.
You may also insure your spouse or domestic partner, and your eligible employees may apply for coverage as well.
For members who wish to apply for amounts from $50,000 to $150,000, a traditional annual renewable term plan is available.
Level Term Life Insurance is underwritten by ReliaStar Life Insurance Company.
Policy form LP08GP.
Level Term Life Plans: Transparency & Disclosure
- At death, the face amount plus accrued cash values are paid
- No administrative fees or surrender charges
- You may skip payments to the cash account
For More Information, or to Enroll:
Go to www.MetLife.com/MyBenefits. Enter "COA" when prompted for your Company Name.
Call 1-800-301-3688 if you have questions, or to request enrollment materials be sent to you.
Underwritten by: Metropolitan Life Insurance Company (rated "A+" by A.M. Best and Company)
Transparency & Disclosure
- Loss of Use Benefit - 1% of Principal Sum Per Month
- Seat Belt Benefit - up to $10,000
- Spouse Retraining Benefit
- Private Pilots Coverage (20% of Face Amount to $250,000)
- Hospital Benefit
Underwritten by: Unum Life Insurance Company of America (rated "A-" by A.M. Best and Company)
Underwritten by New York Life Insurance Company
Apply for up to $10,000 Monthly Benefit
A total disability could stop your ability to earn an income in a split second. Make sure you have a reliable financial plan in place that includes long term disability income protection. Members can turn to the COA endorsed Group Long Term Disability Income Insurance that protects members in their medical specialty.
Features include:
- A 10-Year Medical Specialty Definition of Disability defined as the inability due to illness or injury, to work in your own specialty as an optometrist for the first 10 years after the waiting period (a very important distinction vs. many plans with a broad “inability to do ANY job” definition).
- For disabilities occurring prior to age 60, the plan provides benefits for total disability until your normal retirement age from either covered injury or sickness.
Optional Catastrophic Benefit – If a benefit for total disability becomes payable, and you become cognitively impaired or unable to perform two or more Activities of Daily Living (ADL’s) as defined, you may be eligible to receive an additional monthly benefit of $1,000, $2,500 or $5,000 per month for a maximum of 24 months, subject to meeting qualifying criteria.
To learn more about this coverage—features, costs, eligibility, renewability, limitations, exclusions and underwriting insurance company—or if you wish to apply, click here.
About the Underwriter:
New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the insurance brochures for current availability. New York Life's state of domicile is New York, and NAIC ID # is 66915.
This Plan is designed to provide coverage for the normal operating expenses of your current practice which are incurred while you are Totally Disabled. Eligible Overhead Expenses include, but are not limited to: office rent, interest payments on existing business equipment or furniture loans, utilities (heat, water, telephone, electricity, etc.,) employees’ salaries and payroll taxes, rental, lease or depreciation of office equipment, monthly average of taxes on the premises, insurance premiums, accounting fees (to the extent that such expenses are normal and customary in the conduct and operations of the business,) professional membership and/or subscription dues, such other fixed expenses as are normal and customary in the conduct and operation of your office.
If you’re incorporated, a partner or joint tenant, Eligible Overhead Expenses include only your share of overhead expenses.
Eligible Overhead Expenses do not include: the salary, fees, drawing accounts, profits, or any compensation for you, your partner or any member of your profession employed by or working for you; any individual hired after the date your disability begins; income taxes; personal expenses; charitable contributions; the cost of purchase of office equipment, goods or merchandise; or the payment of principal on any indebtedness.
About the Underwriter:
New York Life is licensed/authorized to transact business in all of the 50 United States, the District of Columbia, Puerto Rico and Canada. However, not all group plans it underwrites are available in all jurisdictions. Please check the insurance brochures for current availability. New York Life's state of domicile is New York, and NAIC ID # is 66915.
Helps Protect You Against the Rising Cost of Nursing Home, Community Care and care at home.
Although you may believe that you are too young to start thinking about long-term care and its costs, consider this: premiums are based on age, the younger you are when you purchase this coverage, the lower your premium will be.
Insurers reserve the right to adjust future premiums for all policyholders by state and class. Your premiums will never increase due to changes in your health status or your age. The Long-Term Care Insurance Plan sponsored by the California Optometric Association can help you protect your assets while providing you with the high quality protection you need. Your parents and parents-in-law can also apply for this coverage.
The Plan reimburses benefits during covered nursing home stays and offers several choices of daily benefits and payment maximums. An inflation protection option is also available.
In addition, home and community care coverage is available to complete your long-term care protection. This coverage reimburses for covered care at home and in the community, such as adult day care centers.
As a California Optometric Association member, you have access to a special benefit—the Long-Term Care Resources Network, a unique long-term care buying service. This benefit allows you to work with a long-term care insurance representative who will give you all the information about benefits and rates of different highly rated long-term care provides. With so many different providers, you may have questions about the coverage they provide:
- Which plan or options offers the least expensive premium? Is one plan more flexible than another to help fit into my budget?
- What if I have a current health condition—can I still get coverage?
- What about protection for my spouse? Are there couple discounts available if we both apply?
- Are there discounts for healthy applicants?
- Which long-term care insurance offers more of the benefits I want or need?
One simple phone call to the Long-Term Care Resources Network for COA members is all it takes to start protecting your assets from long-term health risks and get your questions answered. No obligation necessary! For more information, a one-on-one consultation with an experienced Long-Term Care Resources Network Representative and how to apply, please call 1-800-616-8759 or visit www.myltcplan.com/coa.
FAQs
What is the Cost of Care?
The cost for nursing home private room care varies by state.
What is the Cost of Waiting to Purchase Long-Term Care Insurance?
If you are thinking of waiting to purchase long-term care insurance coverage, consider the impact of waiting:
- Increases the risk of being ineligible for insurance
- Decreases the overall time you have long-term care insurance coverage
- Can increase the overall cost of coverage because premium rates increase with age
Waiting delays covering your long-term care risk and can cost you money.
Won't the Federal Government Pay for My Long-Term Care?
While many people think the federal government pays for long-term care expenses, nationally, over 25 percent of all nursing home expenses are paid out-of-pocket by individuals and their families. Neither Medicare, Medicare Supplement Insurance nor the major medical health insurance provided by employers is designed to pay for long-term care expenses.
Highlights of the Group Savings Plus Program
• Covers automobiles, homes, personal articles, personal umbrella policies, valuable possessions, seasonal dwellings and recreation vehicles.
• 24-hour roadside assistance* and round-the-clock claims service
• Enroll over the phone or visit a local office.
• Contractor Network Referral Program
For an on-line quote, please go to Liberty Mutual's Quote Page at www.libertymutual.com/caoptometricassoc. Or call Liberty Mutual at 1-800-524-9400.
* Service applies to auto policyholders and is provided by Cross Country Motor Club of Boston, Inc., Boston, MA or through Cross County Motor Club of California Inc., Boston, MA.
Underwritten by: Liberty Mutual (rated "A" by A.M. Best and Company)
Call a Client Service Representative at (800) 775-2020 or e-mail us at COA.Insurance@marsh.com
To receive information on the sponsored programs complete an Interest Form
Page last updated 12/19/2011
d/b/a in CA Seabury & Smith Insurance Program Management • CA Ins. Lic. #0633005
©Seabury & Smith, Inc. 2012 • AR Ins. Lic. #245544
Marsh/Seabury & Smith Insurance Program Management (Marsh) makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of Marsh or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.
