Refreshed with 2024 pricing: Requiring MEC for your QSEHRA plan that fulfills QSEHRA requirements and QSEHRA regulations? Here’s an assortment of your finest selections for MEC plans for QSEHRA (Qualified Small Employer HRA).
QSEHRA Regulations and MEC
QSEHRA is the recent, tax-effective approach for small businesses to provide health benefits. If your employer is providing you a QSEHRA, congrats! It might take some time to grasp, but we are confident you’ll swiftly grow fond of it. It’s the only setup among small business health insurance options that enables employees to get reimbursed for individual health premiums and medical expenses (if allowed by the QSEHRA). Essentially, you’re being handed a blank-check of pre-tax money to expend on what you need.
However, before you can engage in your employer’s QSEHRA, you must provide verification of Minimum Essential Coverage (MEC). This is simple if you have a major medical plan or are covered by your spouse’s group plan–you probably already have MEC! But what if you would like to use an alternative plan like a sharing ministry, short-term plan, indemnity plan, or another type of plan? These types of plans will not fulfill the MEC requirement on their own. The positive news is there are options to purchase MEC for yourself and your family that will enable these plans to work with QSEHRA. MEC plans can also be a nice compliment to sharing ministries, short-term, and other alternative plans by covering preventive services not typically covered by alternative plans.
→ Read a client’s story of using Medi-Share and QSEHRA with Take Command.
Where to acquire MEC for QSEHRA Plan
Important! The subsequent vendors vend what’s labeled P-MEC or “Preventive-Only MEC”. These plans satisfy the MEC requirements by furnishing 100% of your and your families preventive care. These plans will not safeguard you if you’re unhealthy or injured and should not be considered insurance. They will merely pay for your physicals, well visits, inoculations, screenings, and other preventive needs (you can see a full list of what they cover here) and nothing else. So please, ensure you’ve procured sufficient coverage to accompany these plans. We do not advocate for these plans, although some vendors are offering discounts to our members. You will need to complete any applications with these vendors on your own. We simply are supplying a list for you. Here you go!
North American Health Plans
North American Health Plans offers a preventative MEC plan called SelectMed that qualifies as MEC for QSEHRA. There are also three levels of SelectMed plans available, and you can read through the benefits in each tier on pages 4 and 5 of their brochure here. Pricing varies based on the tier (as does extent of coverage).
Here is an overview of their monthly plan pricing.
North American Health Plan Monthly Premiums
|SelectMed Pro||SelectMed Max|
|Individual + Spouse||$233.97||$398.97|
|Individual + Child||$225.11||$409.19|
The basic plan covers just your preventative & wellness services. The higher tiers begin to add in some basic benefits for specialists, treatment of injuries, prescriptions, mental health, MRIs, etc. Be sure to read up on each plan, and the limitations on the benefits, to make sure you know what each one covers.
This MEC plan is not available in Alaska, Hawaii, Massachusetts, and New Hampshire.
To enroll, you can reach out directly to Lynne Timm, LUTCF, insurance advisor, at North American Health Plans, at firstname.lastname@example.org or 214-762-4247. Lynne can also help you research to find your doctors, and help you figure out what plan is best for you.
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This post was initially published in 2018 and has been updated with new information and insights for 2023.