Since 1980 companies of all shapes and sizes have taken advantage of insured executive medical reimbursement plans. With the passage of the Patient Protection and Affordable Care Act last year, prospects for the continued marketing of these plans looked bleak at best, but isn't it strange sometimes how quickly things change?

On Dec. 22, 2010, the Internal Revenue Service issued Notice 2011-01 delaying the effective date of the new health care reform's requirements that insured health plans meet the same nondiscrimination rules that apply to self-funded plans under Section 105(h). With the issuance of that notice, the doors have been opened again to begin marketing insured executive medical reimbursement plans.

Even before this notice was issued, certain plans may have been excepted if they were provided under a separate policy, certificate or contract of insurance. Regulations specify that for coverage supplemental to a group health plan to qualify as excepted benefits, the coverage must be specifically designed to fill gaps in primary coverage, such as coinsurance or deductibles. Also, some plans have already removed any annual limit the plan might have and added coverage for dependents up to the age of 26.