|
IS YOUR COMPANY A GOOD CANDIDATE FOR A GROUP INSURANCE PROGRAM?
a. Your company is financially stable and has been in existence
for over two years
b. Your company has few if any employees engaged in high-risk
occupations
c. Low employee turnover.
d. Employees are dispersed among a number of age groups, younger
employees tend to have less claims which can help keep renewals
down.
e. You have a number of employees who are working at least
24 hours/week throughout the year.
f. You as the employer are willing to contribute to at least
25% of the cost of the entire program.
g. You are in an industry that is eligible for group insurance
programs.
h. You must have participation from the required number of
employees to meet the contractual obligations of the plan.
i. Employees are currently healthy and not struggling with
major health issues.
Group insurance programs where the employer pays 100% of the
premium must have 100% of employee participation
Group insurance programs where the employer pays less than 100%
of the premium usually must have at least 75% employees enrolled
Employees are generally only able to waive Extended Health Care
and Dental Care if they are covered under a spousal program that
provides these benefits to them.
This material is for information purposes only and should
not be construed as legal or tax advice. Every effort has been
made to ensure its accuracy, but errors and omissions are possible.
Individual circumstances may vary and specific legal and tax advice
is recommended.
This strategy is based on current tax legislation. Future
tax changes and market conditions may affect this program.
back to top
|
