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We recommend that we handle all lines of employee benefits. We do so to make sure that you are in compliance with all government regulations and all plan languages say the same thing. Also, this helps in making sure we do not have any overlapping benefit coverages. We review:
Definition of Full Time Employees- Are they the same in all policy language?
Probationary Period- Is this consistent?with what you need? Are all policy languages the same?
Summary Plan Description- Is this easy to read? Does it explain the benefit thoroughly?
COBRA- Is the benefit eligible for COBRA? Is it Portable?? What is your role in this?
5500's- Are all plans on the same fiscal year? When are 5500's due? Who is doing them?
Claims Monitoring- Who is monitoring claims? Have you had a good claims year? Bad?
Rate Lock- How long of a rate lock do you have on these lines? Can you get 2, 3 or 4 year rate locks?
Extra Benefits- What is definition of disability on current LTD policy? Is rehabilitation mandatory? Voluntary? Is there a 401(k) feature? Does the benefit pay to age 65 or to NRA? Is there a COBRA benefit attached? On current Life policy, is there an accelerated death benefit? Return to Service & Solutions |
