1.) Payments The company pays a premium, typically fixed for a year, to the insurance carrier. The monthly premium normally only changes during the year if the number of enrolled employees in the plan changes 2.) Assumption of Risk The insurance carrier collects the premiums and pays the health care claims based on the coverage […]
Continue ReadingNews
Do You Provide Compensation To Employees Who Opt Out of Benefits?
“Cash-in-Lieu” Options Face Compliance Hurdles in 2017by nahucompliance IRS rules further regulating cash-in-lieu (opt-out) programs are effective the first day of the plan year beginning on or after January 1, 2017. The rules provide for two different types of cash-in-lieu or opt-out arrangements: conditional and unconditional. The easiest opt-out plan administratively is an “unconditional opt-out” […]
Continue Reading