Most employees consider group insurance to be one of the most important benefits that they receive from their employer. Rising costs have dramatically changed the types of benefit programs and how they are administered. At the same time there are new opportunities for small businesses to control cost with managed care programs. Research this subject carefully and seek professional assistance if you are considering changing an existing plan or adding this benefit for the first time. You might want to start with your professional trade association as well as an insurance professional.
Once you select the insurance coverage that is right for your company, the insurance company will frequently provide or help you prepare detailed information about insurance benefits. The personnel handbook simply gives an overview of the type of coverage your company offers and who is eligible for it. Refer the employee to the details in a separate benefits handbook.
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Small Business Notes Small Business Notes makes health insurance, life insurance and accidental death coverage (group benefits) available to eligible employees and their eligible family members. The Company pays the majority of the premiums for the group benefits, with the employee sharing the balance of the cost. Single and family plans are set at different contribution rates. Long term disability benefits are also offered at no cost to employees. The low cost of these benefits is an important part of each eligible employee's compensation package. Eligible employees may also purchase optional life insurance for spouses and dependents. Eligible employees are all full time employees who have completed ninety (90) calendar days of employment, and part time employees who work at least twenty-five (25) regular hours a week and have completed ninety (90) calendar days of employment. Specific details on coverage and benefits are outlined in Small Business Notes' Health Benefit Handbook that is provided to you during employee orientation. You will also receive authorization forms for all benefits at orientation. Please see your personnel representative if you have not been scheduled for orientation or have not received the Benefit Handbook. |
