Employee Benefits

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	Employee Benefits
	Group Health- Employers have the option of purchasing different forms of group health insurance products: HMO: health maintenance organizations, PPO: preferred provider organizations, POS: point of service plans, dual option plans and partially funded plans.
	Workers’ Compensation- State law requires that every employer with 4 or more employees must provide workers’ compensation insurance. This insurance provides coverage for accidents or disease arising from employment as prescribed by these state laws.
	Group Life- Products included are death and accidental death & dismemberment benefits, which can range from $15,000 to $750,000. Supplemental and dependent products are also available. Many carriers offer accelerated death benefits, which allow employees to accelerate up to 75% of death benefit to help pay medical expenses if terminally ill and life expectancy is less than 12 months (min. $10,000 benefit required).
	Group Dental- This insurance can be purchased through an indemnity plan, DHMO- dental health maintenance organization, and other options.
	Short-term Disability- Protects against short-term loss of income due to injury or illness.
	Long-term Disability- Protects against long-term loss of income due to injury or illness.
	Pension Plan Bonding- The Pension Reform Act of 1974 requires the fiduciaries of pension or profit sharing funds to post a bond for 10% of the amount of funds handled.
	Employee Benefit Liability- This coverage is used to insure against negligent acts, errors or omissions committed by you or any person for whose acts you are legally responsible for while engaging in the management of your company’s employee benefit plans.
	Employment Practices Liability- Liability insurance protection for lawsuits arising out of employment practices pertaining to: sexual harassment, discrimination or wrongful termination.