My employee is offering the group insurance plan. I have got an individual term life insurance policy. Do I need this employee plan? Can my employee force me to take in this any way?
Total Comments: 5
Posted: Mon Jun 11, 2012 03:56 pm Post Subject:
This makes no sense. Employees cannot force employers to provide group insurance benefits. Troublesome employees can always be fired by employers.
Posted: Mon Jun 11, 2012 03:56 pm Post Subject:
This makes no sense. Employees cannot force employers to provide group insurance benefits. Troublesome employees can always be fired by employers.
Posted: Tue Jun 12, 2012 09:57 am Post Subject:
Max is right. If your employer is paying for the coverage, then take it, but they can't force you accept group coverage. If you do take the group coverage, keep in mind, you can't keep that sort of coverage if you switch jobs or are laid off.
Posted: Tue Jun 12, 2012 08:35 pm Post Subject:
An employer CAN require that an employee be included within a group life or health plan... it's dependent upon who is paying the premium.
If the group plan is considered what's called a "noncontributory" plan, this is a plan in which the employer pays 100% of the premium on behalf of an employee. This is not considered a taxable event to the employee for group health, and in group life, is only potentially taxable. The IRS, under what are known as "imputed income" rules, states that an employer who pays for MORE than $50,000 of group life is required to consider the premium paid for insurance amounts over $50,000 as taxable income to the employee.
So, if the plan is noncontributory, insurers normally require 100% of the eligible employees to be enrolled within the plan. Since the employee is not paying the premium for the coverage and the insurer requires "100% participation," coverage can be considered mandatory.
For amounts of coverage over $50,000, these "extra" amounts are generally voluntary on the part of the employee.
InsTeacher 8)
Posted: Wed Jun 13, 2012 04:27 am Post Subject:
My employee is
and
Can my employee force me
InsTeacher is quite correct when the EMPLOYER is providing the insurance, although an employee is not forced to actually use the insurance benefit the employer provides at his own expense. Most group life insurance IS noncontributory and beneficiaries often receive checks they never knew they were entitled to, because the employer notifies the insurance company of the death.
However, I took the OP's post at face value -- he used the word "employee" twice. I did not believe he was using that word in place of "employer", which is why I commented that the original post made no sense. Had he used the word "employer" my comment would have been very different.
Posted: Mon Jun 11, 2012 03:56 pm Post Subject:
This makes no sense. Employees cannot force employers to provide group insurance benefits. Troublesome employees can always be fired by employers.
Posted: Mon Jun 11, 2012 03:56 pm Post Subject:
This makes no sense. Employees cannot force employers to provide group insurance benefits. Troublesome employees can always be fired by employers.
Posted: Tue Jun 12, 2012 09:57 am Post Subject:
Max is right. If your employer is paying for the coverage, then take it, but they can't force you accept group coverage. If you do take the group coverage, keep in mind, you can't keep that sort of coverage if you switch jobs or are laid off.
Posted: Tue Jun 12, 2012 08:35 pm Post Subject:
An employer CAN require that an employee be included within a group life or health plan... it's dependent upon who is paying the premium.
If the group plan is considered what's called a "noncontributory" plan, this is a plan in which the employer pays 100% of the premium on behalf of an employee. This is not considered a taxable event to the employee for group health, and in group life, is only potentially taxable. The IRS, under what are known as "imputed income" rules, states that an employer who pays for MORE than $50,000 of group life is required to consider the premium paid for insurance amounts over $50,000 as taxable income to the employee.
So, if the plan is noncontributory, insurers normally require 100% of the eligible employees to be enrolled within the plan. Since the employee is not paying the premium for the coverage and the insurer requires "100% participation," coverage can be considered mandatory.
For amounts of coverage over $50,000, these "extra" amounts are generally voluntary on the part of the employee.
InsTeacher 8)
Posted: Wed Jun 13, 2012 04:27 am Post Subject:
My employee is
andCan my employee force me
InsTeacher is quite correct when the EMPLOYER is providing the insurance, although an employee is not forced to actually use the insurance benefit the employer provides at his own expense. Most group life insurance IS noncontributory and beneficiaries often receive checks they never knew they were entitled to, because the employer notifies the insurance company of the death.
However, I took the OP's post at face value -- he used the word "employee" twice. I did not believe he was using that word in place of "employer", which is why I commented that the original post made no sense. Had he used the word "employer" my comment would have been very different.
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