Employee Benefits
- Introduction to Employee Benefits
- Employee Benefits Mandated by Law
- Introduction to Group Health Insurance
- Costs vs. Benefits of Healthcare
- Types of Healthcare Coverage Plans
- Health Savings Accounts (HSA)
- Health Reimbursement Accounts (HRA)
- Introduction to Group Life Insurance
- Different Types of Group Life Insurance
- Additional Features of Group Life Insurance
- Cost of Group Term Life Insurance
- Structuring Group Term Life Insurance Policies
- Who Will be Covered by Group Term Life Insurance?
- Introduction to Retirement Plans
- Setting Up and Administering a Retirement Plan
- Advantages of Retirement Plans
- Retirement Plan Questions to Ask
- Introduction to Workers' Compensation
- Types of Workers' Compensation Plans
- Introduction to Disability Insurance
- Types of Disability Insurance
- Introduction to Voluntary Benefits
- What is a Cafeteria Plan?
- What is a Flexible Spending Account?
- Communicating Benefits to Employees
Types of Healthcare Coverage Plans
- Preferred Provider Organization (PPO). This type of plan requires that employees see providers who are members of the plan network in order to receive the maximum benefit. Usually, this type of plan requires a copayment at the time of service. Employees also have the option to visit out-of-network providers, but assume responsibility to pay the additional costs associated.
- Health Maintenance Organization (HMO). This type of plan requires that employees use a Primary Care Physician for referrals to specialists. Usually there is a copayment required at the time of service, and employees will not be covered for services from providers outside the network.
- Indemnity plan. These plans typically cover accidents, illnesses, and hospitalizations, but may not cover preventive care. They usually require meeting an annual deductible. After claims forms are submitted, the plan will reimburse a predetermined portion of the bill (often an 80/20 split, with the employee paying 20 percent of the cost, and the plan paying 80 percent). Under an indemnity plan, members can see any provider they choose, providing the greatest degree of freedom and choice.
- Point of Service Plan (POS). Similar to HMOs and PPOs, these plans require members to have a "gatekeeper," in the form of a primary care physician, who manages all care. Where care is received affects the employee's out-of-pocket costs, and employees must use specific providers who are members of the network to pay the lower copayment amounts. Members may also go to out-of-network providers at a higher out-of-pocket costs.
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