small and medium enterprises nonprofit unique face challenges with hiring and retention of employees. With limited resources, management teams must be strategic about how to allocate salaries and benefits dollars.
To take control of the health benefits of the organization's budget, and to show appreciation to loyal, hardworking employees, many nonprofit organizations are switching group insurance to individual insurance reimbursement health . What? Why? How
This article answers common questions about the ten individual health insurance reimbursement of way work for nonprofit organizations and employees
Note -. This item is our new eBook, The Nonprofit Guide for individual health insurance reimbursement. To download the full resource, click here
Q1.? What Health Individual Insurance Reimbursement
Instead of offering employer provided health insurance, the nonprofit reimburse employees for insurance premiums -maladie
Q2.? How does it work for the Organization
With individual reimbursement of health insurance:
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profit Sets non-monthly health care benefits.
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Employees buy their own health plan and submit claims.
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applications are processed (usually by a third party) and nonprofit reimburse employees via payroll check or direct deposit.
Q3: Is health insurance individual admitted Refund
Yes. Using a repayment plan for the self-insured medical expenses, non-profit organizations may reimburse employees for health insurance premiums for a specified monthly health care allowance and preventive services basic health.
Q4: What is the right time to change
Many nonprofits make the transition from health insurance employers the traditional individual health insurance during times of annual renewal, although there is no requirement to wait. For example, most employers health insurance policies can be canceled at any time
Related :. How to cancel the group health insurance (and make employees happy)
Q5. How does it work for employees?
With this type of employee health benefits, each employee selects and buys individual health policy that best meets the needs of their families, choosing a plan, a carrier . Employees submit a claim for their premium costs, and are reimbursed up to the amount available in their balance. They can keep their same network and doctors, and to choose a level of coverage that fits their health needs. individual health plans cost 20 to 60 percent less than the health insurance plans of traditional employers and premium tax credits may be available to eligible employees.
Q6. What is the Individual Health Insurance
individual health insurance is a type of policy that buys employee for himself and / or his family - ?, Like car insurance. Employees have the policy and can take with them if they leave the organization. Employees pay for their policy with their own money, and can be reimbursed for the premium (or part of the premium).
Q7. Is there a minimum or maximum number of employees to take part?
No. Non-profit organizations of all sizes can adopt individual repayment of health insurance. In addition, there is no minimum requirement for participation required, and non-profit which determines the eligibility requirements when they set up the plan.
Q8. the nonprofit can give you different benefits to different employees?
employees in various classes of employees may receive different benefits. Allocations may also vary according to marital status. All employees of the same class should be treated equally.
What do we mean? Employee classes are defined by the employer and must be based on the classification of real jobs. The criteria that can be used to define a class include the description of employment, full-time or part-time status, active against pensioner status, geographical location and membership of a collective agreement (eg union ). Employers can also give different benefits to employees depending on the choice of the plan (eg, reimbursement may be available for those who choose a group plan) employees.
Q9. How to explain the new benefit to employees?
As your transitions nonprofit person reimbursement of health insurance, it is important to educate employees on individual works and how its benefits to employees health insurance and their families.
Educating employees on
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How to buy an individual health insurance plan.
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Why the association has decided to offer health benefits in this way. (Remember, it's great for them too!)
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The benefits of individual health insurance such as choosing the plan, portability, and savings.
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How to claim back their premium costs.
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Who to contact if they have questions.
Q10 - How can we calculate the savings of transit costs for individual health insurance Money
to calculate potential savings, start with a simple financial analysis. Compare the cost of your current employer health insurance with individual health insurance rates similar in your area. Your health insurance advisor can help, like a Simple cost analysis online .
Conclusion
As nonprofits move anyone reimbursement of health insurance, it is common for leadership, Board of Directors and employees to have questions about what it is and how it works. What additional questions do you have for your organization? Download this PDF guide or leave a question below.
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