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No, when Cobra goes into effect, the (former) employee pays the entire portion of the premium. Although possibly very expensive, the coverage is guaranteed and possibly at better rates than going out to buy individual coverage since it is a group plan.
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Can an employer suspend health coverage if the employee pays part of premium?
No, an employer cannot suspend health coverage if the employee pays part of premium. as per Law.In case where the employer pays the entire premium, he can suspend health coverage on one pretext or other.But when the premium is equally shared by both the employer and employee, it would be a contractual violation and the employee can sue against his employer for remedy.
What terms is the amount you or your employer pays in exchange for insurance coverage?
It is called a premium.
What is the amount you or your employer pays in exchange for insurance coverage called?
The term is "premium".
Which term refers to the amount you or your employer pays in exchange for insurance coverage?
Premium a+
What term refers to the amount you or your employer pays in exchange for insurance coverage?
The premium is the dollar amount paid in exchange for insurance coverage.
If my employer pays the premium for an insurance policy for me is it taxable?
Yes, the benefits are taxable.
Are you required to pay for health insurance while on short term disability?
That depends upon whether you are covered under FMLA, and the percentage of premium paid by your employer. If you are covered under FMLA, then your employer is required to continue coverage on the same basis as before your leave. For example if your employer was paying half the premium and you were paying half the premium, this arrangement would continue while you are on leave. You would be responsible for continuing these payments. If your employer pays 100% of the premium you would have no payments to make. If you are not covered under FMLA your employer is free to ask you to pay 100% of the premium.
What is compentancy?
Worker's compensation is insurance coverage for employees to compensate them in case they are injured while performing their job. The employer pays a premium that covers medical expenses and lost wages in case their employees are injured. If these benefits are excepted the hurt employee must release the employer of further liability. The insurance company pays the claim and the employee can no longer sue the employer for the injury.
Is your health insurance covered if changing jobs?
I'm not sure what you mean by "covered". However, if the company you are leaving has at least 20 full time employees, you can pay to keep your coverage under COBRA until your new employer's coverage kicks in. However, COBRA rates are quite high as they are the rates your employer pays. Most states have a state continuation right if your company has less than 20 employees. See the Department of Labor website (dol.gov) for more information on state continuation/COBRA and your rights to continue coverage after you leave your job.
If an employer pays the premium on medical insurance and forces an employee to take that coverage is there anything the employee can do if they are covered under another plan?
Contact your human resource or personnel department people. If you have to self-pay for your health insurance coverage at your workplace you may be able to select not paying for it and decline the coverage. It depends on the insurance laws in your state and what is the policy at your workplace. If your employer pays for the insurance for you and you don't have to pay anything then why turn it down? Medical care is very expensive. And if you lose your job you may be able to continue that coverage until you have coverage from a new job.
How much does employer pay for group disability?
The amount your employer pays for the cost of your group Disability insurance is uncertain. Some companies will pay for the full premium, others pay for 50% and some will not pay any of the premium but offer coverage on a voluntary basis instead. You should also know that if your employer pays for your group Disability benefits, the benefits will be paid on a taxable basis. Hence the 60% benefit you expect to receive will be taxed and reduced to more like 45% income replacement. For this reason, many employees in this situation, such as Federal employees, will purchase supplemental coverage on the individual market. In order to find out what percentage of the cost your employer pays, you must ask or review your benefits program brochure, if you are provided one.
How does it work to choose between insurance offered at new job and your spouses employment?
You would have to sign a waiver on your insurance stating that you have prior coverage. Your application that your employer gives you should have that on it. The above answer assumes that you have the right to opt out. Here in CA if your employer pays 100% of the premium you can not opt out even if you are eligible for other group coverage. Often the employer will tell you that they pay 100% (and they actually do) but the plan documents will say that they only pay 99%. This would then allow you to decline coverage.
