MULTI-LIFE HEALTH & DENTAL PLANS (3 or more employees / one business)
When Group Insurance Just Won’t Work...
Small businesses with small number of employees have problems in obtaining traditional group insurance plans for health and dental coverage. They have ‘high family content’ (ie. most of the employees are related to each other) or they have contract workers working for them that group companys do not consider as eligible for benefits. And traditional group plans suffere annual increases in premiums due directly to the amount of claims in thier own small group.
Alternative: Multi-Life Plans
- Base plan of health only or health and dental required for all employees
- All must be on the same type of plan (Base, Deluxe or Platinum)
- Each employee may choose his/her own additional benefits without requiring other employees to pay for them as well.
- Employees pay for their share of the premiums through payroll deduction
- Employer pays for premium with single PAD deduction for whole group
- Employer is expected to pay for 50% of health and dental benefit plan
- No family content restrictionsd
- No ‘minimum hours worked’ requirement
- No ‘minimum length of time in business’ restrictions
- Health & Dental plan stays in force up to age 75
Plan cost will NOT increase due to high claims useage in your plan from your employees. Health and dental rates are nationally ‘pooled’ so that you are protested frompremium increases due to your own employee’s claims. Rates and details are the same as for the personal plan (see below).
Other optional benefits are level premiums to age 70
- Disability (LTD) – injury only (illness optional with underwriting)
- Critical Illness
- Fracture Accident benefits
- Final Expense (guaranteed life insurance)
- AD&D – with Loss of Use (‘partial paralysis’)