Discrimination favoring management or highly paid employees is not permitted for deductible health and accident insurance plans. For self-insured medical reimbursement plans (i.e., direct payment or reimbursement by the employer of the medical bills of the employee or family), no discrimination, either in eligibility or benefits, is permitted if "highly compensated individuals" are to receive all plan benefits tax-free. The plan must benefit, in general, at least 70% of employees who are not highly compensated employees. However, there are exceptions. A "highly compensated employee" is one who has a significant ownership interest in the company, or who is one of the five highest paid officers or employees. An alternative designation is an income threshold, currently $80,000. If a self-insured plan is discriminatory, an employee who is considered a highly compensated employee must include the amount of discriminatory benefits received in gross income.
Franklin Ohio Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a legal document adopted by corporations based in Franklin, Ohio. This resolution outlines the company's decision to implement a self-insured medical payment plan specifically tailored for key employees. A self-insured medical payment plan refers to a healthcare benefit program where the company assumes the financial responsibility for medical claims incurred by its employees. Instead of purchasing traditional health insurance coverage from external providers, the corporation creates its own fund to cover the medical expenses of key employees. This type of resolution is significant as it allows corporations to customize healthcare benefit plans according to the specific needs of their key employees. By self-insuring, companies can potentially achieve cost savings, gain greater control over healthcare expenses, and design plans that align with the unique healthcare requirements of the organization's essential staff members. In Franklin, Ohio, there may be different variations or types of Corporate Resolutions Establishing Self-insured Medical Payment Plans for Key Employees, depending on the specifics of each company. These may include: 1. Key Employee Coverage Resolution: This type of resolution focuses on providing self-insured medical payment plans exclusively for key employees within the organization. It aims to attract and retain valuable executives, top-performing managers, or other essential personnel by offering comprehensive healthcare coverage tailored to their needs. 2. Executive Medical Payment Plan Resolution: This resolution specifically addresses the medical payment plans designed for executives or high-ranking individuals within the company. It ensures that these key individuals receive specialized healthcare benefits that adequately align with their seniority level and responsibilities. 3. Voluntary Participation Resolution: This type of resolution outlines the option for key employees to voluntarily participate in the self-insured medical payment plan established by the company. By offering this choice, the corporation recognizes the diverse needs and circumstances of its key employees, allowing them to opt-in based on their personal healthcare preferences. 4. Family Coverage Resolution: This resolution expands the self-insured medical payment plan to include dependents of key employees, such as spouses and children. It acknowledges the importance of family-oriented healthcare benefits and offers comprehensive coverage to ensure the well-being of the key employee's entire household. Overall, a Franklin Ohio Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a critical legal document that allows companies in Franklin, Ohio to take control of their healthcare benefit offerings for key staff members. By adopting this resolution, businesses can create tailored plans suited to the unique requirements, preferences, and responsibilities of their key employees while potentially achieving cost efficiencies and flexibility in healthcare arrangements.Franklin Ohio Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a legal document adopted by corporations based in Franklin, Ohio. This resolution outlines the company's decision to implement a self-insured medical payment plan specifically tailored for key employees. A self-insured medical payment plan refers to a healthcare benefit program where the company assumes the financial responsibility for medical claims incurred by its employees. Instead of purchasing traditional health insurance coverage from external providers, the corporation creates its own fund to cover the medical expenses of key employees. This type of resolution is significant as it allows corporations to customize healthcare benefit plans according to the specific needs of their key employees. By self-insuring, companies can potentially achieve cost savings, gain greater control over healthcare expenses, and design plans that align with the unique healthcare requirements of the organization's essential staff members. In Franklin, Ohio, there may be different variations or types of Corporate Resolutions Establishing Self-insured Medical Payment Plans for Key Employees, depending on the specifics of each company. These may include: 1. Key Employee Coverage Resolution: This type of resolution focuses on providing self-insured medical payment plans exclusively for key employees within the organization. It aims to attract and retain valuable executives, top-performing managers, or other essential personnel by offering comprehensive healthcare coverage tailored to their needs. 2. Executive Medical Payment Plan Resolution: This resolution specifically addresses the medical payment plans designed for executives or high-ranking individuals within the company. It ensures that these key individuals receive specialized healthcare benefits that adequately align with their seniority level and responsibilities. 3. Voluntary Participation Resolution: This type of resolution outlines the option for key employees to voluntarily participate in the self-insured medical payment plan established by the company. By offering this choice, the corporation recognizes the diverse needs and circumstances of its key employees, allowing them to opt-in based on their personal healthcare preferences. 4. Family Coverage Resolution: This resolution expands the self-insured medical payment plan to include dependents of key employees, such as spouses and children. It acknowledges the importance of family-oriented healthcare benefits and offers comprehensive coverage to ensure the well-being of the key employee's entire household. Overall, a Franklin Ohio Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a critical legal document that allows companies in Franklin, Ohio to take control of their healthcare benefit offerings for key staff members. By adopting this resolution, businesses can create tailored plans suited to the unique requirements, preferences, and responsibilities of their key employees while potentially achieving cost efficiencies and flexibility in healthcare arrangements.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
