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.
King Washington is a premier corporate entity that values the health and well-being of its key employees. To ensure that all employees receive comprehensive medical coverage, King Washington has established a self-insured medical payment plan specifically designed for its key personnel. This resolution highlights the commitment of King Washington to provide exceptional healthcare benefits to its valuable employees. A self-insured medical payment plan allows King Washington to assume the financial risk of providing healthcare benefits directly to its employees, rather than relying on traditional insurance providers. This approach gives King Washington greater control over the design and administration of the plan, ensuring that it is tailored to meet the specific needs of its key employees. The King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees outlines the detailed parameters, policies, and procedures related to the plan. It covers various aspects such as eligibility criteria for key employees, the scope of coverage, claim management procedures, and cost-sharing arrangements. The self-insured medical payment plan provided by King Washington offers a range of benefits and services. These include comprehensive medical coverage, including hospitalization, surgical procedures, diagnostic tests, and prescription medications. Additionally, the plan may also include coverage for specialist consultation, mental health services, and preventive care measures to ensure the holistic well-being of the key employees. It is essential to note that there may be different types or variations of the King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees, depending on the specific needs and preferences of the organization. These variations may include options for different levels of coverage, flexible spending accounts, wellness programs, and additional benefits such as dental and vision coverage. Overall, the King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees exemplifies the organization's dedication to providing high-quality healthcare benefits to its key personnel. By implementing a self-insured approach, King Washington ensures that its employees receive comprehensive coverage while maintaining control and flexibility in healthcare management. Through this resolution, King Washington showcases its commitment to the well-being and satisfaction of its key employees, prioritizing their health and productivity within the corporate framework.King Washington is a premier corporate entity that values the health and well-being of its key employees. To ensure that all employees receive comprehensive medical coverage, King Washington has established a self-insured medical payment plan specifically designed for its key personnel. This resolution highlights the commitment of King Washington to provide exceptional healthcare benefits to its valuable employees. A self-insured medical payment plan allows King Washington to assume the financial risk of providing healthcare benefits directly to its employees, rather than relying on traditional insurance providers. This approach gives King Washington greater control over the design and administration of the plan, ensuring that it is tailored to meet the specific needs of its key employees. The King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees outlines the detailed parameters, policies, and procedures related to the plan. It covers various aspects such as eligibility criteria for key employees, the scope of coverage, claim management procedures, and cost-sharing arrangements. The self-insured medical payment plan provided by King Washington offers a range of benefits and services. These include comprehensive medical coverage, including hospitalization, surgical procedures, diagnostic tests, and prescription medications. Additionally, the plan may also include coverage for specialist consultation, mental health services, and preventive care measures to ensure the holistic well-being of the key employees. It is essential to note that there may be different types or variations of the King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees, depending on the specific needs and preferences of the organization. These variations may include options for different levels of coverage, flexible spending accounts, wellness programs, and additional benefits such as dental and vision coverage. Overall, the King Washington Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees exemplifies the organization's dedication to providing high-quality healthcare benefits to its key personnel. By implementing a self-insured approach, King Washington ensures that its employees receive comprehensive coverage while maintaining control and flexibility in healthcare management. Through this resolution, King Washington showcases its commitment to the well-being and satisfaction of its key employees, prioritizing their health and productivity within the corporate framework.
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.
