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.
A Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a legal document that outlines the establishment and specifics of a self-insured medical payment plan at a corporate level in the state of Michigan. This resolution is a formal decision made by the corporation's board of directors or governing body, which demonstrates their commitment to provide medical coverage for key employees through a self-funded approach. The self-insured medical payment plan is designed to provide comprehensive healthcare benefits for key employees, typically executives or other high-level personnel within the organization. By self-insuring, the company assumes the financial risk for providing medical coverage instead of relying on traditional insurance carriers. This approach can offer greater flexibility and cost control, allowing the corporation to tailor the plan to meet the specific needs of key employees. Various types of Michigan Corporate Resolutions Establishing a Self-insured Medical Payment Plan for Key Employees may exist, depending on the particularities of each corporation. Some common variations may include: 1. Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Executive Employees: This specific resolution focuses on providing a self-insured medical payment plan exclusively for executives within the company. It may include higher coverage limits and additional perks to attract top-level talent. 2. Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Sales Employees: This resolution caters to employees whose roles primarily involve sales activities. The plan may include incentives related to achieving sales targets, such as performance-based bonuses or higher coverage for treatments related to work-related injuries. 3. Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Technical Employees: This type of resolution focuses on key employees with specialized technical skills that are critical for the company's operations. The plan may emphasize coverage for treatments related to occupational hazards or conditions specific to the technical field. 4. Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key International Employees: This resolution addresses the healthcare needs of key employees who may be based outside the United States or frequently travel internationally for business purposes. The plan may include provisions for medical evacuation, travel insurance, and coverage for treatments abroad. 5. Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees in High-Risk Industries: This type of resolution caters specifically to companies operating in high-risk industries such as construction, mining, or manufacturing. The plan may include higher coverage limits, specialized medical services, and comprehensive accident and disability coverage due to unique occupational hazards. In conclusion, a Michigan Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a vital document that outlines the commitment of a corporation to provide self-funded medical coverage for its key personnel. The document may vary in terms of employee groups targeted, coverage specifics, and industry-specific considerations.
