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.
North Carolina Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees A North Carolina corporate resolution establishing a self-insured medical payment plan for key employees is a legally binding document that outlines the establishment and operation of a self-insured medical payment plan for a company's key employees. This resolution is designed to provide comprehensive healthcare coverage for key employees, and it allows the company to assume the financial risk of providing medical benefits rather than relying on insurance companies. Keywords: North Carolina, corporate resolution, self-insured, medical payment plan, key employees, healthcare coverage, financial risk, insurance companies Types of North Carolina Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees: 1. Comprehensive Healthcare Coverage: This type of resolution establishes a self-insured medical payment plan that provides extensive healthcare coverage for key employees. It includes coverage for routine check-ups, preventive care, prescription medications, hospitalization, surgeries, and other medical expenses. It is designed to ensure that key employees have access to top-quality healthcare services without relying on traditional insurance plans. 2. Specific Medical Services Coverage: This type of resolution focuses on providing coverage for specific medical services that are crucial for key employees. It may include coverage for specialized treatments, therapies, or procedures that are necessary for the well-being of key employees. This resolution enables the company to customize the medical payment plan according to the unique healthcare needs of its key employees. 3. Executive Health Program: Some companies opt for a specialized North Carolina corporate resolution that establishes an executive health program for key employees. This program goes beyond standard medical coverage by offering additional perks like personalized health assessments, comprehensive preventive screenings, access to top-tier medical specialists, and wellness programs catered to the specific needs of executives. 4. Family Coverage Extension: This type of resolution allows the self-insured medical payment plan to extend coverage to the immediate family members of key employees. It ensures that spouses, children, and dependents of key employees receive the same level of healthcare benefits as the employees themselves. This extension promotes the well-being of the entire key employee household. 5. Voluntary Participation Option: Some companies establish a resolution that provides key employees with the option to voluntarily participate in the self-insured medical payment plan. This resolution acts as an incentive for key employees, allowing them to choose whether they wish to enroll in the plan. It enhances employee satisfaction and loyalty by offering a flexible healthcare solution tailored to their individual needs. In conclusion, a North Carolina corporate resolution establishing a self-insured medical payment plan for key employees is a crucial document that highlights the company's commitment to providing comprehensive healthcare coverage. It enables the company to bear the financial risk associated with medical benefits and ensures that key employees receive high-quality healthcare. The resolution can be tailored to various types of medical coverage, such as comprehensive healthcare, specific medical services, executive health programs, family coverage extensions, or voluntary participation options.North Carolina Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees A North Carolina corporate resolution establishing a self-insured medical payment plan for key employees is a legally binding document that outlines the establishment and operation of a self-insured medical payment plan for a company's key employees. This resolution is designed to provide comprehensive healthcare coverage for key employees, and it allows the company to assume the financial risk of providing medical benefits rather than relying on insurance companies. Keywords: North Carolina, corporate resolution, self-insured, medical payment plan, key employees, healthcare coverage, financial risk, insurance companies Types of North Carolina Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees: 1. Comprehensive Healthcare Coverage: This type of resolution establishes a self-insured medical payment plan that provides extensive healthcare coverage for key employees. It includes coverage for routine check-ups, preventive care, prescription medications, hospitalization, surgeries, and other medical expenses. It is designed to ensure that key employees have access to top-quality healthcare services without relying on traditional insurance plans. 2. Specific Medical Services Coverage: This type of resolution focuses on providing coverage for specific medical services that are crucial for key employees. It may include coverage for specialized treatments, therapies, or procedures that are necessary for the well-being of key employees. This resolution enables the company to customize the medical payment plan according to the unique healthcare needs of its key employees. 3. Executive Health Program: Some companies opt for a specialized North Carolina corporate resolution that establishes an executive health program for key employees. This program goes beyond standard medical coverage by offering additional perks like personalized health assessments, comprehensive preventive screenings, access to top-tier medical specialists, and wellness programs catered to the specific needs of executives. 4. Family Coverage Extension: This type of resolution allows the self-insured medical payment plan to extend coverage to the immediate family members of key employees. It ensures that spouses, children, and dependents of key employees receive the same level of healthcare benefits as the employees themselves. This extension promotes the well-being of the entire key employee household. 5. Voluntary Participation Option: Some companies establish a resolution that provides key employees with the option to voluntarily participate in the self-insured medical payment plan. This resolution acts as an incentive for key employees, allowing them to choose whether they wish to enroll in the plan. It enhances employee satisfaction and loyalty by offering a flexible healthcare solution tailored to their individual needs. In conclusion, a North Carolina corporate resolution establishing a self-insured medical payment plan for key employees is a crucial document that highlights the company's commitment to providing comprehensive healthcare coverage. It enables the company to bear the financial risk associated with medical benefits and ensures that key employees receive high-quality healthcare. The resolution can be tailored to various types of medical coverage, such as comprehensive healthcare, specific medical services, executive health programs, family coverage extensions, or voluntary participation options.
