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.
Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a legal document that outlines the decision of a corporate entity based in Montgomery, Maryland to implement a self-insured medical payment plan specifically designed for key employees. This resolution demonstrates the company's commitment to provide comprehensive healthcare coverage to key personnel while exercising greater control over the costs associated with employee healthcare benefits. Keywords: Montgomery Maryland, corporate resolution, self-insured, medical payment plan, key employees, comprehensive healthcare coverage, employee healthcare benefits, legal document, cost control. Different types of Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees may include: 1. Basic Self-insured Medical Payment Plan: This type of resolution outlines the fundamental framework for implementing a self-insured medical payment plan tailored to key employees. It highlights the company's intention to provide essential healthcare coverage to key personnel and lays down the basic guidelines for the plan. 2. Enhanced Self-insured Medical Payment Plan: This resolution showcases a more comprehensive approach to healthcare benefits for key employees. It includes additional services or features compared to the basic plan, such as expanded coverage options, preventive care programs, or wellness initiatives. This plan aims to prioritize the well-being of the key employees while ensuring cost-effectiveness for the corporation. 3. Tiered Self-insured Medical Payment Plan: This type of resolution establishes a self-insured medical payment plan with varying levels of coverage and benefits based on the employees' seniority or importance within the organization. The tiered approach ensures that key employees receive a higher level of healthcare coverage while promoting a fair distribution of resources within the organization. 4. Specialty-focused Self-insured Medical Payment Plan: This resolution caters specifically to key employees working in specialized fields or industries. It outlines a self-insured medical payment plan that includes specialized coverage for occupational hazards or risks associated with their line of work. This type of plan ensures that the unique needs of key employees in certain high-risk professions are adequately addressed. 5. Hybrid Self-insured Medical Payment Plan: This resolution combines elements of both self-insurance and traditional insurance models. It allows key employees to access a wider network of healthcare providers outside the self-insured arrangement, while still maintaining cost control measures and benefiting from certain aspects of self-insurance. This hybrid approach provides flexibility for key employees while balancing the financial considerations of the corporation. Overall, the Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees demonstrates a proactive and strategic approach to managing healthcare costs while prioritizing the well-being of key employees. By tailoring the plan to the unique needs of the organization and its key personnel, the resolution highlights the commitment to provide comprehensive, cost-effective, and sustainable healthcare coverage.Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees is a legal document that outlines the decision of a corporate entity based in Montgomery, Maryland to implement a self-insured medical payment plan specifically designed for key employees. This resolution demonstrates the company's commitment to provide comprehensive healthcare coverage to key personnel while exercising greater control over the costs associated with employee healthcare benefits. Keywords: Montgomery Maryland, corporate resolution, self-insured, medical payment plan, key employees, comprehensive healthcare coverage, employee healthcare benefits, legal document, cost control. Different types of Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees may include: 1. Basic Self-insured Medical Payment Plan: This type of resolution outlines the fundamental framework for implementing a self-insured medical payment plan tailored to key employees. It highlights the company's intention to provide essential healthcare coverage to key personnel and lays down the basic guidelines for the plan. 2. Enhanced Self-insured Medical Payment Plan: This resolution showcases a more comprehensive approach to healthcare benefits for key employees. It includes additional services or features compared to the basic plan, such as expanded coverage options, preventive care programs, or wellness initiatives. This plan aims to prioritize the well-being of the key employees while ensuring cost-effectiveness for the corporation. 3. Tiered Self-insured Medical Payment Plan: This type of resolution establishes a self-insured medical payment plan with varying levels of coverage and benefits based on the employees' seniority or importance within the organization. The tiered approach ensures that key employees receive a higher level of healthcare coverage while promoting a fair distribution of resources within the organization. 4. Specialty-focused Self-insured Medical Payment Plan: This resolution caters specifically to key employees working in specialized fields or industries. It outlines a self-insured medical payment plan that includes specialized coverage for occupational hazards or risks associated with their line of work. This type of plan ensures that the unique needs of key employees in certain high-risk professions are adequately addressed. 5. Hybrid Self-insured Medical Payment Plan: This resolution combines elements of both self-insurance and traditional insurance models. It allows key employees to access a wider network of healthcare providers outside the self-insured arrangement, while still maintaining cost control measures and benefiting from certain aspects of self-insurance. This hybrid approach provides flexibility for key employees while balancing the financial considerations of the corporation. Overall, the Montgomery Maryland Corporate Resolution Establishing a Self-insured Medical Payment Plan for Key Employees demonstrates a proactive and strategic approach to managing healthcare costs while prioritizing the well-being of key employees. By tailoring the plan to the unique needs of the organization and its key personnel, the resolution highlights the commitment to provide comprehensive, cost-effective, and sustainable healthcare coverage.
