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 Salt Lake City, Utah corporate resolution establishing a self-insured medical payment plan for key employees is a legal document outlining the implementation of a healthcare coverage program for selected employees within a corporation based in Salt Lake City, Utah. This self-insured plan allows the corporation to assume the financial risk of providing medical benefits to its key employees instead of relying on traditional insurance providers. In this resolution, the corporation decides to create a healthcare plan tailored specifically for its key employees, who may be high-ranking executives or individuals critical to the company's operations. By opting for self-insurance, the corporation aims to have more control over the healthcare benefits offered, potentially reducing costs, and customizing coverage based on the specific needs of these key personnel. Keywords: Salt Lake City, Utah, corporate resolution, self-insured, medical payment plan, key employees, healthcare coverage, financial risk, traditional insurance providers, tailored, high-ranking executives, operations, control, costs, customizing coverage, specific needs, personnel. Different types of Salt Lake City, Utah corporate resolutions establishing a self-insured medical payment plan for key employees may include variations in coverage levels, deductibles, or services provided. Some possible variations could be: 1. Salt Lake City, Utah Corporate Resolution Establishing a Basic Self-insured Medical Payment Plan for Key Employees: This plan might offer essential medical services and coverage with modest deductibles. 2. Salt Lake City, Utah Corporate Resolution Establishing an Enhanced Self-insured Medical Payment Plan for Key Employees: This plan could include additional benefits such as dental, vision, or mental health coverage, along with higher coverage limits. 3. Salt Lake City, Utah Corporate Resolution Establishing a Comprehensive Self-insured Medical Payment Plan for Key Employees: This type of plan might offer a comprehensive range of medical services, including preventive care, specialized treatments, and a wider network of medical providers. 4. Salt Lake City, Utah Corporate Resolution Establishing a Flexible Self-insured Medical Payment Plan for Key Employees: This plan could allow employees to choose from various coverage options, such as different provider networks or the ability to add dependents to the plan. It's important to note that the specific variations in self-insured medical payment plans for key employees would depend on the corporation's objectives, budget, and the healthcare needs of the key personnel involved.A Salt Lake City, Utah corporate resolution establishing a self-insured medical payment plan for key employees is a legal document outlining the implementation of a healthcare coverage program for selected employees within a corporation based in Salt Lake City, Utah. This self-insured plan allows the corporation to assume the financial risk of providing medical benefits to its key employees instead of relying on traditional insurance providers. In this resolution, the corporation decides to create a healthcare plan tailored specifically for its key employees, who may be high-ranking executives or individuals critical to the company's operations. By opting for self-insurance, the corporation aims to have more control over the healthcare benefits offered, potentially reducing costs, and customizing coverage based on the specific needs of these key personnel. Keywords: Salt Lake City, Utah, corporate resolution, self-insured, medical payment plan, key employees, healthcare coverage, financial risk, traditional insurance providers, tailored, high-ranking executives, operations, control, costs, customizing coverage, specific needs, personnel. Different types of Salt Lake City, Utah corporate resolutions establishing a self-insured medical payment plan for key employees may include variations in coverage levels, deductibles, or services provided. Some possible variations could be: 1. Salt Lake City, Utah Corporate Resolution Establishing a Basic Self-insured Medical Payment Plan for Key Employees: This plan might offer essential medical services and coverage with modest deductibles. 2. Salt Lake City, Utah Corporate Resolution Establishing an Enhanced Self-insured Medical Payment Plan for Key Employees: This plan could include additional benefits such as dental, vision, or mental health coverage, along with higher coverage limits. 3. Salt Lake City, Utah Corporate Resolution Establishing a Comprehensive Self-insured Medical Payment Plan for Key Employees: This type of plan might offer a comprehensive range of medical services, including preventive care, specialized treatments, and a wider network of medical providers. 4. Salt Lake City, Utah Corporate Resolution Establishing a Flexible Self-insured Medical Payment Plan for Key Employees: This plan could allow employees to choose from various coverage options, such as different provider networks or the ability to add dependents to the plan. It's important to note that the specific variations in self-insured medical payment plans for key employees would depend on the corporation's objectives, budget, and the healthcare needs of the key personnel involved.
