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Have an employee that wants to take the pay instead of provided insurance. Any ideas?
Our company privides Health insurance, paid in full by company, but Ihave one employee that wants to take hourly pay instead of the insurance. Are there any guide lines for this?
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This is not recommended especially if there is no other insurance involved. This is only used by some companies if there is double insurance coverage. I would not recommend it as if you do it for one you must do it for all. Paying employees to not have insurance coverage is a bad idea. It probably will not be long until insurance coverage is mandatory and you do not want to be paying it out twice. Shirley |
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Actually, I would allow it only if that person is covered by a spouse and can prove it which was effectively how it worked for me. What finally happened in the place I worked is that benefits became "flexible". Life insurance used to be $50K and then could be raised to 2x your salary. There were various health plans to choose from. You were then given a set amount of "health care dollars" that were used to select benefits based on costs. The amount of "health care dollars" were based on the original benefits offered such as say HMO for the employee, dental, drugs and $50K life insurance. If there is a PPO or your spouse had coverage then you could pay more or less, BUT medical coverage WAS required from somewhere. |
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