Plan Administration in Group Insurance Programs
Further to our recent News Bulletin which can be found here, you and your Plan Administrators are invited to our training seminar on Plan Administration in Group Insurance Programs.
One of the most important aspects of your Group Insurance Program is the administration of the plan. Day to day functions of your Plan Administrator include adding new employees and/or eligible family members to the plan, reporting salary increases to the insurance company, removing terminated employees from the plan, as well as many other important actions and processes. A simple mistake made by a Plan Administrator can result in a substantial liability to the Company.
Some of the risks and liability concerns are included below:
- Late applicants who do not join the plan within 31-days of being eligible are subject to medical underwriting. They will have limited dental benefits and could be declined coverage altogether.
- Failing to report salary increases can result in an employee or beneficiary receiving less Life Insurance or Long-Term Disability benefits than expected.
- A new Employee refuses to join the plan based on the cost of payroll deductions but then later becomes sick.
All of these scenarios could result in a lawsuit indemnifying the company for not explaining and educating employees on the benefits program. Our goal for this seminar is to mitigate these risks.
Please join us for an interactive seminar on Plan Administration in Group Insurance Programs. Attendees will learn important aspects of administration, do’s and don’ts and how to mitigate risks.
Presenter: Allan Sabat
Location: Zoom Webinar ( Video is not required)
When: July 28th, 2021 – We will be recording the event for those who cannot attend . Time: 2-3pm EST /12-1pm MST
What to bring: A notepad and questions. A note pad and questions. As the session is interactive, we will be answering questions throughout but if you have a specific question, feel free to send it before and we will be sure to address it during the session.
Who should attend? Plan Administrators, Business Owners who administer plans, anyone trying to get a better understanding of Group Insurance Programs.
Sincerely, Allan Sabat.