0
Can you waive the group health insurance offered by your employer and receive more pay because they do not have to pay a premium for you?
Wiki User
∙ 8y ago
Traditionally, medical benefits are offered on a "take it or leave it" basis, meaning that you have the option to waive the insurance - but will not receive increased pay because of it.
Increasing your salary because you waived benefits is a newer, more progressive concept that some businesses (typically, smaller businesses) are leaning toward.
Ask your employer about their policy on this. ?
No. For a detailed explanation on an ATtorney's site visit sgilaw.com
for more information visit www.steveshorr.com
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
What terms is the amount you or your employer pays in exchange for insurance coverage?
It is called a premium.
Why is a portion of my life insurance premium declared as taxable income?
This is normally because your employer is paying for a part of the premium, meaning you don't have to, which means that it is income.
Which company offers the cheapest life cover?
Life insurance costs vary based on the age, general health, and location of the insured. In general, life insurance premiums are cheaper when purchased as a young adult and maintained throughout your life than purchasing a new policy later in life. One of the most economical types of policies is term insurance. Taking advantage of an employer-offered life insurance plan, even if you pay a monthly premium, is also an inexpensive choice because the employer often absorbs a portion of the premium.
Terminated health coverage because employer did not pay the bill. Is his legal?
Insurance companies have the legal right to terminate insurance coverage when the monthly premium is not paid as agreed.
What is the amount you or your employer pays in exchange for insurance coverage called?
The term is "premium".
If my employer pays the premium for an insurance policy for me is it taxable?
Yes, the benefits are taxable.
Which term refers to the amount you or your employer pays in exchange for insurance coverage?
Premium a+
Can Michigan employer drop your medical insurance while on short term disability?
Yes, unless you pay/reimburse the employer for the insurance premium out of your own pocket.
What is the meaning of keymaninsurance?
Keyman insurance can be defined as an insurance policy where the proposer as well as the premium payer is the employer, the life to be insured is that of the employee and the benefit, in case of a claim, goes to the employer.
If your employer offers health insurance and you opt not to have it are they required to compensate you for the cost of a premium?
No. Keep in mind that insurance coverage is very expensive and the employer, as a rule bears the largest amount.
What term refers to the amount you or your employer pays in exchange for insurance coverage?
The premium is the dollar amount paid in exchange for insurance coverage.
What is the term for the amount you and your employer pay in exchange for insurance coverage?
The amount that is paid for any kind of insurance is called "premiums". The same term applies whether an employee or employer pay for the insurance.
