0
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?
Wiki User
∙ 8y ago
No. Keep in mind that insurance coverage is very expensive and the employer, as a rule bears the largest amount.
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.
Are you required to pay for health insurance while on short term disability?
That depends upon whether you are covered under FMLA, and the percentage of premium paid by your employer. If you are covered under FMLA, then your employer is required to continue coverage on the same basis as before your leave. For example if your employer was paying half the premium and you were paying half the premium, this arrangement would continue while you are on leave. You would be responsible for continuing these payments. If your employer pays 100% of the premium you would have no payments to make. If you are not covered under FMLA your employer is free to ask you to pay 100% of the premium.
What is compentancy?
Worker's compensation is insurance coverage for employees to compensate them in case they are injured while performing their job. The employer pays a premium that covers medical expenses and lost wages in case their employees are injured. If these benefits are excepted the hurt employee must release the employer of further liability. The insurance company pays the claim and the employee can no longer sue the employer for the injury.
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.
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.
Does a insurance disability issue a w2?
The insurance carrier will issue a 1099 with your disability income if it is subject to taxation. The benefit is taxed if you paid the premium pre-tax, or if your employer funded a portion of the 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.
