Comments on: Lighter side: Lunatic fringe benefits http://www.hrbenefitsalert.com/lighter-side-lunatic-fringe-benefits/ Daily dose of benefits news and know-how Tue, 04 Aug 2009 18:30:38 -0400 http://wordpress.org/?v=abc hourly 1 By: Judy Buckley http://www.hrbenefitsalert.com/lighter-side-lunatic-fringe-benefits/comment-page-1/#comment-1933 Judy Buckley Thu, 08 Jan 2009 20:22:20 +0000 http://www.hrbenefitsalert.com/?p=213#comment-1933 I work for a non-profit and our Board voted years ago against this pay in lieu of insurance premium. We do get asked about it occasionally. We are in California and have seen double-digit increases in our insurance premiums for at least 10 years running. We can sometimes lower costs increases to below 10% by tweaking the benefits a little or sometimes by changing carriers. But, that is getting more difficult to do. In comparison to Maire's plan, our HMO was $375.11 for 2008 and is increasing to $439.10 - that's with choosing an option with a higher co-pay for employees and having them share in the premium difference. (As the old joke goes, we take that non-profit thing seriously!) I wonder what it costs Maire's employees to get their own individual policy - I know here it is really expensive and the benefits usually less rich. I work for a non-profit and our Board voted years ago against this pay in lieu of insurance premium. We do get asked about it occasionally. We are in California and have seen double-digit increases in our insurance premiums for at least 10 years running. We can sometimes lower costs increases to below 10% by tweaking the benefits a little or sometimes by changing carriers. But, that is getting more difficult to do. In comparison to Maire’s plan, our HMO was $375.11 for 2008 and is increasing to $439.10 – that’s with choosing an option with a higher co-pay for employees and having them share in the premium difference. (As the old joke goes, we take that non-profit thing seriously!)
I wonder what it costs Maire’s employees to get their own individual policy – I know here it is really expensive and the benefits usually less rich.

]]> By: Maire J http://www.hrbenefitsalert.com/lighter-side-lunatic-fringe-benefits/comment-page-1/#comment-392 Maire J Wed, 20 Aug 2008 13:34:00 +0000 http://www.hrbenefitsalert.com/?p=213#comment-392 To Pam L. We have implemented the program and it has worked well. Using Monthly 2007 figures: Employee Coverage $306.00 - Employee premium of $61.20/mo = $244.80 Employer was paying. We offered $100.00 per 2 week pay period if they show documentation of active coverage under another plan. The $100.00 is taxed, and reflects as a separate line on their stub. We save $44.80/month in addition to the cost increases at review / renewal if those staff were on our census. For our 2008 renewal, the savings will be even greater Employer cost: $2600/year for Waivers versus $ 2,937.69 for covered employees. To Pam L.
We have implemented the program and it has worked well. Using Monthly 2007 figures: Employee Coverage $306.00 – Employee premium of $61.20/mo = $244.80 Employer was paying. We offered $100.00 per 2 week pay period if they show documentation of active coverage under another plan.

The $100.00 is taxed, and reflects as a separate line on their stub. We save $44.80/month in addition to the cost increases at review / renewal if those staff were on our census. For our 2008 renewal, the savings will be even greater

Employer cost: $2600/year for Waivers versus $ 2,937.69 for covered employees.

]]> By: Pam L http://www.hrbenefitsalert.com/lighter-side-lunatic-fringe-benefits/comment-page-1/#comment-347 Pam L Thu, 14 Aug 2008 19:08:11 +0000 http://www.hrbenefitsalert.com/?p=213#comment-347 Speaking of lunatic benefits, would you know if there are corporations who provide monetary benefits to employees who do not take their company's offered healthcare? For example, employees often opt for coverage thru their spouse's employer but lose the benefit of their own employer's compensation. First of all, is this really a 'loss' of benefits? The thought is if thusly compensated, they could use the cash toward their spouse's plan or receive the 'employee cost to the corporation' in their paychecks. Speaking of lunatic benefits, would you know if there are corporations who provide monetary benefits to employees who do not take their company’s offered healthcare? For example, employees often opt for coverage thru their spouse’s employer but lose the benefit of their own employer’s compensation. First of all, is this really a ‘loss’ of benefits? The thought is if thusly compensated, they could use the cash toward their spouse’s plan or receive the ‘employee cost to the corporation’ in their paychecks.

]]> By: HR in Washington http://www.hrbenefitsalert.com/lighter-side-lunatic-fringe-benefits/comment-page-1/#comment-345 HR in Washington Thu, 14 Aug 2008 18:39:39 +0000 http://www.hrbenefitsalert.com/?p=213#comment-345 We once had an employee who said he could not attend the Christmas party and ask if he could receive what we would have paid for him to eat and drink in cash. We said no, obviously. On the same note, another employee once requested that we pay him the difference between what we pay for a family medical plan and what we pay for a single since he was doing us a favor by not having a family. We once had an employee who said he could not attend the Christmas party and ask if he could receive what we would have paid for him to eat and drink in cash. We said no, obviously.
On the same note, another employee once requested that we pay him the difference between what we pay for a family medical plan and what we pay for a single since he was doing us a favor by not having a family.

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