Navigation Links
Zane Benefits Publishes New Information on Defined Contribution Employee Classes
Date:1/8/2014

Park City, Utah (PRWEB) January 08, 2014

Today, Zane Benefits, the #1 Online Health Benefits Solution, published new information on the defined contribution employee classes.

According to Zane Benefits’ website, taking care of employees is one of the major reasons companies offer health benefits - from major global corporations to the newest small business. Another primary reason is recruiting and retaining great employees. Getting the best people requires competitive compensation - including health benefits. One way companies use their defined contribution health plan to recruit and retain the best employees with is with employee classes.

Using Employee Classes Makes Business Sense

According to Zane Benefits’ website, with salary and other types of compensation, employers routinely compensate groups of employees differently. Field sales reps are compensated differently than sales managers. Some employees get company cars, while others earn quarterly bonuses. Businesses offering a defined contribution health plan are applying this same logic.

Using a defined contribution health plan, companies can create employee classes to offer benefits tailored to their company's objectives, transforming the health benefit plan into a tool to find and keep great people.

Providing Class-Specific Health Benefits is Clearly Allowed by ERISA and HIPAA

According to Zane Benefits’ website, providing different levels of benefits to classes of employees is at the core of benefits compensation and is routinely done by major corporations. Federal regulations state that "a plan or issuer may treat participants as two or more distinct groups of similarly situated individuals if the distinction between or among the groups of participants is based on a bona-fide employment-based classification consistent with the employer's usual business practices."

To comply with these regulations, employee classes within the defined contribution health plan must:

  • Be based on bona-fide business differences.
  • Treat all "similarly situated" employees equally.
  • Not discriminate against unhealthy people.
  • Spell out the requirements for classes and benefits in the ERISA plan document.

Click here to read the full article.

--

About Zane Benefits
Zane Benefits, the #1 Online Health Benefits Solution, was founded in 2006 to revolutionize the way employers provide employee health benefits in America. We empower employees to take control over their own healthcare, while helping employers recruit and retain the best talent. Our online solutions allow small and medium-sized businesses to successfully transition to a health benefits program that creates happier employees, reduces costs and frees up more time to serve their customers. For more information about ZaneHealth, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2014/01/prweb11465057.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Zane Benefits Publishes New Information on the ROI of Defined Contribution Health Benefits
2. Self-Esteem Elevation For Children Coaching Certification Review: Secrets And Benefits of This Program Exposed By Tinia Assaraf From The Website Vinamy.com
3. “Benefits of Aloe Vera,” A New Article On Vkool.com Illustrates the Advantages of Aloe Vera - V-kool
4. Zane Benefits Publishes New Information on Health Insurance Solutions for Small Tech Companies
5. Enterprises TV to Air a Series on the Benefits of an Active Lifestyle
6. Zane Benefits Publishes New Tips for Reducing the Cost of Employee Turnover
7. Zane Benefits Publishes New Information on HSA Contribution Limits in 2014
8. Fast Hidradenitis Suppurativa Cure Review: Secrets and Benefits of This Program Exposed by Fabianne Grace From the Website - HealthReviewCenter
9. HTG, A Newly Launched Medical Site, Urges Readers to Consider the Benefits of Traditional Hemorrhoid Treatment in Advanced Cases
10. Zane Benefits Announces a New Health Benefits Planning Tool for Small Businesses
11. Zane Benefits Publishes New Information on Calculating HR Employee Retention Rates
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... , ... June 25, 2016 , ... First Choice ... States, named Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm ... Medical Director of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical ...
(Date:6/25/2016)... Oklahoma (PRWEB) , ... June 25, 2016 , ... ... both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic procedures ... Oklahoma City area —Johnson is one of the first doctors to perform the ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits ... terms of the latter, setting the bar too high can result in disappointment, perhaps ... slow progress toward their goal. , Research from PsychTests.com reveals that ...
(Date:6/24/2016)... ... ... Those who have experienced traumatic events may suffer from a complex set ... drug or alcohol abuse, as a coping mechanism. To avoid this pain and suffering, ... traumatic event. , Trauma sufferers tend to feel a range of emotions, from depression, ...
(Date:6/24/2016)... ... 2016 , ... Marcy was in a crisis. Her son James, eight, was out of control. ... and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... rocks at my other children and say he was going to kill them. If ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- Research and Markets has announced the addition ... 2022" report to their offering. ... with kidney failure, it replaces the function of kidneys by ... and thus the treatment helps to keep the patient body,s ... Increasing number of ESRD patients & substantial healthcare ...
(Date:6/23/2016)... Research and Markets has announced the ... 2016 - Forecast to 2022" report to their offering. ... up to date financial data derived from varied research sources ... with potential impact on the market during the next five ... comprises of sub markets, regional and country level analysis. The ...
(Date:6/23/2016)... and INDIANAPOLIS , June ... receiving a Lilly Diabetes Tomorrow,s Leaders Scholarship is any ... scholarship winners, announced today online at www.diabetesscholars.org ... type 1 diabetes stand in the way of academic ... supported the Foundation,s scholarship program since 2012, and continues ...
Breaking Medicine Technology: