Benefit Upgrade Booklet Final
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Monthly Payment Option<br />
When choosing the monthly plan the business is responsible for 1. the employees monthly plan along with 2. The employee<br />
enrollment fees<br />
Example: 150 Employees<br />
Month 1 Plan Membership cost: $4,500 ( based on all individual plans )<br />
Enrollment Fees : $3,000<br />
Total Month 1: $7,500<br />
Each Month Thereafter: $4,500<br />
Total Yearly Cost: $57,000<br />
Yearly Payment Option<br />
If you choose to pay for the memberships up front you will be receiving two additional benefits. 1. Your employees enrollment fee<br />
will be waived. 2. You will receive one months membership fees free. This is based on a<br />
1 year agreement.<br />
If you have employees that leave and are replaced, the new employee will have their <strong>Benefit</strong> <strong>Upgrade</strong> plan starting the 1st of the<br />
month and the old employees plan will terminate. If you grow in size, your additional plans will be month to month until your fiscal<br />
year renewal where they can be added. If your company shrinks in size, the company will credit you dollar for dollar when you<br />
renew your annual agreement.<br />
Example: 150 Employees<br />
Yearly Plan Memberships cost: $54,000 ( based on all individual plans )<br />
Enrollment Fees : $0.00 (waived)<br />
Yearly Agreement Discount: -$4,500 (one month all membership dues )<br />
Total yearly paid up front: $49,500<br />
YEARLY TOTAL FOR 150 EMPLOYEES<br />
PAID MONTHLY: $57,000<br />
YEARLY TOTAL FOR 150 EMPLOYEES<br />
PAID ANNUALLY: $49,500<br />
Participation Options<br />
You will have the option of what amount of the <strong>Benefit</strong> <strong>Upgrade</strong> cost you would like to cover when offering this plan to your<br />
employees. You can pay for the entire amount or a portion of the cost associated. You will also have the option to cover the<br />
employees dependents at a rate of $5 more for up to 3 dependents or $30 more per month to cover a spouse.<br />
Employer Responsibility<br />
Unlike traditional insurance plans, when your employee leaves the company their plan will discontinue. They can choose to purchase<br />
it again on their own if they would like. You have no responsibility to continue providing the plan once the employee leaves the<br />
company.
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