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...ash Value Comprehensive Deductible: $1,000 per Occurrence Collision Deductible: $1,000 per Occurrence ...rruption 12 months Single Combine Deductible Spoilage Settlement on Selling...

...e PPO, you'll have to pick up a deductible or the difference between the charg...o the paperwork yourself and your reimbursement will be far lower. If you see ...

... have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Payroll Deduction Employee Benefits: Modulev-B 4/30/2013 10:40:32 PM by CompleteMarkets Editor This content has not been rated yet. &# 160 PAYROLL DEDUCTION EMPLOYEE BENEFITS: MODULEV-B &# 160 THE COVERAGE Payroll deduction employee benefits can involve a number of ... , unemployment taxes, and Workers Compensation, meaning a $12,000 annual savings. That's how a basic Section 125 plan works. A more complicated plan involves what is often known as a flexible spending (as opposed to flexible benefit) plan, or a reimbursement account plan. This type of plan allows employees to direct, on a voluntary basis, pre-tax dollars into a reimbursement account to be used to pay for dependent care and non-reimbursed medical expenses. Essentially, it covers those items not normally covered by an insurance plan ... Deductibles and co-payments are eligible expenses, along with any item the Internal Revenue Service would normally allow as an itemized deduction on its 1040 income tax form. So, instead of putting the $100 a month in the above example toward a specific insurance premium, the employee could direct that money, pre-tax, into an account designated to pay for child care, or for unreimbursed medical expenses. For example, the employee may at present be paying $100 a month to a day-care center or babysitter. If he or she puts ...

...y covered by an insurance plan. Deductibles and co-payments are eligible expen...nationally will be able to install a program anywhere across the country, open...

... will attempt to narrow the field to some basic Health plans, including HMOs and PPOs, sold to individuals and groups. Medigap, Long-Term Care policies, and other specialized coverages deserve more in-depth coverage than they could receive here. Cafeteria plans are covered in your Payroll Deduction' sales campaign. The P/C agent is no doubt familiar with the concept of a package policy' covering many eventualities in one contract. Health insurance can be thought of as operating on the same principle. Health insurance assumes risks from many causes and offers ... is known as the relative value scale (RVS), although it is not used often anymore. RVS is a system of predetermined allowances of medical procedures, the value of which, in terms of time allotted, is determined by the insurer. The amount of reimbursement per hour for the provider is selected by the insured. Where it still exists, RVS more often than not applies to forms of surgery. Pre-Paid Plans-These plans operate similarly to insured plans, but usually do not have an overall lifetime limit of liability. They ... 4/30/2013 10:40:32 PM by CompleteMarkets Editor This content has not been rated yet. &# 160 HEALTH INSURANCE: MODULE V-H &# 160 OVERVIEW Health insurance has grown into a vast and complicated field involving many types of policies and programs: Group, individual, Major Medical, Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), prepaid plans (Blue Cross/Blue Shield), Dental plans, Long-Term Care, Medigap, cafeteria plans, and many more-in one way or ...

... able to see at a glance where the inconsistencies are and being able to do specific training to correct them. If everyone is doing tasks the same way, think of the positive impact on errors and omissions risk management. If you carry a $10,000 deductible on your E & O and avoid one claim, you have made an impact on profits. The other productivity problem most automated agencies have is that they still operate with basically two systems. One is the automation system and the other is the continuance ... apply to that situation as well as the company commission reduction. There are five tangible strategies that might be employed and they are as follows: Use company relationships as a vehicle to either get concessions or improvements in profit sharing, expense allowances, advertising, or association reimbursement. Roll a book of business over to a carrier who will give you enhanced commissions or who will give you a first year increase and/or who will assist with the rollover, so that you don't have to spend a lot of your own office staff ... to do it. If you pay producers for Personal Lines production, new and renewal, eliminate renewal commissions first and turn all servicing over to your Personal Lines CSR staff. If you do not now pay Personal Lines renewal commission to producers, consider reducing the new business commission for producers and turning more of the new business production activity over to your CSR staff. Have the producer do less for the reduced commission. Take specific actions to improve your cash flow and to reduce agency debt service. Reduce your agency receivables and bad ...

... profits. Can cause additional bookkeeping, payroll, tax records. In light of the Tax Reform Act of 1986, it may not be as easy for your employees to fund their own Individual Retirement Accounts. Under the new law, a married individual may contribute and deduct up to $2 ,000 per earner to an IRA, as long as neither spouse is an active participant in an employer-maintained retirement plan. So if the spouses are currently participating in their employers' plans, your married employees may now have a problem, ... of the value of these rewards and do not take them for granted. If you do not offer the following perks, you might consider them as an additional form of compensation and analyze how they would affect your bottom line. 1. Medical care and wage loss reimbursement. In this situation, you pay a premium to a provider for Group Health care for your employees. RANGE: Varies form company to company. NOTE: May wish to offer substitute benefit if Medical insurance is already in force through spouse. 2. Contributions ... offset that total salary with Sales Expense, by offering a financial incentive for production. (Stop and think: Where are you spending those sales dollars now? Are you subsidizing staff salaries? Doing it all yourself?) You must continually review and update your salary program to ensure that salaries are commensurate with the responsibilities of the position, their performance of the individual, the cost of living, and industry averages. Colleagues at other agencies are a good resource for finding the going rates for different staff positions. ADDITIONAL DUTIES AND ...

...it, and not part of any insurance program involved in the Shareholders Agreeme...

... 1. Medical care and wage loss reimbursement. In this situation, you pay a pre...ifications. 3. Provisions for or reimbursement of sick time (prior to the eli...

...sability, generally after a 20% deductible or at least a 20% loss of earnings....ould benefit from a Group Disability program. Business Overhead Expense covers...