No it is not necessary to indicate premiums on the SPD, however there should be a reference made as to where they are available.
The Internal Revenue Code does not usually classify domestic partners as dependents; an employee is required to be taxed on health benefits provided to a domestic partner that does not fit the definition of a dependent according to §152(d) of the IRC. Due to this requirement, the value of the coverage is taxable to the … Continue reading ARE THERE ANY IMPLICATIONS FOR COVERING DOMESTIC PARTNERS?
Generally, no. There are however some states that extended the age 26 limit for children to a higher age, as to have dependents remain covered under the employees coverage. If you reside in a state that requires carriers to insure dependents beyond the age 26 limit, you must comply with the revised limit.
Dependents are typically an employee’s spouse, domestic partner or children. It is important to confirm the definition of who is classified as a dependent in the plan design, because only dependents permitted by the plan are covered, and those dependents are usually defined under the current tax code.
Employers may extend benefits to terminated employees by having said employees pay the premium, or no premium. Commonly, employers do this when the termination results from layoffs or reasons beyond the terminated employee’s control. Other times, the extended coverage is due to a contractual agreement between employer and employee. The cost of coverage is up … Continue reading DOES AN EXTENSION OF BENEFITS AFFECT CONTINUATION OF COVERAGE THROUGH COBRA?
Yes, an employer may extend benefits to employees that are terminated or laid off, frequently at the cost of the former employee.