Employee benefits insurance in Bethlehem, PA helps provides coverage to an employer for any omissions or errors in the employee’s administration of the employee benefits. While this kind of insurance isn’t required, it does provide some protection. If your business offers benefits to employees as part of a work contract, and if there are different benefits offered, it can come in handy. This insurance will help your businesses if your business offers benefits to employees, your company has employees who manage the benefit programs that are offered, you have different benefits for different types of employees, or if your business has a high employee turnover. If you aren’t sure if your business would be aided by having employee benefit insurance, contact an agent at Saucon Insurance Agency.
Employee benefits insurance covers claims made by former or current employees who believe that a form of benefit that was outlined in their contract wasn’t properly managed on their behalf. Some of the things this can include a wrong description of benefits plans and eligibility rules, records or files related to employee benefits missing, or failure to enroll, maintain or terminate beneficiaries. The policy should cover all legally required benefits, any optional benefits, and all employees who are receiving benefits. It doesn’t recover any claims about poorly performing retirement plans, claims related to salary, any bodily injury claims, harassment claims, or any benefits offered to employees that don’t relate to money.
Claims like this against a business can be expensive and it can also hurt the reputation of the company. Insurance can help with some of the financial repercussions that these types of claims can cause. Make sure your plan covers the benefits your company offers.
Contact Saucon Insurance Agency, serving Bethlehem, PA, to get a quote on employee benefits insurance.