Employment Benefits

What Does it Do?

-It provides the employer with protection in the event they make an error in the administration of their employee benefit program. Employee benefits can be a broad category and can include group health and dental insurance, voluntary benefit packages, retirement accounts, pension plans and profit sharing plans. 

Examples

-If a new employee requests to receive medical insurance through their employer and they failed to add the new employee to the plan, the health insurance company later denies coverage for the employees medical claim. IF they have employee benefits liability, they would've paid for it.

-If a new employee requests to receive medical insurance through the employer failed to add the new employee and the health insurance provider later denies coverage for the employee. The employee benefits liability would've paid for the health insurance plan. 

Errors May Include

-Incorrect descriptions of various benefit plans or the rules to be eligible. 

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