#2250029 - 03/03/21 04:41 PM
Re: Employee Benefits
rlcarey
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SomeoneElse
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Depends on how you define a la carte, but some institutions will give each employee XXX dollar to spend on benefits. Once that money is expended, then the employee has to pick up the remainder of the costs. If the employee chooses not to purchase any benefits, they get the cash. If that is the type of program you are referring too. I've seen what I would call fake a la carte. One benefits program administrator vendor with which I'm familiar phrases it as a la carte, but that was just a way to dress it up differently, with actually the same benefits as the prior year, but costing each employee more. Something like: 2011 Your benefit selections cost you $5,000 a year in employee contributions (plus company pays $9,500, but that's not disclosed to employee) 2012 Same benefits will cost same employee $6,000 a year but yikes that's a big increase, so the vendor tells employees that the company will provide $9,500 a year for employees to "spend" on whatever benefits they choose (same as always, in reality), but the end result is still the same: employee costs go up this year and increase ever year, we'll just focus our messaging on what the company is spending rather than on what the bank is spending. Anytime someone changes how they are phrasing your benefits, pay close attention to what is really changing.
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#2250038 - 03/03/21 05:48 PM
Re: Employee Benefits
Anonymous
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10K Club
Joined: Jun 2004
Posts: 19,855
Pulling people out of the ditc...
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well, not sure what you mean by a la carte either, but we have major medical and dental where employees pay 1/3 and bank pays 2/3, but then offer a number of other benefits that all come at a cost that is born 100% by the employee, such as vision insurance, accidental death insurance, an AFLAC type insurance, Legal Aid insurance, cancer insurance, a FSA or HSA, and a number of others that i can't recall at the moment.
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