IN-LIEU-OF BENEFITS PAYMENTS
Monetary Incentive for Waiving Certain Insurance Benefits
Did you know that if you have insurance coverage elsewhere, you could be eligible for our In-Lieu-Of Benefits Payments? Qualifying employees receive an additional $100 per paycheck (taxable) for waiving the following benefits:
Health Insurance
Dental Insurance
Vision Insurance
Employees wishing to receive the in-lieu-of benefits payments must waive the benefits above in iSolved, and submit proof of their other health insurance coverage (upload it into iSolved). If an employee enrolls in any of the above insurance plans, they will become ineligible for the in-lieu-of benefits payments.
Employees may still participate in the following benefits and are not disqualified from receiving the in-lieu-of benefits payments for doing so:
Retirement Plan
Flexible Spending Account
Life Insurance
Short & Long-Term Disability Insurance