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Frequently Asked Questions About Employee Benefits
How do employee benefit plans work? Below are some common questions about the Nationwide group insurance products.
Am I required to pay the full cost of coverage for my employees?
No. All our group insurance products are available on a “contributory” basis, where you and your employees can share in the cost of coverage. Certain contribution and minimum participation requirements will apply, which may vary by product and group size. For groups of 10 or more full-time employees, you may also offer “voluntary” plans, which are fully employee-paid (minimum participation requirements apply). Contact an employee benefit specialist [hyperlink] for additional information or to request a quote.
Can I buy just one product or are “packages” available?
Yes and yes. Our employee benefit insurance products (where available by state) can be purchased separately or in conjunction with other group insurance products. When purchasing more than one product, you may be eligible for a better rate on one or more product. Plus, you’ll have the convenience of one bill, and working with one company. Many customers, for example, purchase dental and vision together. If you are offering short-term and long-term disability insurance to employees, it may make sense to have seamless administration with one company. (Note: accidental death and dismemberment, or “AD&D”, is only sold in conjunction with group term life insurance). Of course, we hope you’ll consider all our products to maximize value – dental, vision, life with AD&D, short-term disability, long-term disability, accident Ca$hBack, and hospital Ca$hBack.
Can family members of employees be covered by these plans?
Our dental, vision, and Ca$hBack plans are designed to cover eligible dependents (generally, spouse and dependent children). As the employer, you can set eligibility to include or exclude dependents and determine how you and employees will contribute to the cost, within certain guidelines provided by Nationwide and by applicable state or federal regulations. For life insurance, we offer a separate dependent life insurance product, which is generally employee-paid. Disability insurance is only available to eligible employees of the business. Contact an employee benefit specialist [hyperlink] for additional information on dependent eligibility.
Are my employees required to choose a “network” health care provider?
No. All our dental and vision insurance plans include coverage for non-network providers. Where available, choosing a “preferred provider organization” (PPO) network provider will typically result in lower out-of-pocket costs. (PPO plans are not available in all states). Network providers are those that have agreed to a certain fee schedule and agree not to “balance bill” patients beyond their normal deductible, coinsurance, or copayment for covered services.
Accident and Hospital Ca$hBack plans pay benefits based eligible covered services, without regard to any primary health insurance coverage or provider network status.
How long does my contract last? When can I cancel coverage?
You have the freedom to cancel coverage at any time with 30 days notice. When you sign up, we typically guarantee your rates won’t increase for 12 months. Note, however, that your monthly premium is subject to change if you have age-banded rates and an employee changes age brackets, when eligible employees/dependents are added or removed from the plan, or other material changes to the group make-up. We also have longer rate guarantees available for qualifying groups on certain products. Contact a benefit specialist [hyperlink] for details.
Group insurance products underwritten by Nationwide Life Insurance Company, Columbus, Ohio. CA COA #7032. Product availability, benefits and provisions may vary by state, and may be subject to state mandates.