News & Updates
Starting with August 1, 2015 new business and Medical renewal effective dates, Small Business customers with 2 to 99 eligible lives will be required to purchase an employer-paid basic Life plan with a benefit of $25,000 or greater to qualify for the basic life Packaged Savings administrative credit.
New business proposals for basic life plans will include a reminder that the life plans with a benefit of less than $25,000 will not qualify for a basic life Packaged Savings administrative credit.
Starting with August Medical renewals, active in-force customers that currently have a basic Life plan with less than a $25,000 benefit will be offered a proposal at renewal to increase their basic life plan to a $25,000 benefit. Groups that do not increase their basic Life benefit to $25,000 will no longer be eligible for the basic Life Packaged Savings administrative credit but can continue their basic life coverage at its current benefit level.
For more information please visit the Packaged Saving page.
For questions, please contact a member of your b&p Sales Team - 888.722.3373.