> Workers' compensation Most employers are required by law to provide workers' compensation insurance through a state system operated by the Department of Labor & Industries. Worker comp pays an employee's medical expenses and provides some income replacement when a worker is injured on the job.
> Indemnity Indemnity plans are also referred to as “fee-for-service.” Unlike managed-care plans, indemnity plans allow absolute freedom in selecting physicians or medical facilities and permit self-referral to a specialist.
> Long-Term Disability (LTD) Long-term-disability plans provide income for an individual who cannot work because of an illness, disease, or non-occupational injury. Most plans require that the individual be a full-time employee for at least one year before the disability coverage applies.
Mass Mutual Life Insurance Company Establishes Major Aid Program
(Springfield, Mass.) - MassMutual Financial Group announced today a major relief effort designed to aid victims of Hurricane Katrina. Among the key provisions: Massachusetts Mutual Life Insurance Company (MassMutual) will make a $250,000 donation to the American Red Cross to aid efforts to help the victims of Hurricane Katrina, and will significantly and temporarily expand its employee matching gift program to enable eligible employees and sales representatives to have their donations to the American Red Cross and the Salvation Army double matched by the company.
In addition to the donation to the American Red Cross, MassMutual's employee matching gift program has been expanded to allow MassMutual to match employee contributions to the American Red Cross and the Salvation Army on a 2-for-1 basis. For example, for every dollar sent by MassMutual employees to the American Red Cross or Salvation Army, MassMutual will match that gift with $2. This program will continue for the next 60 days.
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Collierville
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Cordova
Dayton
Dyersburg
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Madison
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Memphis
Millington
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Mount Juliet
Murfreesboro
Nashville
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Smyrna
Soddy Daisy
Springfield
Tullahoma
Did You Know?
Generally, you must report as income any amount you receive for your disability through an accident or health insurance plan paid for by your employer.
If both you and your employer have paid the premiums for the plan, only the amount you receive for your disability that is due to your employer's payments is reported as income. If you pay the entire cost of a health or accident insurance plan, do not include any amounts you receive for your disability as income on your tax return. If you pay the premiums of a health or accident insurance plan through a cafeteria plan, and the amount of the premium was not included as taxable income to you; the premiums are considered paid by your employer, and the disability benefits are fully taxable.
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Tennessee and nationwide:
Mar 02, 2007 - Mental Health Parity Act The Mental Health Parity Act, MHPA, of 1996 requires plans that offer mental health benefits to set lifetime dollar limits Read more >
Jul 14, 2006 - Hurricane Insurance Claims Paid in Mississippi Approaching $3 Billion Mark Jackson –Commissioner of Insurance George Dale announced today that insurance companieshave paid out nearly $3 billio Read more >
Legal Disclaimers The information provided on Tennessee Insurance Advisors.com is not intended to be insurance advice, but merely conveys
general information related to insurance issues commonly encountered.
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