FAQ

If I have questions about any of the information included in this resource, who do I contact? NFP.

What are total rewards? Total rewards are the combined tools used to attract and retain employees – I.e. benefits, compensation, 401k, PTO, stipends/reimbursements, wellness programs, professional development, childcare, etc.

Where can I find the plan details for each benefit? Check out the Benefits Highlight Guide and carrier plan documents in the Resources Library.

Who’s an eligible dependent? An eligible dependent is a spouse or a child that meets the following criteria:

  • Spouse: Legally married
  • Child: The employee’s or spouse’s natural or adopted child for which the employee or spouse has legal custody/guardianship and who meets the age requirements of the plan

What’s the age limit for dependent children to remain on the benefit plan? Eligible children are covered until the end of the month in which they reach age 26.

Can an employee add/remove coverage for themselves or a dependent outside of an Open Enrollment period? Yes, but only if a “qualifying life event” occurs. The employee is required to submit proof of the qualifying life event within 30 days of the event date. Examples of qualifying life events include:

  • Loss of prior coverage or access to new coverage
  • Marriage or divorce
  • Birth, adoption, or death

An employee has an upcoming maternity leave – What do I need to do? A short-term disability claim form will need to be submitted to Principal. In the Employer Statement: Financial Information section, be sure to answer:

  • Was salary continued after the last day worked? Yes
  • If yes, how? Vacation

If you need help educating the employee or further understanding what to expect for a maternity leave, contact FirstPerson. Their team is very well versed in this process and can help along the way.

What is an Evidence of Insurability form? The Evidence of Insurability form is a medical questionnaire for an employee or any dependent they are trying to add or increase coverage for. This is required by the insurance carrier because they want to assess the risk of insuring the employee/dependent. Employees will be required to complete this form if:

  • They are a new hire and elect a benefit amount over the Guarantee Issue.
  • They are not a new hire and not currently enrolled, and they are electing life or disability coverage for the first time for themselves or an eligible dependent.
  • They are not a new hire and currently enrolled, and they want to increase the benefit amount for themselves or an eligible dependent.

Where do I get a copy of the life or disability claim form and/or the Evidence of Insurability form? The forms can be found in the Resources Library.

Can I set up an HSA banking account for an employee? No. Employees who are enrolled in the medical plan are responsible for setting up their own HSA account with a bank of their choosing. They will not be able to receive funds that they choose to be deducted or that the company provides until the account is set up and banking information is shared with the company.

I would like to build a long-term total rewards strategy, where do I start? Reach out to your NFP team.

Can I offer benefits that are not currently offered in the High Alpha benefit set? Yes, NFP can help you evaluate options and build a strategy.

I need help building a compensation plan, who can I resource? FirstPerson.

I have executives or high-income earners who require additional coverage, what options do I have? High-income earners are often underinsured based on their income and the limitations of the life and/or disability policies. To bridge the gap in coverage, these employees can be enrolled in Key Person Insurance and/or Individual Disability Insurance (IDI). NFP can help evaluate if and how many employees are underinsured, then develop a strategy to ensure they are fully covered in the event of a claim.

Can I adjust the employer/employee contributions to better align to our company values and serve the needs of our employees? Yes. Medical, dental and vision contributions can be adjusted to best fit your culture and the needs of your employees.

I am interested in putting more toward employees’ HSA, is this something I can do? Yes. HSA contributions from the employer can be increased/decreased as you’d like.

Wellness/wellbeing is important to me, who can I resource for building a comprehensive program? NFP.

Can we include stipends as part of our total rewards package (i.e. technology, remote work, transit/parking, etc.)? Yes. You can get very creative in the “perks” you choose to offer employees.

We are thinking about hiring an employee from a new state. Where do we start? Resource ThinkHR

Can't find what you’re looking for? You guessed it. Contact your NFP team.