See: percentage contribution .
Insurance Encyclopedia
Employee contribution (Health Insurance/Pension)
In health insurance, the portion of premium expenses paid by the employee. In pensions, a pay deduction applied to a retirement plan.
Employee declaration
Medical questionnaire completed by a member of a group life pension scheme when the benefits sought are in excess of the free cover limit.
Employee Dishonesty
Any dishonest act of an employee which may contribute to a loss for the employer. Fidelity Guarantee Bonds are usually used to protect against such losses.
Employee dishonesty (Criminal)
Any false act by an employee that causes a loss to the employer.
Employee dishonesty coverage
Insurance protecting employers from loss due to theft by their employees.
Employee dishonesty coverage form (Criminal)
Insurance that covers the loss of money and other property that is caused by an employee’s dishonesty. This is actually a commercial crime policy in the form of a fidelity bond.
Employee life insurance
Term life group insurance policy for employees of an employer.
Employee pension benefit plan (Pensions)
An employer-created-and-maintained program that offers retirement benefits or defers income until the employee is terminated.
Employee Retirement Income Security Act (ERISA)
Federal legislation enacted in 1974 that protects pension rights of employees, prohibits states from applying specific mandates to self-insured group health benefit plans, and shields self-insured employers from paying premium taxes, which insurance companies and managed care plans must do. Additional ERISA provisions require that health plans provide a description of the benefits of the plan, identify the persons responsible for operating the plan, explain the arrangements for funding and amending the plan, provide an explanation of benefits (EOB) when a claim is denied, and provide information on members’ rights of appeal if a claim has been denied. The Department of Labor administers the law. Also called the Pension Reform Act .