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 beginning with 8-1 new business and medical renewal dates.
All new business quotes for basic life plans will include a reminder that the life plans less than a $25,000 benefit will not qualify for a basic life Packaged Savings administrative credit.
Beginning 8-1 renewals, all active 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. In order to remain eligible for the basic life Packaged Savings administrative credit, groups must increase their basic life benefit to $25,000.
Please contact your TIE Sales Rep or Renewal Rep for more information at 972-991-6500.