Laven / InsuranceMichiana.com provides the most comprehensive and cost effective employee benefit plans available. Combined with quality personalized service and responsive insurers, our product offerings are hard to beat. From the very small to the very large employee groups, we have the staff and resources to solve your coverage needs.
Group Employee Benefit Plans include:
We encourage you to contact us or request a "Quick Quote" for Employee Benefits.
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Some of Our Quality Insurers Include:
Benefit Descriptions:
- Major Medical – Fully Insured and Partial Self Funding:
- Health insurance designed to finance the expense of major illness and injury. Characterized by large benefit above an initial deductible, which reimburses the major part of all charges for hospital, doctor, private nurses, medical appliances, prescribed out-of-hospital treatment, drugs, and medicines. The insured person pays the remainder.
- Health Maintenance Organization (HMO):
- An organization that provides a wide range of comprehensive health care services for a specified group at a fixed periodic payment. The HMO can be contracted with and sponsored by the government, medical schools, hospitals, employers, labor unions, consumer groups, insurance companies, and hospital-medical plans.
- Preferred Provider Organization (PPO):
- A group of hospitals and physicians that makes a contract with employers, insurers, and other organizations to provide comprehensive health care services at discounted fees for individuals who are members of the PPO.
- Cafeteria Plan (Section 125):
- Generic term for an employee benefit plan that allows employees to select among the various group life, medical expense, disability, dental, and other plans that best meet their specific needs. Also called flexible benefit plans.
- Group Life:
- Life insurance usually without medical examination, on a group of people under a master policy. It is typically issued to an employer for the benefit of employees, or to members of an association, for example a professional membership group. The individual members of the group hold certificates as evidence of their insurance.
- Long-Term Disability:
- Insurance issued to an employer (group) or individual to provide a reasonable replacement of a portion of an employee's earned income lost through serious and prolonged illness or injury during the normal work career.
- Short-Term Disability:
- Coverage designed to cover a disabled person as long as he/she remains disabled up to a specified period not exceeding two years.
- Supplemental/Voluntary Coverages:
- These benefit are normally offered through an employer and can enhance coverages of an employee. Usually the employee will incur the additional premiums for this insurance through payroll deduction.
- Dental Plans:
- Individual or group plan that helps pay costs of normal dental care as well as damage to teeth from an accident.
- Vision Plans:
- Individual or group coverages to help pay for the cost of eye care.
- Long-Term Care Coverage:
- The continuum of broad-ranged maintenance and health services to the chronically ill, disabled, or retarded. Services may be provided on an inpatient (rehabilitation facility, nursing home, mental hospital), outpatient, or at-home basis.
- Key Man Coverage:
- Insurance designed to protect a business firm against the loss of income resulting from the death or disability of a key employee.
- Buy-Sell Business Planning:
- An agreement made by the owners of a business to purchase the share of a disabled or deceased owner. The value of each owner's share of the business and the exact terms of the buying-and-selling process are established before death or the beginning of disability.
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