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Benefit Design Options
One of the advantages of Select Benefits is flexibility. You can work with your clients to customize one or more policies from available benefit options that will meet the needs of their workers and eligible dependents.
 

THINGS TO DECIDE WITH YOUR CLIENTS
 
  • Which benefits to include.

  • The amount they will contribute to the plan. No minimum contribution is required but groups with employer contributions see greater participation.

  • What, if any, eligibility requirements they want to establish.

  • Whether the plan will include eligible dependents.
     

PLAN CLASSIFICATIONS


Plans are classified as either monthly or hourly.
 
Monthly Plans
This is our most popular plan type. It offers the same level of coverage at a fixed monthly rate. It's best suited to policyholders with staff that work a consistent number of hours from month to month. 
 
Hourly Plans
This plan type is for policyholders who have staff that work an unpredictable number of hours from month to month or who have been awarded government service contracts and are required to contribute a certain amount to employee benefits.

Both the premium and the level of coverage in these plans are directly related to the hours each eligible participant works per month. The more hours worked, the richer the benefits.

 

​Level I ​1 through 90 hours worked
​Level II ​91 through 130 hours worked
​Level III ​131+ hours worked

 

ADD-ON PLANS

Monthly and hourly plans can be offered as add-ons to a core set of benefits. 

 
  • With this design, the employer pays 100% of the premium for a core set of benefits. Participants can enrich their plan by purchasing additional coverage.

  • Add-on benefits are voluntary and paid by the insured through payroll deduction.


RATES

Composite: Insured + all eligible dependents at one rate.
Tiered:
Insured
Insured + spouse
Insured + children
Family
 
 

 

 

 

 

 

Select Benefits insurance policies are not a replacement for a major medical policy or other comprehensive coverage. They are designed to provide benefits at a preselected, fixed-dollar amount. Coverage may be subject to exclusions, limitations, reductions, and termination of benefit provisions. Select Benefits policies are insured by Symetra Life Insurance Company located at 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004, and are not available in all U.S. states or any U.S. territory.

 

Copyright © 2004 - Symetra Life Insurance Company, 777 108th Ave NE, Suite 1200, Bellevue, WA 98004. All rights reserved. Symetra® is a registered service mark of Symetra Life Insurance Company.
Customers may access their account information from this site. Other information in this site may be pending approval for use in states with website filing requirements.