Take Time to Review Your Employer Provided Benefits

Employer-provided benefit programs help to maintain your health and financial security while protecting both you and your loved ones in the face of unexpected events. Generally offered when you were first hired, they can represent a significant portion of your overall employee compensation package. Unfortunately, as some of the benefits available may not impact you on a daily basis, you may be unfamiliar with the exact terms of your coverage. Rather than waiting until a sudden situation or an emergency arises, our Chicago benefit claims attorney encourages you to review these policies now.  

Common Types of Employer-Provided Benefits

There are three main categories of benefits that your employer may provide. There are those required by state or federal laws, those that are standard for your job or industry, and those that are included as an added perk or fringe benefit. According to the Bureau of Labor Statistics (BLS), more than 90% of employers offer some type of benefits package to their workers, paying out hundreds each month in premiums per person. Among the most common benefits include: 

• Health, dental, and vision insurance coverage;
• Life insurance;
• Short and long term disability insurance;
• Paid Time Off (PTO), including sick time and vacation days;
• Tuition reimbursement programs and student loan repayment;
• Wellness benefits, such as fitness programs;
• Child care benefits;
• Relocation and housing options;
• Stock and profit sharing plans;
• Bonuses and deferred compensation;
• Pensions and retirement benefits;
• Severance packages. 

Reviewing Your Employer-Provided Benefits

While you may have been impressed by all the benefits your employer offered when you first started your job, you may not have paid attention to all of the details. As a result, there could be benefits you are not taking advantage of. There could also be problems when it comes time to file a claim if you are unfamiliar with specific policy terms. 

To protect yourself, it is important to review your employee handbook and all benefit policy-related documents. If you do not have copies of these items, the Employee Retirement Income Security Act of 1974 (ERISA) requires your employer to provide them at your request and free of charge. When going through benefit program policies, be alert for the following: 

• The summary of benefits, which should be included in the first few pages;
• The date coverage goes into effect;
• The specific services you are entitled to, based on your job category and years of service;
• Any exclusions that could prevent you from being eligible. 

Our Chicago Benefits Claims Attorney is Here to Help

If you have questions regarding employer-provided benefits, filing a claim, or have been denied coverage, Bartolic Law is here to help. To request a consultation, contact our Chicago benefits claims attorney today.