Save Money, Get Better Service by Privatizing Family Leave Insurance
Are you one of the growing number of New Jersey business owners saving money and getting better service by writing your statutory TDB coverage through a private insurance company? Did you know that you can also privatize your Family Leave Insurance to enjoy the same advantages?
EZTDB works with top-rated carriers to write private Family Leave Insurance in New Jersey, saving our clients money and providing better levels of service than they would receive through the state plan.
Bundle Family Leave Insurance with TDB for One Point-of-Contact
When you let EZTBD write your FLI coverage through a private plan, you are guaranteed:
- Coverage equal to or better than the state plan
- Rates equal to or lower than the state provides
You’ll also receive faster, personalized claims service with a private plan. By bundling TDB with FLI, you’ll have one single point of contact for these important (and complicated) employee benefits.
One study from The Hartford insurance company found that 54% of employers have said there’s no easy way to track and manage all the different types of employee leave programs in today’s rapidly changing business landscape. Bundling TDB and FLI through one insurance agency and a single carrier makes it easier to administer plans, make claims, and track claims. You and your employees will have one claims advisor dedicated to providing compassionate care.
Who Qualifies for FLI and What Are the Benefits?
Employees who have worked at least 20 weeks and earned at least $240 per week or have earned a total of $12,000 in the base year prior to their leave qualify for FLI and TDB under the state plan. With a private plan, employers can waive this requirement to provide leave to their entire workforce.
In 2022, employees can receive 85% of their average weekly wage, to a maximum of $993 per week, for both TDB and FLI benefits.
Under the state plan, FLI is completely employee funded. But if you choose a private plan, you can opt to cover all or part of the premium costs for your employees.
FLI can be used by workers who need time off to:
- Care for a new child within the first year of birth, adoption, or foster care
- Care for an ill or aging family member
- Manage medical, legal, or financial situations related to domestic or sexual violence
Save Money When You Bundle FLI with Other Employee Benefits
Bundling TDB and FLI together with a private plan not only streamlines benefits management for your team, but it can save your company money.
You can realize additional cost savings – and put together a robust benefits package that can help recruit retain employees – by bundling ancillary benefits and voluntary worksite benefits with FLI and TDB, too. Benefits that can help your company stay competitive when it comes to attracting talent include:
- Group Life / AD&D
- Long-term Disability (TDI / LTD)
- Accident insurance
Additionally, key employee insurance can protect you and your livelihood should you become ill, injured or unable to work.
Your EZTDB insurance expert can help you review your current employee benefits plan and see where you could use additional coverage for greater peace-of-mind for yourself and more enticing benefits for your workers.
With the next deadline to privatize TDB and FLI in New Jersey coming up, you’ll want to get your private plan in place by January 1, 2023. Let EZTDB help you right now.