Life & Health Benefits Policy Feature Checklist
What to confirm in a life & health benefits policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current benefits summaries and plan documents, and check the box next to each item you can confirm is in place — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Medical Plan Meets ACA | Standards If you have 50+ full-time equivalents, the plan must be affordable and meet minimum value to avoid penalties. | Standard | |
| Eligibility Rules in Writing | Confirm hours, waiting period, and classes in the plan document match what you actually do. | Standard | |
| Section 125 Plan Document | Required for employees to pay their share pre-tax. | Standard | |
| Summary Plan Descriptions & SBCs | Required notices — missing them can bring penalties. | Standard | |
| Evidence of Insurability Tracking | Start deductions only after approval — employers have been held liable for unapproved coverage. | Often limited | |
| Stop-Loss (Level- or Self-Funded) | Confirm specific and aggregate limits and that large claims aren't excluded. | Often limited | |
| Disability Coverage (STD / LTD) | Replaces income when employees can't work — often missing at small employers. | If needed | |
| Dental & Vision | Common recruiting expectations — can be employer-paid or voluntary. | If needed | |
| COBRA / State Continuation | Required for most employers — confirm who sends notices. | If needed | |
| Voluntary Benefits | Accident, critical illness, and hospital plans at no cost to the employer. | If needed |
The gap most often missed in this coverage
The gap most often missed in employee benefits is administration, not the plan itself. Employers have been held liable when they collected payroll deductions for life or disability coverage that the carrier never approved, and missing notices or plan documents can bring penalties. With family premiums now near $27,000 a year, renewals also deserve a full market review. Reconcile enrollment with deductions every month, and keep plan documents and notices current.
Send us the checklist and we'll review your life & health benefits coverage line by line, then market it across multiple carriers that compete for your account.
Related: Life & Health Insurance Plans · Life & Health Benefits Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a life & health benefits policy include?
Standard features to confirm in a life & health benefits policy include Medical Plan Meets ACA, Eligibility Rules in Writing, Section 125 Plan Document, Summary Plan Descriptions & SBCs. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my life & health benefits coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.