LLQP Exam Dumps | Juliette owns a medium-sized business with approximately 100 employees. Three years ago, she set up a

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Question 72

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Question 72/126

Juliette owns a medium-sized business with approximately 100 employees. Three years ago, she set up a small group benefits plan. Her employees, however, are unhappy with the coverages offered under the plan.
Moreover, for tax purposes, the group plan shares the cost of disability premiums with the employees-an expense they do not welcome. What should Juliette's agent tell her?

A. She should instead opt for an EHT, which affords more flexibility with no tax implications for her employees.

B. She should instead opt for a PHSP, which provides more flexible and tax-free disability benefits.

C. Her existing group plan is the best solution, because a group of that size would not be able to take advantage of other "grouped" alternatives.

D. The existing group plan is the most cost-effective and tax-free way to provide these benefits.

Correct Answer: B

Comprehensive and Detailed Explanation:
A Private Health Services Plan (PHSP) offers flexible, tax-free benefits (employer-paid premiums are deductible, benefits non-taxable), addressing employee dissatisfaction and tax concerns (Chapter 8:Group Plan Specifics).
Option A: Incorrect; EHT (Employer Health Tax) isn't insurance.
Option B: Correct; PHSP fits needs.
Option C-D: Incorrect; group plan isn't optimal or tax-free for employees.
Reference: LLQP Accident and Sickness Insurance Manual, Chapter 8:Group Plan Specifics.

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