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Domestic Partner Benefits


Health insurance plans are ever-evolving employee benefits where innovation is continually being tested and definitions redefined. A concept in employee coverage currently gaining notoriety is Domestic Partner Benefits.

Providing health coverage for a domestic partner is becoming increasingly important to small companies and large corporations alike. It’s a valuable incentive to help recruit and retain talent in a thriving workforce where premium benefits are in high demand. Domestic partner coverage would give the same corporate insurance benefits currently offered to an employee’s spouse to an individual who is in a committed relationship with an employee.

As of May 2000, five state governments and 92 Fortune 500 companies (including such names as IBM and AT&T) were offering domestic partner benefits to their employees. These companies vary, however, in whether they offer benefits to only same-sex domestic partners or to both same- and opposite-sex domestic partners.

While the idea of domestic partner benefits has received favorable media attention, it holds hidden costs for both employee and employer that merit careful attention. Many who are drawn to the social appeal of this benefit may not realize the related cost – both for employee and employer.

More : accounting.smartpros.com

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Will State Workers in Arizona Be Able to Get Partner Benefits?

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