KBA EMPLOYEE BENEFITS
KBA MEDICAL AND DENTAL PLAN
The KBA medical and dental plan is a self-funded plan that pools the risks of all of the participating banks
in a multiple employer plan. This allows banks to offer competitive benefits in a consistent and affordable manner
taking advantage of economies of scale which lower the administrative costs. The plan is administered by the KBA with
BCBS of Kansas providing stop loss protection, claims administration and their excellent network of providers with
negotiated allowances and discounts that assist in minimizing claim costs and helping keep premiums as low as possible.
KBA GROUP TERM LIFE PLAN
The KBA group term life plan allows banks to provide their employees with group term life insurance. The insurance amount
is based on a multiple of salary selected by each participating bank. In addition to the employee life benefit there is a
matching amount of accidental death coverage on the employee and a $4,000 term life benefit on spouses and eligible
dependent children. The bank can also elect to offer voluntary employee and dependent life insurance which is designed to be
elected on an employee by employee basis and paid for by the employee via payroll deduction.
KBA LONG TERM DISABILITY PLAN
The KBA long term disability plan allows banks to help protect their employees most important asset, the ability to earn
a living. The plan will replace 70 percent of an employee's salary in the event of a disability. The benefit will continue for the
length of the disability up to age 67.
KBA VOLUNTARY ACCIDENTAL DEATH & DISMEMBERMENT PLAN
The KBA voluntary AD&D plan provides a benefit to employees and their dependents if they are killed in an accident. The plan is
very popular with bank employees that have spouses involved in vocations that are more risk prone than banking such as
agriculture and trucking. The plan is designed to be elected by the employee and paid for via payroll deduction, however, several
banks purchase a certain level of the coverage for all of their full-time employees.
KBA FELONIOUS ASSAULT PLAN
The KBA felonious assault plan enables a bank to pay a $50,000 benefit to a bank employee's family if the bank employee is killed in either
a crime involving the bank's assets or in an accident while traveling on bank business. The very low premium is paid annually
and is based on the total number of employees and the number of physical locations.
For additional information, contact: