FAQs Archive - Renaissance Benefits

Q: What are Essential Health Benefits (EHB)?

The ACA mandates that all policies issued in the small group and individual insurance markets provide coverage for certain benefits, which are commonly referred to as Essential Health Benefits (EHBs). Those benefits include the following: Ambulatory patient services Emergency services Hospitalization Maternity and newborn care Mental health and substance use disorder services, including behavioral health treatment Prescription drugs Rehabilitative and habilitative services and devices Laboratory services Preventive and wellness services and chronic disease management Pediatric services, including oral and vision care

Q: Who should I contact if I have additional questions about my employer-sponsored life insurance?

If you’ve already filed a claim, you can contact our Customer Care Team or your assigned claim examiner by calling 800-894-4532, Monday through Friday, 8AM to 5PM Eastern. If you have not yet filed a claim or are seeking general information about your disability insurance benefits provided through your employer, please reach out to your benefits administrator or human resources representative.

Q: What is a Form 712 and will one be provided?

The Form 712, Life Insurance Statement, is used to report the value of life insurance policies for estate tax purposes and is filed by executors with other IRS forms (Form 706, 706-NA, or 709) for insurance policy or premium amounts. A Form 712 will be provided upon request after a death claim payment has been processed.

Q: Will I receive a tax form if I receive benefits as a beneficiary?

The death benefit is not reportable for tax purposes, but interest paid may be. A 1099-INT form will be provided for any interest paid in the amount over $10 for a life insurance claim.

Q: What if the Estate is named as beneficiary?

Generally, a court issued Certified Copy of the Letters of Administration or Letters Testamentary for the Estate of the insured will be required, showing appointment of Executor/Administrator of the Estate of the Insured along with IRS form SS-4 confirming the estate TIN number and contact information. In addition, the Executor must complete claimant statement. Some states may allow benefits to be paid under a Small Estate Affidavit, depending on the states regulations and the amount of benefit.

Q: What if the deceased was divorced and named their ex-spouse as beneficiary?

If the divorce occurred while the policy was in force, the state jurisdiction will determine how or if the divorce impacts the ex-spouse’s eligibility as a beneficiary. In some states, the beneficiary designation of an ex-spouse is automatically revoked at the time of divorce. In this situation, if the member wants the ex-spouse to remain the named beneficiary, they would need to complete a new beneficiary designation form after the divorce was finalized. In some cases, the court may mandate that the ex-spouse remain the beneficiary of the policy, even if the member has updated their beneficiary designation to name a different beneficiary. Copies of the divorce decree and/or property settlement may be needed to determine eligibility of the ex-spouse or any other named beneficiary(ies) before the death benefits can be processed.