Overview
What is Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan?
Canon Medical Systems Usa Inc offers a Self-Funded Short-Term Disability Plan to its eligible employees. This benefit scheme provides financial assistance when employees encounter temporary disabilities, preventing them from working. The plan is funded solely by employee contributions, with a cap set at 1.1% of gross wages, subject to a maximum contribution of $1,601.60 annually. Employees can receive replacement income, ranging from 65% to 70% of their gross weekly pay, with a minimum and maximum benefit of $50 and $3,437.50 respectively. As of December 31, 2022, 549 employees participated in the plan, which saw an increase from 515 in the previous year. This plan serves as a safety net, ensuring Canon Medical Systems USA, Inc. employees maintain financial stability during temporary medical disabilities.
Is Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan legitimate?
Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan is a legitimate nonprofit organization registered as a 501(c)(9) entity. Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan?
The Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan is designed to offer financial assistance to eligible employees who encounter temporary medical disabilities, preventing them from working. Its primary objective is to provide a replacement income during this period. The plan is funded solely through employee contributions, with a cap of 1.1% of gross wages, subject to an annual maximum contribution. The benefits under this plan range from 65% to 70% of the employee's weekly pay, with a minimum and maximum weekly benefit of $50 and $3,437.50 respectively. As of the end of the current plan year, 549 employees actively participated in the plan, which is an increase from the 515 participants in the previous year.
Who is the CEO of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan?
Paul Bae is the Trustee of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan.
What is the revenue of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan?
Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan's revenue in 2022 was $690,964.
Who are the executives of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $623,083
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan?
Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan
Canon Medical Systems Usa Inc's Self-Funded Short-Term Disability Plan is designed with a mission to offer financial aid to eligible employees of the company in the event of a short-term disability. The primary objective of this plan is to provide a safety net, offering replacement income when an employee is unable to work due to a medical condition, ensuring a certain level of financial stability during this challenging period. The plan is funded solely through employee contributions, with a cap set at $1,601.60 annually, and the benefit amount varies based on the employee's classification, ranging from 65% to 70% of their gross weekly pay, with a minimum and maximum weekly benefit of $50 and $3,437.50, respectively. As of the end of the current plan year, 549 employees were actively participating in the plan, demonstrating its relevance and utility to the workforce.
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Impact
October, 2024
The Canon Medical Systems USA Inc Self-Funded Short-Term Disability Plan provides critical financial support to employees experiencing short-term disabilities that prevent them from working. By offering replacement income, the plan helps alleviate the financial burdens associated with temporary medical conditions, contributing to employees' overall well-being and job security.
Funded solely through employee contributions of 1.1% of gross wages, the plan ensures that employees receive between 65% to 70% of their gross weekly pay, with a minimum benefit of $50 and a maximum benefit of $3,437.50 per week. This structure enables participants to maintain a level of income during their recovery, reducing the stress often linked to unexpected health issues.
With 549 employees enrolled as of December 31, 2022, up from 515 the previous year, the plan reflects its growing importance within the organization. It showcases a commitment to the welfare of employees, helping them navigate periods of disability while reinforcing their connection to the workplace. Overall, the Canon Medical Systems USA Inc Self-Funded Short-Term Disability Plan serves as a vital resource for employees, promoting health, stability, and mutual support within the company.
This information is meant to be a general summary of Canon Medical Systems Usa Inc Self-Funded Short-Term Disability Plan. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $690,964
- Gross Receipts: $690,964
Assets and Liabilities:
- Total Assets: $2,368,420
- Total Liabilities: $92,240
- Net Assets: $2,276,180
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Organization Details
Founding Year
1994
Phone
(714) 730-5000Principal Officer
Paul Bae
Main Address
2441 Michelle Drive, Tustin, CA, 92780
NTEE Category
Code: Y40 - Mutual benefit
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