I have a husband and wife that work for our company. For all eligible employees, we pay 80% of the rate for single health insurance coverage and 75% of the rate for family coverage. We do not have a flexible spending plan.
I want to pay 100% of the entire cost of a family plan for either the husband or the wife instead of paying for 75% of an individual plan and 80% of another plan for the wife. In other words, instead of paying for two plans, I want to pay for one - it gives the two employees the same level of benefits. They want me to do this since it would result in no premium cost for them.
Am I allowed to do this or is this a violation of any insurance or other regulations?