Is it Time to Get Rid of Accidental Death and Dismemberment Insurance?

accidental death and dismemberment insurance

Most companies have Accidental Death and Dismemberment Insurance (AD&D) on their group benefit plans but should they? This type of insurance provides benefits for injury resulting in loss or permanent and total loss of use of body parts.  It also pays out a benefit in the event of death caused by an accident on or off the job.  It’s a … Read More

Is It Time To Discover Where Your Finish Line Starts?

Where Does The Finish Line Start?

The two things the last few years has taught me is perspective and resiliency. I’ve had an interesting business career thus far.  Some elements blessed and other elements, well, not so much. To say I’m wiser for it would be an understatement. I’ve been lucky and unlucky. I’ve been fortunate to have some great successes and some pretty spectacular failures. … Read More

How To Make Your Employee Benefit Plan Go Further

Make Your Employee Benefit Plan Go Further

To understand cost containment for your employee benefit plan, you need to understand the cost breakdown of a typical plan.  The average cost of employee benefits is about $3,000 per employee per year.  Approximately 15% of that is made up of administration fees, and the rest (85%) comes from benefit claims costs.  Most insurance companies say they will save you … Read More

Why is the EP3 Drug Pool Pushing Companies Back To Insured Benefit Plans?

EP3 Drug Pool

Many companies have been introduced to ASO plans over the last few years by brokers and carriers.  ASO plans can greatly reduce administrative costs, and if a company sets up its benefits plan design can minimize a client’s exposure to unnecessary cost and abuse.  But are insurance companies deliberately trying to push clients back to insured benefit plans with the EP3 Drug … Read More

Can We Talk About Benefit Advisor Fee Transparency for a Minute?

Benefit Advisor Fee Transparency

I get it that doing the right thing doesn’t always yield you the largest compensation, but it will yield you dividends for years down the road.  In the benefits industry, the income of brokers comes largely from annuity business.  Keeping your customer happy doesn’t always mean making your windfall today.  That’s why it’s important to understand about doing the right … Read More

10 Questions to Determine if Your Employee Benefits Plan is Exposed

exposed benefit plan

Is there ever a perfect solution? Probably not in a realistic world where employers want to keep costs contained, and employees want unlimited benefits. There are ways of managing your company’s exposure, yet ensuring quality benefits are available for employees that require them.  You will want to ensure that you don’t have an exposed benefit plan. The following is a … Read More

Is Your Benefits Advisor Performing these 11 Key Roles for You?

Role of the benefit advisor

  I experienced something in the last few days that embarrassed me as a Benefits Advisor.  As much as there are many credible professionals within the benefits business, there are more than our fair share of brokers/advisors that are greedy, lazy and bring no value to their clients.  Like in any industry, there will always be a few bad eggs.  So … Read More