Some benefits on plans should be eliminated or enhanced to give more value to employees and stakeholders. By having them on your plan, they are subject to abuse. It is not necessarily your employees’ fault, and the practitioners are all too willing to take your benefit dollar as far as it can go. Since benefit renewals are all based on … Read More
Has Work-Life Balance Actually Increased or Decreased During the Pandemic?
Prior to Covid, things were changing in the corporate world. Many employers are starting to recognize the importance of encouraging a work-life balance among their employees. And, in today’s competitive job market, family-friendly work environments are becoming all the rage – for a good reason. But almost overnight, things almost flipped on its head Since the start of the pandemic, … Read More
Why is it Good to be Disruptive in the Employee Benefits Industry?
By definition, Disruptive means “causing or tending to cause disruption”, but in business, it generally refers to “innovative or groundbreaking”. My 15-year son being disruptive in his classroom is not encouraged, but it takes guts to be a trailblazer in the business world. Also, if you’re successful, then the masses will follow. Who Said a Tiger Can’t Change Its Stripes? … Read More
Why Marketing Your Group Benefits Plan Every Couple of Years is a Bad Idea
The traditional approach taken by most benefits consultants is to take your benefit plan out to the insurance marketplace for pricing. This, however, is a short term solution and not a sustainable practice. This is at best, a knee-jerk response to costs that are climbing out of control and doesn’t address the real issue of getting claims in hand. It also … Read More
10 Employee Benefit Plan Tips That Keep Employees and Employers Happy
10 Employee Benefit Plan Tips Usually, there is a disconnect between employers and employees as it relates to employee benefit plans. Employees want a comprehensive plan and employers need to be watchful of the bottom line. Pleasing both parties is not always easy to achieve. Here are 10 Employee Benefit Plan Tips that if incorporated into your plan, will satisfy … Read More
5 Questions Every Business Owner Needs To Ask When Selecting an Employee Benefit Company
If you’ve been tasked to investigate setting up a new employee benefit plan for your company, you will be overwhelmed by options. The process can be daunting, and the consequences can be dire. Most benefit consultants will push you towards an Insured plan, but you have options. There are many more questions to ask when implementing a benefit plan, but … Read More
How will Educating Employees on Benefit Plans Create a More Sustainable Plan?
Educating employees on benefit plans means more than just explaining what their plan includes and how to make a claim. So how will educating employees on benefit plans create a more sustainable plan? Many of my clients know how much I emphasize this point with their plan sponsors. It probably is the single most important detail in ensuring that a plan … Read More
The 11 Key Elements that an Association Benefit Plan should provide its Membership
When does an Association benefit plan make sense? In short, the answer should always be. However, this is seldom the case. Many companies have experienced that there’s a premium to work through an Association benefit plan. Many companies have experienced high administration fees, one-size-fits-all approach, limited service capabilities, ineffective regional coverage and limited supporting technology platforms. Many feel it is great … Read More
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