Practice management

Class action lawsuits claim the professional services firm breached its fiduciary duty by agreeing to the $18 billion deal.

The uninsured rate in the United States is at one of the lowest points since tracking began, and in states with state-based exchanges the uninsured rate is lower than those using the federal marketplace. But is there enough incentive for brokers to continue to play a vital role in exchange enrollment?

For a private exchange to be successful, it needs to offer a full service solution in a box, says David Holton, vice president of private exchange business development at HealthPlan Services. His Tampa, Fla.-based company’s My Consumer Link is an individual exchanges for group brokers to offer. These brokers, Holton says, don’t want to walk away from the money of the individual sales, but don’t have the time to commit to it.

As private exchange technology providers are acquired, some brokers question what happens downstream to firms they partnered with. Along with the acquisitions, some brokers are not yet seeing a return on investment from their exchange, so what are their long-term plans?

After four days of public hearings, in which dozens of participants weighed in, the Labor Department is one step closer to implementing a new fiduciary standard, the scope of which heartens supporters and troubles critics.

Employers have some decisions to make regarding coverage for spouses and domestic partners following the Obergefell ruling. If there are any modifications to a policy, it’s crucial they’re reflected in the plan document and that employees and TPAs are informed about such changes.

Commentary: As you grow and hone your craft, you should feel the privilege and obligation to limit those who get your attention, for your own benefit as well as the clients’, says columnist Wendy Keneipp.

Complete, ongoing coverage on the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisors from SoureMedia's Financial Planning, On Wall Street, Employee Benefit Advisor and Employee Benefit News.

Commentary: The broker’s dependence on the medical carriers — and their value to the broker’s business business — has about run its course, says columnist Nelson Griswold.

Despite potential savings offered, voluntary programs that provide discounts on products, services and tickets to employees are rarely used and seeing almost no growth year-over-year.

Independent insurance brokers recorded a median organic growth of nearly 6% for the second quarter of 2015, continuing a growth trend that’s been steady for the past few years.

In its first day of hearings about the proposed fiduciary rule, the DOL has heard testimony from advisers, legal experts and other industry representatives — many seeking revisions to minimize the ‘burden’ of the rule’s future implementation.

Concerns about over-regulation and accusations of industry cynicism led the opening of the Labor Department's hearings on its proposal to impose fiduciary requirements on retirement advisers — the latest phase of its contentious process to craft new rules on consumer protections.

Commentary: Brokers across the country have horror stories of Zenefits stealing their clients. So, columnist Nelson Griswold asks, what can a broker or adviser do to defend his book from Zenefits?

Brokers continue to be a vital resource for individuals enrolling in health care coverage on the marketplaces setup under the ACA, with some brokers saying in 2015 they helped more than 100 individuals enroll in health care coverage on the marketplaces.

Working in partnership with USI and GoHealth, the payroll firm’s platform will serve populations with employer-provided benefits as well as those who must purchase through public exchanges.

Commentary: More often than not, misreading customers causes them to look elsewhere. It doesn’t need to happen, says sales expert John Graham.

HSAs are growing in popularity as a health benefit offering and experts say they could save employers a lot in health care costs. But employees still need expert advice to understand how and when to use HSAs and how to maximize their full potential.

For the first time, brokers and agents will be eligible to receive continuing education credits through the training, which is required to eligible to sell on the federal marketplace.

Advisers are needed now more than ever to help individuals reach their retirement goals as employees assume the responsibility of managing their financial future.