Practice management

Millennials took a big financial hit during the recession, with wounds that are still fresh and unlikely to heal quickly, and a growing, under-utilized industry is hoping to build some new momentum.

Commentary: The marketing efforts of independent brokers are “woefully behind,” says consultant Wendy Keneipp, who shares tips on how to keep up with your employer clients’ changing business practices.

Employers from Starbucks to ConAgra have begun partnering directly with academic institutions to create specialized programs for their employees. It’s a new spin on an older system, as benefit managers are trying to evaluate the long-term benefits of helping to pay for their workers’ education.

Company executives are increasingly becoming involved with health care benefit decisions. Benefit advisers hoping to win, and keep, their business must tailor their tactics to the C-suite.

The Department of Labor is evaluating the use of brokerage windows in 401(k) plans and is offering employers, benefit advisers, and other stakeholders an opportunity to weigh in on the subject.

Large employers say they don’t have plans to eliminate health care coverage for active employees in 2015, although 35% say they are considering moving their active employees to a private exchange in 2016 or beyond, a recent survey finds.

Commentary: If you want to be successful at voluntary sales, columnist Nelson Griswold says you should concentrate on selling a solution, not a product — much like the Girl Scouts aim to solve your cookie craving.

Commentary: Columnist Jack Kwicien shares how to transform your business by differentiating your processes and services to achieve a sustainable competitive advantage.

Although your employer clients may consider granting employee requests for exceptions to health plan rules or limits, doing so could cause trouble down the road. Advising them to consider a plan amendment may be a better choice.

Although open enrollment for ACA plans is not set to begin until November 15, a new report estimates that nearly 7 million adults may be able to enroll through special enrollment periods.

Commentary: Benefit advisers hoping to maintain satisfied clients after the first open enrollment period should avoid these common bad behaviors that could cost accounts in the long run.

Employers are seeking help from benefit brokers and advisers as health care costs have them searching for alternatives to the current system of health care delivery.

There is no distinction between client and prospect for benefit broker Will Glaros, managing partner of the Meyers Glaros Group in Dyer, Ind. — he’s there to help them all.

Commentary: When the discussion about retirement plan costs focuses too heavily on fees, Blogger Aaron Friedman says it's up to advisers to demonstrate the value employers receive in return for the price they pay.

Commentary: How obesity is secretly hurting your employer clients’ bottom lines and what strategies you can help implement to combat it.

Online dating site eHarmony is venturing into the hiring and recruiting world with the launch of a new careers platform.

Employers and employees more than ever need the help of their trusted adviser to communicate in plain language the complexities of today’s health care landscape.

Employers say in 2015 they will continue to shift toward offering CDHPs, but many need adviser help to engage employees in better health care decisions and understand the benefits of a private exchange.

Recognizing that benefit brokers play a key role in the marketing of voluntary benefits, insurers are beginning to offer them more flexibility in the marketing process.

Commentary: Columnist and management consultant Craig Davidson discusses what your prospect wants from you now, and in the near future, in return for an agent-of-record letter.