Voluntary benefits

There’s plenty of complexity when it comes to determining premiums, and brokers can help clients understand exactly what’s in their policy.

Commentary: By reframing and renaming these benefits, you can avoid any knee-jerk reaction to or bias against “voluntary benefits,” says columnist Nelson Griswold.

There are a variety of solutions available that brokers can suggest to clients who are seeking to attract and retain millennials, who often have yet to build financial savings.

Commentary: When evaluating the nonmedical space and the products with the greatest level of applicability to an employee, auto and home insurance provide significant protection, comfort and well-being to an employee and their family.

It's the “Big B, little b” conundrum. Big B benefit plans are usually subject to ERISA and require specific administration. Little B “benefits” are those perk and extras we offer to employees to be competitive in the market or to improve employee morale.

It’s not often a company finds itself in a market position where it has the flexibility and agility of a newcomer, along with a storied history that provides name recognition and a solid base of existing expertise. Global financial services giant AXA is in this sweet spot as it enters the U.S. employee benefit business for the first time.

Commentary: Additional benefits or coverages that adapt to an employer’s needs can create a niche offering that often can help employers think holistically about their employees’ financial future, says The Standard’s Breanna Scott.

In as bold a move as its strongest blend, coffee powerhouse Starbucks late Monday upped the ante to its college degree program the company first unveiled last summer.

Voluntary business is a well-known tool for brokers to increase their revenue while offering new products. But many employers are hesitant to add these products because of additional administrative burdens they can require. Enter the private health care exchange, says Carlos Ferrera, COO of Solstice Benefits and the Solstice Marketplace. With an exchange, the burden is gone, he says.

Commentary: The loyalty and bonds of the fire department can translate well into a successful insurance culture, says retired fire fighter, Colonial's Brian Summers.

Commentary: Critical considerations that make a stop-loss plan successful for clients of all sizes, according to Sun Life’s Brad Nieland.

Aflac says it will now pay out certain voluntary benefit claims in one business day, an announcement that industry experts say will likely force competitors to follow suit.

Mid-year enrollment of voluntary benefits is gaining popularity, but benefit experts caution the strategy is not right for everyone.

Commentary: True employee engagement comes from understanding the decision-making process and the broker’s critical, proactive role, says columnist Nelson Griswold.

Commentary: It’s time to start thinking outside the box and considering life insurance and fixed indexed annuities as alternative investments or sub investment classes within fixed income for retirement plans.

Everyone knows healthier employees are more productive employees, and focusing on wellness can help achieve that goal. But there are two things vital to us all missing from the equation: vision and hearing.

Year two under the ACA saw improved user experience, more choices for consumers and millions of Americans qualified for subsidies, Kevin Counihan says.

Commentary: Three common employer concerns about exchanges and how to address them.

Commentary: Agency growth is completely dependent on producer pipelines. Yet, we typically see producers struggling with one of two situations: either they have empty pipelines or ones filled with the wrong opportunities.

Commentary: Brokers who can step in and learn the business of voluntary benefits and some of the newer products hitting the market will be well-suited to bring in new clients and keep them protected against financial loss with a combination of relevant and cost-efficient solutions, says AmWINS' Sam Fleet.