Voluntary benefits

As more companies embrace consumer-driven health care models and prepare for the full implementation of health care reform, employees need voluntary benefits more than ever. This chart pack includes the latest data on voluntary benefits from the Aflac WorkForces Report and UBA’s Ancillary Products Survey.

FSA usage should be encouraged throughout the year. Budgeting is easy when using an FSA calculator before opting into the plan to help participants estimate their yearly expenses. And a broker's role when communicating to clients about better FSA budgeting should entail having multiple communications throughout the year.

MetLife Inc. said it would combine an offshore reinsurer with three U.S. life units after regulators began an investigation into the use of intra-company liability transfers, saying such arrangements could mask risk.

The California Bankers Association recently announced a long-term care benefit for employees of member banks throughout the state. The initiative is one of the first of its kind for any large U.S. association, and could be a bellwether for the financial field and beyond.

When helping employees with end-of-life decisions for their loved ones, brokers say offering choices and information is key.

Private disability insurance DI is more successful than public at getting people back to work, but millions remain uninsured so what lies ahead.

This formerly discounted, underinsured and underpenetrated generation now presents a larger sales opportunity than boomers.

As brokers continue to search for voluntary benefits to supplement their sales in the coming years, legal plans might just be one of them.

There may be a slightly silver lining to the murky clouds of health care reform: ancillary benefits, which often include voluntary benefits, are expected to grow substantially in the coming years. Advisers may do well to leverage these offerings with clients, says EBA Blogger and UBA CEO Thom Mangan.

A cap that President Barack Obama has proposed on the size of tax-advantaged retirement accounts is seen as potentially pushing savers to another product that limits payments to the government: life insurance.

In a move to boost its voluntary business, Sun Life partners with the NBA, offering employers and brokers the chance to mingle with players at charity events.

Tom Rieskse Jr. offers employers advice about what to look for when considering one of the newer multilife long-term care insurance offerings.

MetLife poll reveals employers view voluntary legal plans as easy to handle and can improve employee satisfaction.

Two new insurance products aim to raise employee awareness about retirement planning and disability.

The efforts of Maurice Evans, director of HR at Integral Group, lead to higher enrollment in the company’s voluntary vision plan.

In recent years, voluntary benefits have risen from a nice-to-have for employees to something that is quickly becoming crucial. Doug Mantz looks back at the evolution of voluntary benefits through the lens of one long-time client.

“Now is the time to buy before gender rating kicks in and before the best inflation option [5%, compounded for life] becomes unaffordable or goes away,” says one expert.

The emerging private HIX model for active employee populations will learn valuable lessons about how this approach has been applied to the retiree marketplace in recent years. One issue worth closer examination involves the prospect of hosting an off-cycle benefits enrollment.

A brokers’ role with end of life products is to know their clients and give them choices.

Craig Davidson on three good reasons to think about selling voluntary.