Employee Benefit Adviser articles from August 2008

Employee Benefit Adviser archives from August 2008

New terms for Endearment.
August 1, 2008... "Worksite" is a geographical location. "Voluntary" is, in this context, a form of payment. Both are hot-button words guaranteed to open conversations at industry events, where they seem to take on lives of their own. Do you "do" voluntary? Are...

Employers must examine extra costs tied to administering specialty drugs.
August 1, 2008... Much attention is given to the direct price of specialty drugs. But some employers are not aware of the extra costs to administer specialty drugs, which sometimes come as injections given at a doctor's office. Employers will have to become...

Southern hospitality shines through as Georgia passes HSA legislation.
August 1, 2008... It has long been held that the people and the iced tea are a little bit sweeter in the South, but previous assessments have underestimated the scope of that warmth in Georgia. That's the only theory for how the Uninsured Working Group -...

Retirement disclosure presents challenges, Opportunities: It's A Cold, Hard Egulatory World out there for advisers and there is more emphasis on disclosure than ever.
August 1, 2008... New retirement rules are in the works that would affect retirement plan advisers. With changes rolling though Congress, the Department of Labor and the Securities and Exchange Commission the question isn't "if" it's "when" changes will occur....

Employers beginning to shake off the lump-sum mentality in favor of annuities.
August 1, 2008... Behavior economics shows that when workers reach retirement, they prefer a lump-sum distribution - they want the money they earned and they want it (all of it) now. Some employers are putting the brakes on such rashness. "You take that...

Reassessing non-insurance voluntary in light of an economic downturn:.
August 1, 2008... Non-insurance voluntary products are hard to miss, they're flashy and smart, but are those qualities enough to get clients on board? Products like legal benefits and pet insurance, to name a few, have been cropping up everywhere, but a...

Rising gas prices have employers thinking hard about schedules, commuting issues.
August 1, 2008... Even employers are not immune from the nation's soaring gas prices. "This is going to be our second round with offering our employees help with gas prices," says Louis Basso, president of The Alcott Group, a New York-based HR consulting firm...

Smart, strong...and female: Yes, there are differences between men and women advisers, and that's good for everyone, says our expert panel.
August 1, 2008... Men still outnumber women in benefits advising, but that is changing. What's more, there is a belief that those talents most prized as the industry tacks towards consumer-driven health may be best modeled by the women of benefits advising....

Venus And Mars In Benefits Advising.
August 1, 2008... When it comes to benefits advising, are men from Mars and women from Venus? Prevailing "wisdom" would have it that men excel at the strategic level, whereas women are more tactical or excel at account management. Are we really from different...

Catalyzing LTC Sales: Will LTC ever take off as a product benefit advisers can mine for growth? It's a legitimate debate given recent research on how brokers view the product.
August 1, 2008... The number of benefit brokers and advisers saying they're expecting long-term care insurance sales success continues to diminish, falling from 11% in 2006 to 5% this year. Meanwhile the percentage of brokers expecting to increase their LTC...

Better business performance is at hand for advisers willing to get busy.
August 1, 2008... In our multi-part series published since the beginning of the year, we have been discussing strategies for increasing sales revenues and profits. We have commented on a fairly broad range of topics, including: prospecting, selling, enrollment...

Rebate wrangling: Texas insurance official aims to clear the air on the thorny issue.(Law overview)
August 1, 2008... The rebating issue seems to put everyone in a bind. Brokers that do it say they're just trying to justify their commissions. Brokers that don't, say they are being unlawfully run out of business. Regulators are just as likely to close their...

Changing demographics could both stifle and stimulate benefit sales.
August 1, 2008... Reading market trends and demographic changes is a surefire way to stay ahead of your competition and your annual growth plan. The problem is that it's hard, not just for benefits brokers and advisers, but also for everyone in the chain -...

HR executives hope to help employees manage their finances during a recession.(human resource)
August 1, 2008... The threat of a recession loomed before employers for some time, but they were unsure how to "recession-proof" their benefit plans and, for the most part, received little guidance on the subject from benefit advisers. Now, almost overnight,...

Addressing the ailing economy in the workplace.
August 1, 2008... "Employees are looking for increased compensation and a shorter commute. Both add cash to their pocket." - Kay Curling, VP of HR, Compensation, Benefits and HRIS at SI International "Employers have resisted giving financial advice, but...

Titanic collision atop the brokerage ranks may create room, opportunity.
August 1, 2008... Some say the Willis/HRH union will force the new entity to move further up market, revealing small and mid-market employer opportunities for the ranks of reputable independents and upstarts that could result from the mega-deal. When...

Mapping out the cost savings and the casualties.(Brief article)
August 1, 2008... Although Willis and HRH have a relatively low degree of overlap, there are a number of areas where the two appear to butt heads. This map shows the locations of Willis' and HRH's U.S. offices, according to the latest information published on...

Legal exits.
August 1, 2008... When an employer says goodbye to an employee, for whatever reason, issues can arise if that employee intends to take some clients out the door with him. Non-compete agreements can help an employer protect her accounts, but they can also be...

Virtual reality takes on benefit communication and enrollment.
August 1, 2008... Imagine having a new member of your benefits staff that you don't need to train, pay or offer benefits. She'll work 24/7 and you can be sure her messages are consistent and compliant. Sound like an alternate reality? It's virtual reality....

Turn speaking and writing gigs into good leads with a little planning.(Viewpoint essay)
August 1, 2008... Positioning yourself as the expert in benefits within your market has nothing to do with delivering great service or doing a good job at shopping health plans. There are three techniques that you can use to position yourself as the expert in...

On the road with Rob Nielsen: Think again if you're dismissing social networking.(Viewpoint essay)
August 1, 2008... This entire phenomenon of social networking, has commonly been discounted by many mature, responsible adults as at best, the exclusive dominion of 'millennials', and at worst, a passing fad and general waste of time. As I travel around the...

Focus on communication may stimulate gender parity in advising.(Viewpoint essay)
August 1, 2008... Historically, the benefits industry has been a male-dominated world. However, when it comes to communication of benefits and human resources policies, the opposite has been true. I've worked in the organizational communications practice of...

Readers share their opinions of Willis' bid to buy Hilb Rogal & Hobbs.(Brief article)
August 1, 2008... The merger of Willis/HRH may not be breaking news, but the industry reaction continues to be. Emloyee Benefit Adviser asked readers in an EBA inBrief survey about their thoughts on the new deal and the emergence of a bigger, stronger brokerage...

Errors & Omissions.(Correction notice)
August 1, 2008... Please note the following correction in the article titled, "The money and interest are there, but will employers and patients follow?" from March's EBA. Medical Travel Today is published by CPR Communication and is not affiliated with the...

Once you've read it all, get fed at the Raw Bar.(employee benefits)(Brief article)
August 1, 2008... Visit Employee Benefit Adviser's Raw Bar online at eba.podhoster.com. It's where you'll find daily interviews with leading benefits professionals. Election season is kicking off and when reporters want to know why McCain and Obama are...