Employee Benefit Adviser articles from July 2005

Employee Benefit Adviser archives from July 2005

What to expect from insurers.
July 1, 2005... How much should we blame insurance carriers for the problems employees, employers and brokers have with benefits? It seems, lately, that insurers have had more fault ascribed to them than ever for the difficulties that have become facts of...

Parsing the new FSA rollover rule.(Flexible spending accounts)
July 1, 2005... Flexible spending accounts now have rollovers!! Well, sort of. In May, the IRS issued a notice that allows sponsors to design their plans with a grace period of up to two-and-a-half months following the end of each plan year to incur...

When it Rains, it pours: Michigan firm brings in flood of clients.
July 1, 2005... On the cusp of its 10-year anniversary, the Rains Group can be said to have hit its stride. Not only has it recently added a number of large clients, including several school districts and DaimlerChrysler Insurance Co., it was named one of...

To thine own strength be true: Producers learn to balance the need to play to their strengths with the desire to branch out.
July 1, 2005... All firms have a core competency. But because there is competition in virtually every industry sweet spot, veterans say advisers must pick growth opportunities carefully in order to avoid sour experiences. It's only natural that benefit...

Advisers face trouble from differing mutual fund compensation levels: In a nutshell, while revenue-sharing arrangements between mutual funds and employee benefit advisers are still legal, they are suspect. Scrutiny could fall on retirement plan platforms that pay advisers differing amounts based on the funds in which participants invest.
July 1, 2005... Adviser compensation once again has come under fire, this time from a recent government ruling on payments associated with retirement plans. In May, the Labor Department issued an advisory opinion stating that banks, brokerages and advisory...

Learning how brokers work: First EBA survey reveals gradual spending account start, broker needs.(Employee Benefit Adviser)
July 1, 2005... Producers apparently have not swayed in their belief that consumer-driven health care will be the way of the employee health benefit world. But many of you have not had a great deal of success selling spending accounts and other products needed...

Priced to move: Advisers explain how to price a worksite benefit to sell and still turn a profit.
July 1, 2005... Pricing benefits is an extremely sensitive enterprise. This is particularly true of pricing voluntary and worksite benefits, since their success depends mainly on the needs and desires of employees with a limited amount of disposable cash. ...

Carriers that care.(Product design in Insurance sector)
July 1, 2005... Unlike their counterparts in health and individual life, group life insurers have not seen a significant increase in profits. In fact, according to LIMRA, new group life sales dropped 3% from 2003 to 2004. Some carriers believe more...

Bigger is better, says Wachovia exec.(Wachovia acquires Palmer & Cay)
July 1, 2005... Wachovia, the nation's fourth-largest bank holding company, made waves this spring when it bought insurance brokerage and benefits consulting power Palmer & Cay, increasing its insurance presence in a major portion of the country and adding...

Medicare Part D: A prescription for retiree confusion.
July 1, 2005... There is no question that Medicare Part D is a complex new benefit program that will create a great deal of excitement - and considerable confusion - for those eligible to participate. To ensure that retirees (and other Medicare-eligibles)...

Beecher Carlson moves closer to national benefits biz.(acquires with JBL&K Risk Services)
July 1, 2005... Beecher Carlson's purchase of JBL&K Risk Services marks the firm's first step towards a national benefits practice. Portland-based JBL&K, which has operated for 135 years, will add about $15 million, 35% of that employee benefits-generated,...

Moving the Needle.(merger between Beecher Carlson and JBL&K Risk Services)(Brief Article)
July 1, 2005... In this issue, Rob MacKethan, principal and founder of Agency Advisors, comments on Beecher Carlson's purchase of JBL&K Risk Services. Mr. MacKethan can be reached at rmackethan@agencyadvisors.net. Clearly the driver of this transaction was...

Dealmakers.
July 1, 2005... CBCA Administrators, a full-service national benefits management firm and health care TPA, bought Columbus, Ohio-based Bridge Benefits. Bridge's founder, Kenneth Di Bella, will join CBCA as president and COO. * USI Holdings, an insurance...

Finding an advantage with CRM technology.(Customer relationship management)
July 1, 2005... As the employee benefits broker market continues to grow more competitive, the answer to top-of-the-line prospecting, more effective marketing, and enhanced customer service lies in a technology some have tapped but few have harnessed to its...

How to assess the viability of your business.
July 1, 2005... After more than five years of coaching and speaking with several thousand benefit brokers, I have identified the biggest sales challenges that brokers today face. In this article, we will look at the top seven and address at least one...

E-newsletter.(employee health plans)
July 1, 2005... Higher co-pay plans on par with HSAs A benefit broker survey confirms producers' optimism in the face of sluggish health spending account sales. According to the Council of Insurance Agents & Brokers' semi-annual survey of benefit...

Be Advised: Solving your client's digital divide.
July 1, 2005... Nearly 20 years ago, businesses began using the Internet and Web-based applications to automate business processes that previously had been conducted manually - and at greater expense. It didn't take long for CFOs and HR executives to figure...