Employee Benefit Adviser articles from July 2008

Employee Benefit Adviser archives from July 2008

Hope is not a strategy.
July 1, 2008... That line comes from this month's installment from Mel Schlesinger, our resident sales guru. I read that line at least three times in the week leading up to the printing of this issue. Each time it managed to hit me in the face as hard as it...

Separating self-funding fact from fiction: Here are some common misconceptions about self-funding and some facts to help you decide if this approach is right for your clients.
July 1, 2008... Fifty-five percent of the employers in the United States with more than 200 employees partially or completely self-fund their health plans. Yet despite the prevalence of self-insured plans, there is still misinformation about them. ...

PPA is no get out of jail free card' regardless what you have heard: While The Landmark legislation has done much to expand the application of the word autopilot, the law does not eliminate all employer and adviser liability surrounding the management of a qualified retirement plan.
July 1, 2008... Questions, both frequent and infrequent, abound about the Department of Labor's guidance on how advisers and employers could limit their liabilities by prudently selecting and monitoring a retirement plan's investment options. Here is a...

Future Alzheimer's epidemic puts spotlight on eldercare options: LONG TERM CARE and employee assistance plans could soon be in high demand as the number of elderly with Alzheimer's disease increases.
July 1, 2008... Testifying recently at a hearing by the Senate Special Committee on Aging, former Supreme Court Justice Sandra Day O'Conner gave the nation a glimpse into what the future may hold for employees with aging parents or spouses. In 1990,...

Selling smarter may force you to change the way you do things: You've got dozens of new products and services to take to your clients, but now the issue is whether you can execute. It might be time to find out just how well you do the day-to-day stuff and whether a business process partner may be in order.
July 1, 2008... Last month, we explored strategies for improving both client and customer retention. We discussed the development of a benefits strategic plan with your clients. We also explored the possibility of conducting client surveys and provided a...

On the road with Rob Nielsen: How do you fill your pipeline?
July 1, 2008... For most of us in the employee benefit business, if we have been around long enough, picking up the phone and dialing for dollars has at one point or another been the "prescribed" method for success. "Hit the phones." "Generate some...

Making good on the promise of superior service is a great way to make clients stick.
July 1, 2008... Many advisers will tell clients their strongest attribute is that they offer superior service. But if everyone thinks their service is the best, how does it really set an adviser apart? Delivering service excellence is a tricky concept that...

Benefits literacy as a service.
July 1, 2008... If advisers want to offer superior service, one way to start is by making sure employees understand their benefits. Employees may be functionally literate, but according to the National Institute of Medicine nearly 90 million Americans (and two...

If high quality prospects are the goal, thoughtful marketing is needed: There Are Dozens of ways to get better quality appointments, but you must know your limits as well as your objectives.
July 1, 2008... A key component to creating significant growth in your agency is a steady flow of high quality prospects. Too many benefit professionals have fewer than three appointments per month with new prospects. These benefit professionals tend to rely...

Taking off: Expectations for medical tourism continue to soar, leading many to write it off as a hype machine. Now, some early adopters are giving the movement real wings.
July 1, 2008... Morgan Armstrong had heard a lot of casual talk about medical tourism; however, discussion on the subject had been growing louder over the past six months. So, the president of Plan Benefit Services, a Columbia, South Carolina-based employee...

Accreditation Networks To Know.
July 1, 2008... When selecting a medical tourism company to partner with, advisers will want to examine what hospitals that company has in their global network. Accreditation is an important piece of the quality puzzle because advisers and their clients may...

Advisers see potential.
July 1, 2008... The majority of advisers feel medical tourism will take off, according to an EBA inBrief Burning Question survey. However, those who think the movement has promise were split on whether it had already taken off or it would take off eventually....

Language arts: New book aims to teach HR conversational finance: As benefits become more costly, CFOs become more interested. That means HR and benefits people have to brush up on the difference between a P&L statement and a balance sheet.
July 1, 2008... It is often said that knowledge is power and Joe Knight co-author of the new book Financial Intelligence for HR Professionals believes that opening up the books to workers across an organization engenders a more powerful workforce. It's a...

What every adviser should know before jumping into a CRM contract.
July 1, 2008... On June 1st I completed the Boise Ironman, a 70.3 mile triathlon which was my first individual attempt in a triathlon. It was one of the hardest things I have ever done. Given the choice I would chose another Ironman over having to repeat...

Sell it but don't overstate it - unless you want to get sued.(Employee Retirement Income Security Act of 1974)
July 1, 2008... You are an experienced adviser who makes sure employees understand their benefits. You have developed question and answer sheets, brochures and Web materials all to ensure an informed workforce. No employee will ever say, "You didn't tell me I...

The Mechanics Of CDH: The nuts and bolts of consumer driven health can be difficult to master, still it's the concepts behind the strategy that keep many benefits professionals at arms length.
July 1, 2008... There are some hard truths to swallow when analyzing the state of health care in America - like the fact that over half of health care costs are attributable to behaviors tracing back to before any care is necessary. These behaviors may be...

Employee Benefit Adviser's 2008 Broker Survey.
July 1, 2008... Sun-Tzu's The Art of War was written long before the dawn of employee benefits, but the phrase "keep your friends close and your enemies closer" still rings true in this increasingly competitive market. There is certainly much advisers can...

Clarity of vision: Group vision may be out of focus for many brokers, but Patrick Tibbs has a clear picture of how the product helps his clients and his firm keep a healthy perspective.
July 1, 2008... Costing employees just a few dollars a month for individual or family coverage undoubtedly consigns vision to the bottom of some broker's "to sell" list. There just isn't enough money in it to get all worked up about it, some say. But...

One and done?(vision benefits)
July 1, 2008... Other brokers share their thoughts on narrowing the carrier field on certain ancillary lines. We, too, only work with VSP for vision benefits. They are the 800-pound gorilla... large network, competitive pricing and brand recognition. We...