How to Avoid Excess Out of Pocket Expenses Under the New ACA Rules for Individuals and Small Groups

The Affordable Care Act (ACA) has issued a new set of rules for the health care industry.  Contrary to the original messaging prior to the act becoming law, you will not necessarily be able to keep your current plan and coverage, due to the new regulations.  All plans in the small group and individual markets will now need to comply with the new regulations.  We will summarize just a few of those regulations below:

• Health plans for individuals and the small group market (<50 employees) are required to include the Essential Health Benefits (EHB), as determined by the benchmark plan within the appropriate state, providing a minimum of 10 EHB categories. While many of the categories are traditional, some of the added benefits include Rehabilitative and Habilitative services and devices, Preventative and Wellness services, Chronic disease management, and pediatric services including oral and vision care.  For all EHBs, there can be no annual or lifetime dollar limit on the benefits. 

• There are now maximum dollar limits on deductibles and out of pocket expenses that are mandated. 

• Health plans have to guarantee issue and guarantee renewability to all eligible applicants, notwithstanding health history.

• Health plans can no longer exclude care based on a pre-existing condition.

Health plans will no longer underwrite risk based on traditional criteria, such as health history, industry, gender, group size, claims history and other personal info.  In the individual and small group market, the only criteria used for underwriting will be age (3:1 ratio as opposed to a 7:1 ratio prior to 2014), geography (Where you live), plan design, and whether or not you smoke.  This form of underwriting is referred to as adjusted community rating.

The list goes on to include many detailed approaches to care and alterations to how communication and documentation is executed and maintained.  Also, several new taxes will appear on your health plan invoice as a result of the ACA.  Those too will be paid for by you.  As a result, unless you are a qualified recipient of a premium credit and/or a cost sharing subsidy, your rates will likely go up.

So, how does one navigate the new frontier without breaking the household bank?  Here are a few suggestions:

• New plans will have higher deductibles for an emergency room visit.  The deductible has changed by hundreds of dollars and also subjects the patient to deductible and coinsurance payments for expenses incurred while treating the patient.  Therefore, avoid the emergency room, unless it is an actual emergency!  There is a disincentive to utilize the emergency room for trivial purposes or for reasons that might be better treated outside of a trauma center.  This is actually part of the rationale behind the ACA, as our nation’s health expenditures were spiraling out of control as a result of too many uninsured people visiting the ER for the common cold, etc.  While that is not the “Root cause” or the sole reasoning behind the act, it certainly has contributed to the current plan design.  Here are a couple of suggestions to keep your expenses in control.

• If you have a minor injury or illness which requires medical attention, consider visiting an urgent care clinic.  Costs are typically lower than an ER visit and the personnel are qualified to care for most non-emergency situations such as, fever, earaches, minor injuries and common illnesses.

• Try to visit your primary care physician as an alternative to an ER visit.  The co-pay level is much smaller and your primary care physician can be more efficient in your treatment.

• While pharmacy benefits are included as EHBs, strategies to keep control of your drug costs will also yield savings.

• Always ask your doctor about your prescriptive medicines.  Is there a generic equivalent, which is manufactured with the same chemical composition as the brand name, although the generic equivalent is likely much less expensive (Sometimes by hundreds of dollars!).  If so, he/she can prescribe the generic medicine.  Also, ask your doctor if there is a generic alternative medicine, which is not necessarily the same chemical formulation, however, might produce equally effective results for your condition.

• Consider how you buy your prescription drugs.  Most plans have a mail order option allowing you to save money and receive a longer term supply.

 

Consider wellness as part of your lifestyle.  After all, the healthier you are, the less likely that you will require chronic care management and experience high health care costs.

One of the silver linings of the new plans is that all deductible and co-payments are now applied toward your out of pocket maximum.  Unlike in days past, your deductibles, office visit copays and ER copays were not allowed to be considered as part of your out of pocket expenses.  Now they are, therefore, while you will possibly see more out of pocket expenses in the new plans, they won’t linger for quite as long.

The ACA is anything but affordable for many people and frankly, there are likely better ways to solve the health care dilemma, for which the debate is far too long!  That said, the more you understand about how to manage your plan, the better the bite will be.

Don't be Stampeded by First Reports

 Many years ago in my early years of training and development, I often referred to a quote from General Colin Powell which goes as follows:

“Don’t be stampeded by first reports.
Don’t let your judgments run ahead of the facts.
And, even with supposed facts in hand, question them if they don’t add up.”

Seems like appropriate wisdom to use when analyzing the current climate of health care reform, commonly referred to as the Affordable Care Act or Obamacare.

Journalists representing dozens of periodicals and newspapers have taken anecdotal pieces of the legislation and sculpted their interpretation of the law, while newscasters have done much the same.  However, taking over 20,000 pages of government gobbledygook (better known as legal script) and putting it to plain speak is not an art that is regularly practiced nor understood.

Recently, you’ve likely been bombarded with reports representing both sides of the Obamacare argument.  One side, Obama’s, states that the new health care law will provide affordable care alternatives for the poor and, less accurately stated, much of the middle class.  The other side of the argument states that the legislation creates an entitlement state regarding healthcare and infringes on the basic liberties of the American people. 

Like most complicated arguments, the answer lies somewhere in the middle.  Yes, Obamacare does provide relief for many underprivileged people that otherwise would not be able to afford healthcare.  However, at what cost?  There are more than four dozen tax code implications (An estimate that errors on the low side), many of which have already been implemented and some of the most intense yet to arrive in 2014 and beyond.  Those taxes have increased the likelihood of businesses hiring fewer people, converting full-time workers to part-time workers and requiring investment of time and money to remain compliant with all of the new reporting regulations, mostly to be submitted to the IRS. The employer mandate, for which the penalties have been delayed until 2015, simply expands the problem for employers, from which the middle class derives most of its income.

Despite the challenges on the horizon, some of the provisions that have been implemented prior to 2014 are logical and somewhat tolerable to most people on both sides of the argument.  Allowing a dependent to remain on a parent’s health plan until age 26, simplified summary of benefits, acceptance of pre-existing conditions and several other items certainly make sense and bring the pendulum back to the middle regarding health insurance.  However, don’t be fooled by first reports on the overall effectiveness of the entire act. 

There are many other logical solutions to the problem of escalating health care costs.  Some states have seen tremendous reductions in costs simply by enacting tort reform; allowing doctors to practice medicine without the paranoia that they’ll be sued after applying their best efforts to diagnose and treat a patient.  That is not to say that legal remedies no longer exist, it simply denies the frivolous and unnecessary suits from invading on one’s best efforts as a physician.  Currently, millions of dollars are spent every day to run redundant tests in order to justify that, “I did everything possible,” when put on the witness stand. 

Additionally, don’t be stampeded by first reports on the level of care that you’ll receive when you anticipate low rates.  Networks are smaller and some plans might not include a doctor or hospital of your choice.  Additionally, due to increased government documentation and compliance, many physicians will close their practice.  Some have already decided to take that course of action.  Those that remain will have limited resources to treat the influx of patients; requiring longer wait times for care and scheduling for an appointment.

Remember the statement, “If you like your current health plan, you can keep your current health plan?”  That was certainly a statement that should be scrutinized under the “Don’t be stampeded by first reports” rule of thumb.  It’s simply not true in most cases.  New plan requirements have caused all in the individual and small group markets (< 50 employees) to anticipate significant plan changes in 2014.  Most plans will see an increase that is substantial based on the coverage requirements (Essential Health Benefits, etc.).

Obviously our society needed a solution to the escalating costs of healthcare.  We still have time to logically tackle that issue.  There are many unintended consequences to the current legislation.  To summarize them would almost require a book.  Therefore, based on the facts that we currently understand, perhaps now is the time to “Question them if they don’t add up,” before it’s too late.

 

Playing the Odds

Ever gambled?  Believe it or not, you do it every day.  Most of our daily wagers are calculated actions with a downside risk as a result of our propensity to avoid trouble.  Unfortunately, in this world, one cannot always avoid trouble. 

When you think about illness, injuries, accidents, storms, etc. we are not always in control.  Think about aging. Now that’ll put things into perspective when you think you’re in control. Take a look at the following statistics referring to the odds that you’ll need to be covered for a loss:

Type of Loss	Odds	Prevalence in the Market
Homeowners	1/88	Carried on Most Homes (Required by Lenders)
Auto	1/26	Carried on almost All Vehicles (State Law)
Major Medical	1/12	Very Prevalent/ More so in 2014 (PPACA)
Long-Term Disability	1/3	Much Less Prevalent (Mostly Employer Provided)
Need of Long-Term Care	1/2	Very Few people consider coverage

 

After reviewing the odds, it’s surprising that we typically don’t think about covering the issues that deliver the highest odds of potential loss.  Or, perhaps we do think about it, but, as humans, we think, “I’ll worry about that later.”  Unfortunately, later always comes with a cost.

While we are typically required to carry insurance on our largest assets, and agree with the logic to do so, we seldom think about insuring our future productivity, especially if our ability to produce was taken away.  It’s like insuring the “Golden Eggs” and neglecting to insure the “Goose” that lays them!

Additionally, we know that someday we’ll be old and potentially incapable of caring for ourselves without assistance.  It’s ok if you’re independently wealthy and can afford to pay for care in your old age, although, after years of wealth accumulation, wouldn’t it be nice to preserve that wealth for more productive purposes on behalf of your legacy?  Without wealth to see you through the later years, who will you count on for assistance?  The government will help, at least for now, and only after you’ve exhausted all other assets prior to any government assistance delivered from an approved program and facility (Ugggh!).

When gambling, sooner or later the casino wins.  The longer you gamble, the higher the odds that the house will take your money.    The game of life works in a similar manner for those who do not prepare for the future.  For those who wait too long, someone else will take your money.

Are you covered?

When people think about disability insurance (DI) coverage, most think of the worst case scenario, such as a life threatening illness or a situation that creates a major life changing event.  While that is sometimes the case, most DI situations neither relate to terminal health conditions nor end in a permanently disabled condition.

Following are the top 5 reasons for a DI claim for both short-term (13-26 weeks) and long-term disability claims.*

Short Term:

• Maternity (18.9%)
• Non-back injuries (10%)
• Complications from pregnancy (8.4%)
• Digestive disorders (8.8%)
• Back disorders (7.1%)

 

Long Term:

• Cancer (16%)
• Back problems (15.1%)
• Injuries (9.8%)
• Behavioral health (9.8%)
• Circulatory disorders (9%)

*Source: UNUM 2012 Claims Data

DI coverage could be the most efficient use of your resources as you review your total risk mitigation strategy and budget.   As you can see from the data, most DI claims are for issues that do not permanently inhibit one’s ability to work productively, once the condition is treated properly.  Additionally, having a DI policy in place can be a protective mechanism for your policies and procedures as it relates to how you handle a situation that involves time off.

For instance, assume that you did not have a DI policy in place and you have a 20 year employee who becomes seriously disabled.  Because of the relationship and years of service, you might consider compensating the person, despite the fact that the person is unable to work for an extended period of time.  Shortly after the first situation, a one year employee experiences a serious health situation that requires an absence from work for an extended period of time.  What do you do now?  Can you afford to pay both people?  Better asked, how can you afford not to, after considering the potential for a discrimination law suit if you don’t? 

Disability coverage provides multiple benefits to mitigate the risks described above.  First, it provides compensation for your employee while he/she is unable to work.  Second, assuming that you’re with the appropriate carrier, the DI policy will typically assist in getting your employee back to work more efficiently.  Third, having DI coverage actually provides a legitimate human resource policy for how you handle situations when someone becomes unable to work as a result of illness and/or injury.  This not only provides a clear path for those who need to understand what happens, but also keeps you out of court if a discrimination case enters your life as a result of handling situations inconsistently.  Finally, DI is one of the least expensive risk mitigation products available.  It’s pennies on the dollar as compared to all other forms of health coverage.  As you review your risk portfolio, make sure that disability coverage is part of the plan.  It could be one of the best strategic moves you’ve ever made.

Protecting the Family Jewels

Picture yourself on an airplane, taking a snooze on a transatlantic flight to Europe for a nice weekend.  You decide to take your wedding ring off while you apply some hand lotion and prepare for a long nap.  You place the ring in some tissue and place it on your tray.  Prior to landing, the flight attendant has cleaned the tray and your wedding ring is now basking with hundreds of pounds of trash, quite possibly never to be seen by you again.

While this story might sound a bit far flung, it’s actually based on a true story.  Now, take the story one step farther.  Let’s assume that the ring was actually insured for the $75,000 that it cost back in 2003, when it was purchased.  It now being 2013, the replacement value of the ring would be close to $150,000.  What would the insurance company pay?  If you’re an astute consumer of risk management products, then you would be right to say that you’d be insured for only $75,000 and would have to come up with an additional $75,000 to replace the ring with a comparable replacement.

Between the years 2000 and 2012, the following statistics relate to losses from covered jewelry:

41%        Theft/Deception.
52%        Mysterious Loss.
7%          Breakage/ Accumulated Damage.

So, what steps can one take to avoid such pitfalls?  The following list can be a guide for not only insuring, but mitigating the risk associated with lost or stolen jewelry and valuables.

·         Start with a proper appraisal.  Make sure that your appraisal follows the guidelines prescribed by the Uniform Standards of Professional Appraisal Practice (USPAP).  There are many appraisals that are not considered reliable by the insurance industry.

·         Individual pieces of jewelry that have a significant value should be covered on a separate collectibles policy and should be scheduled with an accompanying appraisal and picture.  Appraisals should be updated every 3-5 years, especially when commodities such as gold and platinum are increasing in value.

·         When covering your valuables, consider the following:

o   Remember to list new items on an existing policy.

o   If you travel, consider worldwide coverage.

o   Make sure that mysterious disappearance , Care custody and control coverage and repair and restoration coverage is considered.

o   In vault rates exist, so read your policy carefully to understand your custodial responsibilities.

·         If you are not an athlete, entertainer or a person who travels with many others, you could present a good “Lifestyle Risk” to the underwriter.  Therefore, make certain that you inform your consultant as to your lifestyle when it can work in your favor.

·         Employ a solid risk management program for home.

o   Guidelines for Safes:

§  Keep a secondary safe location in an obscure location, preferably bolted to the foundation of your home. (The bedroom closet safe is a good decoy, as that is typically the first place that an intruder will go to seek out your valuables.

§  Change the combination frequently.

§  Connect the safe to your alarm.

§  Insure that the fire rating (UL rating of 2 hours or more) and that the sides are rated for tool and torch.

o   Avoid shipping your jewels via a common carrier.  Most jewelry stores and high end merchants will provide a courier service, when absolutely necessary.

·         Employ a solid risk management program while travelling.

o   Store your jewelry in the hotel safe or deposit box.

o   Keep jewelry in a plain case or bag that does not identify the contents as being valuable.

o   Wear or keep your jewelry on your person.

o   Create simple rituals for protection (Don’t become casual with where you place your jewelry while bathing, sleeping, showering, etc.)

In summary, review your coverage and values regularly.  An updated appraisal should occur approximately every 5 years.  Make sure your safe is appropriate for storing your jewelry.  Use the common sense approach to safeguarding your valuables at home and while travelling to avoid becoming part of the statistics.

Are you practicing your free throws?

It’s that time of year, when March Madness is on the horizon and the basketball season is in full swing. How many times have you witnessed a game won or lost because of a made, or missed, free throw? It’s amazing how important one of the easiest shots of the game can be and, how difficult the shot can be for so many good players.

The same can be said about managing your health care. There are many easy things you can do to insure that your health is managed properly and to assist in keeping the cost of your health care in check. Unfortunately, just like free throws, not all of us are practicing these habits as frequently as we should. Following are some simple suggestions:

· Plan to have your annual physical on a regular cycle, just like you plan other recurring events in your life. An annual physical will keep you well informed and assist you in preventing disease.

· Have your teeth cleaned at least twice per year. It is a fact that good oral hygiene can lead to a healthier physical life. Poor hygiene has been linked to many health problems and diseases.

· Have your eyes checked regularly. An eye exam not only assists you in managing better vision, it also acts as an early detection mechanism for other conditions such as, glaucoma, diabetes and hypertension, all of which can be easily managed with early detection.

· Take advantage of your wellness program. Many health insurance companies provide a wellness component as part of your health benefits. If you have a plan that has a wellness benefit, learn how to exploit the positive effects of the program. Some companies even provide discounts and awards for exercising regularly and for having your biometrics screened once per year, at no additional cost to you.

Finally, think like a manager when it comes to your health. Just like everything else that you manage, if you don’t pay attention to it, it typically deteriorates.

So, if you want to win your game, start practicing your free throws. It’s the easy shot!

Give Spin Class a Try!

Indoor cycling is a fun activity to do year round that has great benefits for the body and mind. While most gyms offer spin classes, there are also a number of stand-alone spin studios popping up in the Chicago area. This high-intensity workout attracts both novice and experienced spinners, and can serve to break the monotony of your typical workout routine.

 

There are lots of reasons fitness enthusiasts (and fitness rookies!) have made spin part of a healthy lifestyle:

 

1. Burn Calories - A cycling class is a great way to burn lots of calories in a short amount of time.



2. Relieve Stress – The rush of endorphins will leave you feeling reenergized and accomplished. 



3. Motivating – It’s common that spin classes last 45 – 60 minutes which is manageable to fit in most people’s schedules.  Classes are set to upbeat music and you’re able to set your own pace or follow along with the instructor.  Group settings also can bring out a competitive streak that makes some students work even harder than if they were to cycle on their own.



4. No Experience Necessary – You don’t have to be an expert biker to start spinning. It’s a low impact workout



5. Heart Health – Spin, just like any intense cardio, is excellent for the heart.  This helps reduce your risk for heart disease and

In a fitness rut? Concerned about bikini season? Spin class might be the workout that changes your outlook on exercise and your self-esteem.

 

The Importance of Vitamin D

It has been estimated that 1 in every 3 Americans is Vitamin D deficient.  Vitamin D is something both men and women should be concerned about, as it has a correlation with bone health, multiple sclerosis, certain cancers and it can boost the immunity of an expectant mother. A simple blood test would be able to show what levels you are at.

 

Vitamin D is essential in helping the body use calcium from your diet properly. Don’t be fooled by the outdated notion that the best and only source of this vitamin is through fortified milk. Other great sources of vitamin D include mushrooms, certain varieties of fish (catfish, salmon, mackerel, sardine, tuna, eel), eggs, and alfalfa. And of course, the exposure to sunlight is a natural source of Vitamin D consumption. That is why it is especially important to be mindful of your consumption during the dark, winter season.

 

A Vitamin D supplement is the easiest way to add it to your daily routine. Many supplements offer the benefits of both calcium and vitamin D. Women shouldn’t wait until they are nearing old age to take a supplement of D and calcium or to augment their diets to include more of this vitamin. The benefits of these vitamins may be less consequential in postmenopausal women.

 

Take a quick audit of your current diet and assess your vitamin D intake; there may be room to improve!

The Benefits of Chia Seeds

When people hear the word chia they think of the popular 1990’s Chia Pet – not the popular super food that it is considered today.  Chia is a seed that comes from the desert plant Salvia hispanica and is native to Mexico and Central America.  These seeds are a nutritious food source with many health benefits.

 

There are a few reasons why the health-conscious are jumping on the chia seed bandwagon:

 

1. Allergen Free – The seeds are all natural and plant based making them nut, soy and gluten free.

 

2. Stabilizing Weight – The high fiber content (4 grams per one tablespoon) will make you feel fuller faster and it is easily digestable.  Not only is fiber important for weight loss, but so is protein. The protein in chia seeds includes all 8 of the essential amino acids.

3. Increased Energy – The seeds are low on the glycemic index. Because the seeds are said to aid in stabilizing blood sugar (high in protein and fiber) they could help prevent a crash like you would have with caffeine or sugar.

 

In addition, chia seeds are an excellent source of Omega-3 fatty acid, which gives you another great option for consuming this important essential fatty acid.   

 

It’s easy to incorporate chia seeds into your diet by adding 1 - 2 tablespoons to smoothies, oatmeal, yogurt, salads or in baked goods. Don’t worry about making a special trip to a health food store for this popular superfood; brands commonly stocked in grocery stores, such as Bob’s Red Mill, manufacture the seeds. Trader Joe’s carries a 5.3 ounce chia seed package for only $4.99.

 

Consider making chia seeds a part of your healthy diet.

Why My Health Insurance Premium Is Going Up!

With the passage of the Affordable Care Act, You might be wondering why health insurance companies are projecting that premiums will actually increase as a result of the act.  After all of the blabber in Washington about how great the act is for affordability, here is some detail to assist you in understanding what’s really happening.

In order to comply with the requirements issued by HHS, individual and small group plans (those with less than 50 FTEs) must adhere to the following:

·         All plans must cover the ten categories of Essential Health Benefits (EHBs):

o   Ambulatory Patient Services

o   Emergency Services

o   Hospitalization

o   Maternity and Newborn Care

o   Mental Health & Substance Abuse

o   Prescription Drugs

o   Rehabilitative & Habilitative Services/Devices

o   Lab Services

o   Preventative/Wellness Services & Chronic Disease Management

o   Pediatric Services Including Oral & Vision Care

·         Cost sharing for the aforementioned services must accumulate to the out of pocket maximum (Including copays) and no limits apply to coverage for EHBs.

·         Underwriting will no longer involve criteria that previously defined risk, such as gender, health status, group size, claims history, medical underwriting and industry.  Small groups and individuals will now only be evaluated based on geographic area, age (with a 3:1 maximum ratio), and tobacco use. This is referred to as an Adjusted Community Rating system of underwriting which will result in older people paying less and younger healthier people paying more for health insurance.

All plans (Notwithstanding the size) are subject to the following requirements:

·         No exclusions for preexisting conditions.

·         Guarantee issue and renewability (Self-Funded and Grandfathered plans excluded).

·         Expanded women’s health care coverage requirements.

·         Participation in the following taxes and fees:

o   PCORI Research Fee:

§  Known as the Patient Centered Outcomes Research Institute Fee, fully insured and self- insured plans will contribute $1 in 2013 and $2 in 2014-2019 (Indexed for inflation in 2015-2019). This fee is per member per year and is rolled into the premium.

o   Insurer Fee:

§  This fee is collected from health insurance providers based on net written premiums for fully insured groups.  The fee is paid annually and is a permanent levy on insurance companies.  In 2014, the fee is projected to amount to $8 Billion while it will grow to more than $14 Billion by 2018.  It is projected to be approximately 2.3% of premiums.

o   Transitional Reinsurance Fee:

§  This fee is projected to be between $5-$6 per covered life and will be levied annually between 2014 and 2016.  It is designed to distribute funds to insurers in the non-grandfathered individual market who have attracted a disproportionately larger share of high medical costs.

o   Risk Adjustment Fee:

§  This fee is a zero sum redistribution of premiums from plans that have a low risk population to those that have a higher risk population. The fee amounts to $1 per member per year for individual and small group (non-grandfathered) plans and begins in 2014.

While many of the stipulations required under the ACA are intended to improve the quality of health care, nothing that good can be free.  Sooner or later, we all pay.  There are approximately 47 new taxes affiliated with the Patient Protection and Affordable Care Act (PPACA).  We have only highlighted a few of them that directly affect health care premiums directly in this summary.   Indeed, another well intended election campaign message has flopped in its attempt to solve a bigger problem.

So who benefits?  Those that fall between 133% and 400% of the poverty level will be potentially eligible for a premium subsidy when acquiring a plan through an exchange.  That subsidy can be generous and, as a result, the rest of us will pay through the fees indicated above and through the many other taxes that the Act has levied.

Have You Volunteered For Coverage?

Voluntary benefits, sometimes referred to as Worksite benefits, have been around for many years.  They benefit the employer by enhancing the portfolio of benefits that it provides for employees.  They benefit the employee by providing an affordable portfolio of protection that would not otherwise be available.  Therefore, voluntary benefits provide a win-win from an employee/employer relationship perspective.

Examples of voluntary benefits include Critical Illness Insurance, Cancer Insurance (Sometimes combined with Critical Illness), Accident Insurance, Long-Term Care Insurance, Disability Income Protection, Life Insurance and more.  Sometimes, voluntary benefits are used to enhance existing coverage, especially when the existing (primary) coverage does not adequately indemnify an employee for the expense or loss.  Voluntary benefits are typically portable, thereby allowing a departing employee to continue coverage even after employment has terminated.

There are several alternatives for making voluntary benefits available to employees. One approach allows a sales representative from a specific insurance company access to individual employees on an ongoing basis.  In this approach, the employees make the decision to discuss the applicable benefits on an individual basis with an insurance company representative.  While these discussions frequently occur on company time, the company is not involved in any of the process.  Additionally, due to the competitive nature of the world that we live in, many times, the Human Resource Manager is hounded by these representatives for access to the employees. 

An alternative approach, and one that is reinforced by many successful organizations, involves a careful analysis of voluntary benefit offerings, based upon the specific needs and wants of the employee population and in coordination with the type of coverage already in place.  It involves a strategic meeting between the company management and the Benefits Specialist to determine what type of coverage is necessary and appropriate.  The Benefits Specialist has the capability of accessing many different products across many companies.  Additionally, in this approach, the company controls the conversation with its employees and enhances the overall portfolio of benefits provided to employees. This assists in recruiting, retaining and satisfying employees, while still providing freedom of choice for the employee.

Have you considered the power of voluntary benefits?