Consolidated HR is a full-service, nationwide human resources outsourcing firm specializing in payroll, employee benefits, and more. “We work with a variety of different firms, ranging from small family ran businesses, to larger multi-state companies,” says CHR Benefits Supervisor Delores M. Torres. “We help our clients focus on growing their businesses while we help with back-end HR, payroll, and benefits.”
DBL Center has been providing the short-term disability policies for CHR clients in New York and New Jersey for many years.
When Torres connected with DBL Center’s Vice President of Ancillary Sales Lori S. Rose, they decided it was time to explore ways to provide CHR clients with even more value by offering Group Life insurance and other ancillary lines of coverage.
DBL Center started by moving CHR’s existing group life insurance lines to another carrier to provide better benefits and lower premiums.
Working with DBL Center gave CHR access to lines and pricing the HR outsourcing company may not have gotten on its own and helped ensure all the paperwork was in compliance. Access to DBL Center’s exclusive Broker Dashboard can help CHR track policy renewals and revenue moving forward.
The next step was reviewing CHR’s open enrollment files to give CHR clients a chance to opt in to these voluntary, employee-funded benefits.
DBL Center’s legendary service and support helped Torres tackle an arduous task.
“The support and follow-up from Lori Rose has been phenomenal,” Torres says. “She has really helped reduce my stress. With it being the end of the year and such a busy time for everyone, she’s been so understanding.”
Group Life insurance may be a hard sell, so it’s important for brokers to convey to employers that these benefits can be offered at no cost to the company.
“Our clients tend to downplay the ancillary lines,” Torres says. “We have to explain that they can make it available to their employees with no out-of-pocket costs to the company.”
It helps to emphasize that voluntary benefits like Group Life can aid in recruiting and retention, especially for companies looking to attract the next generations of talent.
“Employees in their mid-30s and younger are more open to exploring what else is available in the way of employee benefits and they want the extra lines of coverage,” Torres observes.
Torres’ assertion corresponds with a recent Pew Research study that shows millennials to be the most risk-averse generation since The Great Depression. As millennials finally start paying off their college loans, getting married, and buying houses, purchasing life insurance is a smart, low-risk step to ensure their family’s security if something should happen to them. Other ancillary lines of coverage, such as dental and vision, can help them save money on day-to-day or emergency expenses.
Likewise, Generation X employees can benefit from life insurance investments as they age and have more responsibilities, including a mortgage, college costs for their children, and even the expense of caring for aging parents.
“The follow-up we have to do to show our clients the importance of ancillary benefits can be overwhelming,” Torres says. “But DBL Center understands the hurdles we have to overcome and is always there to help with information and back-office support.”
In the end, it’s worth the effort.
Group Life insurance and ancillary benefits can help brokers and HR firms like Consolidated HR expand their book-of-business while helping their clients’ employees secure a better financial future for their families.
by Dawn Allcot
Give your employees the benefits they need most with vision insurance.
Vision insurance remains an unsung hero in the world of employee benefits. Although more than 50 percent of the U.S. population requires corrective lenses, and 80 percent of the population over 45, employees don’t look for vision care coverage the way they do dental insurance. In a recent study, 53 percent of employees say they want vision insurance, while 68 percent want dental coverage. Employees are more inclined to use their flexible spending account to pay for corrective lenses – often taking advantage of end-of-year sales reminding people to use their FSA dollars or Healthcare Savings Account (HSA) money before it expires. But vision coverage can represent a far greater value to many employees when bundled as part of their ancillary group benefits package.
Most people think of their vision insurance as a means to pay for their glasses or contact lenses. But annual eye exams are an important part of a person’s overall health. Not only can detecting vision problems early help preserve a person’s vision, the eyes may also indicate signs of other health problems that require a doctor’s care.
Therefore, vision coverage should be part of any workplace that focuses on employee health and fitness to reduce healthcare costs, reduce employee sick time, and improve productivity.
Blood in the back of the eye, which may be detected by an ophthalmologist during a routine annual eye exam, is one of the first signs of diabetes. Additionally, eye exams can reveal conditions such as brain tumors, skin cancer, high cholesterol, high blood pressure, and other ailments, large and small, before they are spotted by a physician.
Just like regular dentist visits, a visit to an eye doctor should be part of every employee’s annual health routine. Vision insurance makes it easy for employees to pay for the vision care they need, without taking money away from other areas.
Using flex spending or a healthcare savings plan to pay for vision care means that employees might have to choose between using that money to pay for prescription medicine, doctor’s visit co-pays, or vision care. Offering vision coverage as part of an ancillary benefits package helps ensure employees will invest in that important annual eye doctor visit.
As far as insurance premiums go, vision coverage is one of the most cost-effective health care benefits. The Federal Bureau of Labor Statistics states that vision benefit premiums come to about $70 to $80 annually, per employee, while healthcare premiums average $4,256 annually.
Not only is preventative vision care affordable in its own right, but it can help reduce overall healthcare costs through early detection of other diseases.
By bundling vision coverage with other ancillary group benefits, such as dental coverage, enriched DBL, and Group Life / AD&D, employers can save even more on monthly premiums.
However, vision coverage is only effective if employees use it to get the most out of their vision care. Many employees don’t realize the services their vision insurance covers, or only use it for corrective lenses every two years.
Choosing the right insurance broker to educate you on every aspect of your group benefits plan and provide white-glove service in every situation can help you and your employees get the most out of your vision insurance and other benefits.
Let The DBL Center connect you with the best in ancillary group benefits for better employee health.
by Michael Cohen