Health insurance can be a significant expense for small businesses, but employers don’t have to forego this competitive employee benefit to save costs. Instead, they can use a medical expense reimbursement plan to bridge the gap between offering nothing or a full-fledged health care plan. MERPs also bring other advantages besides helping employers afford to […]

As an insurance producer, your pitch is most persuasive to prospects when you show them you can put together the benefits they need for their employees at the best price. Along with your expertise in finding solutions that align with their priorities, your ability to get your clients the best deals is core to your […]

Benefits play a significant role in employee stability, happiness and retention. The best benefit packages attract top talent and increase retention rates, which translates into success for the company and employees. What Benefits Should You Look for in a Job? Research shows that 82% of employees would feel a greater sense of overall stability if they understood […]

Open enrollment season is an important time of opportunities and challenges for employees. On the one hand, they can enroll in healthcare solutions that improve their well-being, job satisfaction and productivity. On the other hand, they may be intimidated and confused by the range of options and how to enroll. Nearly two-thirds of employees say their employer’s […]

Section 125 plans let employers offer employees non-taxable benefits that contribute toward healthcare expenses. These plans provide significant tax savings, so they’re beneficial to both employers and employees. They also help reduce the burden of rising healthcare costs, allowing businesses to take care of their teams’ financial, mental and physical health. Doing so can result […]

The federal government initiated several programs to address the challenges posed by the coronavirus outbreak. One of these programs was the Consolidated Omnibus Budget Reconciliation Act (COBRA) subsidy, which excluded qualified individuals from paying premiums for a specified duration. Although the program has ended, insurance brokers continue to offer valuable services to clients who have […]

The insurance industry has evolved over the years. Insurance providers and brokers must know the trends and continuously adjust operations to meet the market demands. Common strategies include adopting technology and expanding services to accommodate customer needs. While these solutions are generally helpful, brokers must implement strategies to harness their full potential. Producers who want […]

An individual coverage health reimbursement arrangement (ICHRA) is a flexible health benefits option, and it’s growing in popularity in 2024. It allows employers to reimburse employees for a portion or all of their health insurance premiums. Compared to traditional group plans, ICHRA health insurance suits employees who would prefer to choose their own health insurance […]

According to the latest statistics from the American Medical Association, each person in the U.S. spends an average of $13,493 on healthcare in 2022. That’s a significant portion of many employees’ annual salaries. Businesses that cover part of these medical expenses help encourage employee loyalty while helping staff prioritize their well-being. As a side bonus, staff members […]

Top Employee Benefits for Millennials and Gen Z Hiring top talent drives innovation, improves productivity and ultimately puts businesses ahead of the competition. By curating an appealing set of benefits, businesses are more likely to attract hard-working employees and experience these qualities within their operations. As the average cost of employee turnover equates to a third […]