Preferred Benefits Weblog

Preparing for Open Enrollment

Preferred Benefits — Fri, 15 Aug 2008 02:34:44 +0000

It’s August, and open enrollment is just a few months away. So no matter your role in open enrollment – an administrator or a participant – it will serve you well to be prepared! Following are a few tips to help you get through this process effectively.

Tips for HR Professionals:

Communicate – Communication with everyone in the organization is key to the success of the open enrollment process. Communicate early and often to get employees thinking about their benefit options so they can make informed decisions by the time open enrollment comes. Here are some strategies to help you get the word out to all involved:

· Meet early on with managers to fully explain all benefits, especially any changes made from last year. Depending on the size of your organization, you might also want to schedule a brief follow-up meeting with each manager one-on-one to make sure they understand all benefits and are on board with the plan. They are the ones who will likely receive the most questions from their staff, so they need to not only understand the plan options, but also understand the why’s behind any changes.

· Use many communication channels to convey your message(s). We have a dizzying array of communication vehicles these days, and while you don’t want to overload your employees with too much information, you do want to be sure to reach each employee in the communication mode most effective for him/her. Carefully plan out your communication strategy to make sure all bases are covered. (Here’s a tip: If employees receive pay check stubs in an envelope, get fun stickers printed that direct them to your web site, employee newsletter or other resources to get additional information. As the dates for open enrollment near, reflect dates and pertinent information on the stickers. This method can work with employee newsletters as well. Stickers will get noticed!)

· Keep it simple. Remember that while this is your job and you are familiar with all pertinent terminology, it is Greek to them. Explain options in easy to understand language. Also, don’t give too much detail. You can always provide options for getting more information (on a web site, etc.), but in order to avoid information overload, keep all general communication simple.

· Be honest about changes in benefits. If options have changed, explain why they have changed. Most people understand that these are tough economic times and would rather get an open, upfront explanation than a sugar-coated version

· Evaluate your system. After open enrollment, ask employees to fill out a brief evaluation. You can gain important insights into what communication worked and what didn’t. You can also learn how you can streamline the process, making it easier for your employees.

Tips for Open Enrollment Participants:

· Educate yourself on all the different plan options. It is very easy to research benefits these days and gain additional information so that you can make an informed decision about what is right for you.

· Spend time thinking about your benefits needs for the coming year. It would be valuable to take a little time to review your spending from the previous year and see what might change for the coming year.

· Ask for help if you don’t understand a particular benefit option. You will live with your benefit choices for the next year, so it’s worth the time to ask questions if you don’t understand something.

Open enrollment is a busy time for HR professionals and employees alike. With proper planning and communication, it can go smoothly for everyone involved.

At Preferred Benefits LLC we can help you prepare for open enrollment. We can also do a realistic assessment of your current insurance portfolio, making suggestions that may save you money and in other cases even expand your coverage for the money you are currently spending. Such an assessment should be done annually.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Children’s Eye Health and Safety Month

Preferred Benefits — Thu, 07 Aug 2008 02:14:40 +0000

Can you believe it’s already August? That means many of us are running around buying school clothes and supplies for our children. In addition, we’re making sure those doctor’s appointments and vision screenings are taken care of before the big first day of school.

During this busy time when we are already thinking about our children’s eye health, we can take advantage of Children’s Eye Health and Safety Month to learn more.

Prevent Blindness America reports that vision problems occur at the rate of one in 20 in preschool children and one in four in school-age children.

Several resources are available on their web site, such as:

· A list and information about Common Eye Problems in Children

· Home Eye Tests for Children which can help you determine if you child might have vision problems and require further examinations by a professional.

· A list with Signs of Possible Eye Problems in Children

· Information on preventing eye injuries

Children are such a blessing, and we certainly want to do everything we can to make sure they have the best possible vision to learn and enjoy the wonders of the world.

At Preferred Benefits LLC we can help you do a realistic assessment of your current insurance portfolio. We can make suggestions that may save you money and in other cases even expand your coverage for the money you are currently spending. Such an assessment should be done annually.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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How Can We Help You?

Preferred Benefits — Thu, 31 Jul 2008 20:43:58 +0000

We are all fairly used to hearing “how can we help you?” when we call a place of business or walk into a store. In fact, we hear it so frequently these days that we may take it for granted. So, this week we wanted to take time to thank you for being a trusted business associate, and remind you to please let us know how we can help you.

We are very proud of the fact that our business has been built on unparalleled personal service. We don’t take lightly the trust our associates place in us, and we are constantly looking for more ways to help improve benefits and lower health care costs.

We realize that your company may be struggling with issues of health and wellness or other areas of your group benefits that we could help you address effectively. Below are a few ideas of things we could help you address, and if one of these gets you thinking about something not mentioned – get in touch with us, hopefully we can help find a solution.

Educating employees about their benefits – Sadly, the majority of American workers don’t fully understand their health care plans (what is covered and how the plan works). In addition, many don’t understand the immense value in the benefits provided by their employer. We can help develop ideas for better educating your employees about the value they receive from the benefits you provide. This is always a part of our approach in the open enrollment process, but the education shouldn’t end there. You should utilize every available tool to help your employees be informed about their benefits, because in the end they will appreciate them more and will be wiser health care consumers.

Assessing your benefits package – We all realize that the health care landscape has changed dramatically in the past few years. Insurance companies are constantly updating their benefits, and sometimes it’s hard for employers to keep up. We work diligently to stay abreast of all offerings so that we can provide you with the best solutions for your needs. We recommended annual assessments of your benefits package to be sure that your needs are met in the most beneficial and cost effective way possible. Of course any time questions arise, we are always available to help as well.

Developing a healthier workforce – With the continuing increases in the cost of health care has come a greater focus on developing a healthier workforce. Many employers offer wellness plans, and others are contemplating such a step. In addition, many employees are looking for alternative medical treatments. We can help you find the right solutions to get your employees on track for better health.

Bottom line – at Preferred Benefits LLC we are here to help in whatever you might need. If something mentioned here has sparked a question or an idea, please give us a call or send an email to let us know how we can help. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Book Review

Preferred Benefits — Thu, 24 Jul 2008 02:55:19 +0000

“You are what you eat!”…How many times have we heard that, especially from our Moms when they were trying to get us to make wise food choices? Well these days it seems that many of us stay so busy that it’s hard to take time to think much about what we are eating.

A fascinating book came out earlier this year by Michael Pollan called In Defense of Food: An Eater’s Manifesto. It is a really interesting read, tracking why we are where we are nutritionally in this country and how we should rethink things a bit. So, you might be wondering, ‘where are we nutritionally?’ According to Pollan, we don’t really eat very much food anymore. Instead we are eating food-like substances, which are basically products that have been developed from “food,” but have been processed so much that they really aren’t of much (if any) real nutritional value any more.

Like any book, it’s difficult to summarize his main points in a few brief comments, so you might want to check it out for yourself. But his seven-word mantra helps give us the gist of his solution to the problem: “Eat food. Not too much. Mostly plants.” In other words, Pollan suggests that we should be eating real food, whole foods like fruits and vegetables, and that we shouldn’t eat too much. In case you think it sounds too simple, in the book you will finds lots of other great tips to help you figure out a healthy eating plan, but really when it boils down to it, remembering the mantra above is a pretty comprehensive guide.

In this blog we’ve discussed nutrition before. Many insurance companies are working hard to try to educate people about obesity in particular and eating habits in general. Why are they doing this? Because really, we are what we eat to a large extent. In the book, Pollan points out that health care costs have risen while food costs have decreased oven the last couple decades. He says we are spending about the same amount of money on food and health care combined, but that the amounts have switched. We used to spend much more on food and less on healthcare, and now we spend less on food and much more on health care. Pollan believes our eating habits are fueling many of our illnesses and leading to increased healthcare spending.

So what is a person to do? Think more about what you eat. Eating “food” doesn’t have to be more time-consuming or more expensive than eating food-like substances. It’s a matter of setting priorities and rethinking something basic that we have begun taking for granted.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Top Reasons Individuals Need Disability Insurance

Preferred Benefits — Thu, 17 Jul 2008 17:03:57 +0000

In America approximately 30 percent of people will become disabled during their working years. And as many as half of all personal bankruptcies are due to disability. With these figures in mind, it’s worth taking a look at disability insurance, which is often overlooked or misunderstood.

According to EF Moody’s disability statistics, the top five reasons for long term disability claims are as follows (source: http://www.efmoody.com/insurance/disabilitystatistics.html July 17, 2007):

· Cancer

· Complications from pregnancy

· Back

· Cardiovascular

· Depression

The top five reasons for short term disability claims are very similar and are:

· Pregnancy (normal)

· Pregnancy (complications)

· Injuries (excluding back)

· Back

· Digestive/Intestinal

Our own Valerie Reeves found herself relying on short-term disability insurance at the first of the year when a fall on the ice lead to surgery and several weeks of recovery.

Looking at the numbers

In a 2003 Social Security Administration (SSA) study there were a number of sobering statistics revealed. The SSA estimates that three in ten of today’s 20 year olds will suffer a disability before reaching the age of 67. The same study revealed that three of four individuals working in the private sector do not have any long-term disability insurance benefits.

What does this mean? With no income from sources such as disability insurance, an employee would have to rely on his or her own personal savings in addition to state and social security disability benefits. In 2006, the average monthly replacement income received from social security disability was $977.70, (source: http://www.ssa.gov/policy/docs/statcomps/di_asr/2006/index.html#highlights Sept. 12 2007), which equates to $11.732.40 a year. This amount is significantly lower than average monthly expenses. When assessing an individual’s monthly financial needs including house payment or rent, utilities, car payment, loans, etc., it becomes evident that additional sources of income are needed when a person becomes disabled.

Preferred Benefits LLC has established a relationship with American United Insurance Company® (AUL), which is offering both voluntary group long-term and short-term disability insurance coverage to eligible employers and their employees. AUL also offers both employer-paid and employee-paid group life insurance coverage. AUL’s group insurance products offer flexible solutions for an employee’s life and disability insurance needs.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Considering Long Term Care Options

Preferred Benefits — Wed, 09 Jul 2008 02:43:35 +0000

Research shows the cost of long term care in America has jumped about 25 percent since 2004. Many people prefer to care for loved ones in the home rather than a nursing home or assisted living situation, but no matter the method of care, the cost is great.

According to the Genworth Financial research findings, the expense of even just a few years in a long term care facility or the home can wipe out a family’s savings.

The average yearly costs for long term care among the main three options are as follows:

Nursing Home — $76,460 annually or $209 per day for a private room

Assisted Living Facility — $36,090 for a private, one-bedroom unit

Home Care – $43,884 per year (based on 44 hours per week of care at the average rate for a home health aide)

Nursing homes remain the most expensive option for long term care, and the average costs have risen 17 percent since 2004. Assisted living facilities have increased their rates by about 25 percent since 2004, while rates for certified home health aides have only risen by about four percent.

Of course the level of care if often dictated by the individual’s health and the extent of their needs. With the cost of healthcare continuing to increase across the board, individuals and families need to plan ahead for the cost of long term care.

At Preferred Benefits LLC we can help you explore your options for long term care insurance – either for yourself or a loved one. We can also help you do a realistic assessment of your current insurance portfolio. We can make suggestions that may save you money and in other cases even expand your coverage for the money you are currently spending. Such an assessment should be done annually.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Seven Most Common Chronic Illnesses

Preferred Benefits — Wed, 02 Jul 2008 03:43:35 +0000

Did you know…the seven most common chronic illnesses are:

· Hypertension

· Heart disease

· Lung disease

· Diabetes

· Stroke

· Mental illness

· Cancer

In reviewing this list, we see that several of these chronic illnesses could be prevented by making different lifestyle choices. For example, the incidence of hypertension, heart disease and diabetes could be greatly minimized by following nutrition guidelines and exercising regularly. Other chronic illnesses, such as lung disease and some types of cancers are directly related to activities such as smoking, unprotected sun exposure and other lifestyle choices.

We know our inherited genes play a part in our overall health and likelihood to develop certain conditions, and we can’t change those. But, we can make educated decisions about how we live our lives to try to prevent chronic illnesses. Make a commitment to your health, become informed about good lifestyle choices, then you can live and feel better.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Healthcare Spending

Preferred Benefits — Wed, 25 Jun 2008 03:09:25 +0000

Americans are spending more on health care than ever before and spending more than most other industrialized nations.

Health care costs are rising at an unsustainable rate, and for the seventh year in a row health care premiums grew more than twice as fast as prices overall and/or worker’s earnings. The U.S. national health care expenditure will double over the next decade. In 2006 total healthcare spending was $2.1 trillion, and it is expected to reach $4.1 trillion by 2016.

We have all heard these numbers tossed about by presidential candidates on both sides of the isle, but realistically we cannot depend on the government to solve the problem of huge and ever-increasing healthcare costs. What can be and must be done? We must become healthier! You may feel like that’s all we talk about in these blogs, but truly this is the only way we can combat this issue.

While a person’s health and lifestyle choices are ultimately up to him or her, companies can and do offer incentives for employees to get and stay healthy. What are you doing to improve your health? What is your company doing to develop a healthier workforce? We would appreciate the opportunity to talk with you about ways to encourage a healthier workforce.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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Oral Cancer

Preferred Benefits — Mon, 16 Jun 2008 03:33:23 +0000

Good News – many dental insurance carriers are now covering oral cancer screenings.

This is crucial because when found early, oral cancer patients have an 80 to 90% survival rate. Unfortunately, many times oral cancer is not diagnosed early, and in America one person dies every hour from oral cancer.

Risk factors for oral cancer include:

· tobacco use and high alcohol use

· human papilloma virus (HPV) 16

· a diet low in fruits and vegetables may also play a part in oral cancer

But since about 25% of people who get oral cancer don’t have the traditional risk factors (tobacco and high alcohol consumption), the next step is early detection.

A relatively inexpensive, quick and painless “brush test” is now included in many dental plans. This test uses a circular brush to gather cells from a suspicious area for further examination. This test can be performed during a routine dental exam and is now covered by many dental insurance plans.

For more information about oral cancer, risk factors, detection and treatment, visit www.oralcancerfoundation.org.

Also, check with your dental insurance provider to see if they cover the important brush screening.

At Preferred Benefits LLC we can help you do a realistic assessment of your current insurance portfolio, including dental insurance. We can make suggestions that may save you money and in other cases even expand your coverage for the money you are currently spending. Such an assessment should be done annually.

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

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National Men’s Health Week

Preferred Benefits — Wed, 11 Jun 2008 03:51:36 +0000

About a month ago we discussed Women’s Health Week. Well men this time it’s your turn, because this week is National Men’s Health Week. So ladies, you can pass this along to your father, brother, husband, son, friends and other important men in your life.

The goal for the week is to raise awareness about preventable health issues and to encourage early detection and treatment of diseases in males.

Men are constantly on the go these days, and unlike women, men are far less likely to schedule annual health check-ups. This is one of the factors leading to a shorter life expectancy in men.

The Men’s Health Week web site has lots of great information and resources. Following are some links to items that may be of interest:

· Blueprint For Men’s Health Book – this is a downloadable book providing information on health issues faced by men today. It also discusses risk factors, symptoms and prevention strategies.

· The Silent Health Crisis chart – this contains several facts and charts and gives some reasons why men’s life expectancy is shorter than that of women

· Men’s Health Facts – one page with lots of statistics

· Men’s Health Library with articles and resources on various topics

I hope this will encourage you to pay closer attention to your health and get your check-ups!

Please contact us for a FREE assessment of your insurance portfolio. This personalized customer service is a cornerstone of our business. We look forward to being of service to you.

Valerie Reeves

Leticia Dominguez

PREFERRED BENEFITS LLC

TOLL-FREE 877-302-5810

Spread the word