A SUCCESS STORY
(in 142 seconds)
THAT COULD BE
Group Insurance Navigation Experts
YOUR
SUCCESS STORY
Question
What if you could offer your entire workforce benefits..
• they could not get on their own
• guaranteed issue – no one turned away
• at no cost to the employer & affordable rates for employees
• with turnkey education and administration (minimal effort on your part)
According to the Towers Watson
2013 Survey
The percentage of employers that expect voluntary benefits to be very
important to their total rewards strategy will more than double over
the next five years jumping to 48%.
The primary reasons companies adopt these voluntary options are to
provide personalized benefits that fit employees’ needs/lifestyles and to
enrich their total reward packages.
The most popular voluntary offerings currently provided by employers
include life, long-term disability, vision, dental, accident, critical illness,
identity theft and financial counseling.
Employees Want Options
A recent success story…
Central Illinois municipality interested in providing
their employees with new benefit options. Yet they
wish to do this without adding cost to their operating
budget, while at the same time minimizing internal
administrative resources for education and enrollment.
Goals
•
Augmenting current employee benefit options
•
Utilize voluntary benefits options
•
Provide opportunity across diverse job & income levels
•
Include employee groups covered by union contracts
•
Utilize turnkey system
Central Illinois Municipality Partners with BBG
Results
• Augmenting current employee benefit options – 4 benefit options offered
•
Utilize voluntary benefits options – 4 voluntary products offered; short-term
disability, long-term disability (augments current plan), vision, term-life
•
Provide opportunity across diverse job & income levels - yes
•
Include employee groups covered by union contracts – yes
•
Utilize turnkey system – done, using proprietary GIS system provided free of charge
Highlights
Employee paid long-term disability
50%
45%
47%
40%
Firefighter 71% participation
30%
30%
20%
15%
10%
5%
Typical participation
25%
Total Municipality Participation
35%
0%
Typical (SHRM 2013 )
•
•
Municipality Success
Plan works in conjunction with employer paid 50% plan
Issue included all employee groups (including fire and police)
Police 53% participation
Highlights
Employee paid term-life insurance
90%
80%
79%
60%
Firefighter 85% participation *
3 times normal participation rate!
50%
40%
30%
20%
10%
0%
30%
Typical (SHRM 2013 )
•
•
Total Municipality Participation
Police 88% participation *
Typical participation
Nearly
70%
* Guarantee issue term-life products
are typically difficult to procure in these
professions.
Municipality Success
Guaranteed Issue up to $150,000
Issue included all employee groups (including fire and police)
Other Facts
• Interest in vision benefit was consistent with industry average of 30%
• Short-term disability numbers affected by generous employer provided sick and vacation benefits.
• Education and enrollment completed quickly and within deadline with minimal resource allocation of
municipality.
Group Insurance Navigation Experts
Barham Benefit Group (BBG)
•
Proven ability to partner with employers to provide
employees with popular top-shelf benefit options while
controlling cost.
•
Employees maintain core coverage with access to voluntary
benefits at group rates to provide for their personal and
financial needs.
•
Education and administration occur seamlessly utilizing
turnkey enrollment and administration software provided to
you at no cost.
Savings
Choice
Benefit Options Available through BBG
Traditional Core benefits (including dependent coverage options)
• Health
• Dental
• Vision
Voluntary Benefit Options (with portability options)
•
•
•
•
•
•
•
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Guaranteed Issue Term-Life Insurance
Whole Life
Long-term disability
Short-term disability
Accident
Critical Illness
Home
Auto
Identity Protection
Why Wait?
In
6
short weeks, you can
receive a FREE full benefit analysis
and
your employees
can have an improved set
of cost effective benefit choices.
Contact us today
Barham Benefit Group
919 W Kirby Ave, Champaign, Illinois