SUPPLEMENTAL INSURANCE
month for an accident plan when offered through an employer. costs for recruitment and training of new employees.
In some industries— a growing list, in fact— supplemental insurance is a“ musthave” part of the benefits package in order to attract and retain the best talent and most loyal workforce. Employees love these plans, not only because of the extra coverage but because they are less expensive when purchased through their employer. Payments are processed through the payroll department, making it very convenient for employees. Another great plus is that employees don’ t have to answer a slew of health questions to qualify; they are automatically eligible through their employer upon joining the company.
The market for supplemental insurance has changed enormously and the deals are much better today than they were several years ago. While the market back then was virtually owned by Aflac and Colonial, today there are many more players in the market, so prices and policies have become a lot more competitive. Now, most large insurance companies, including Allstate, Sun Life, Lincoln Financial, Aetna, and Principal Financial Group, all offer supplemental plans, so it’ s worthwhile for businesses to compare options to ensure that they are getting the best deal out there. This type of insurance is totally separate from health insurance, so companies can easily offer health insurance through one carrier and supplemental insurance through another.
market, it’ s a great time for those who have not done so, to reexamine their supplemental policy and consider other options. The best way to do this is to work with an independent agent, like Marcotte, that represents a wide range of carriers and policies. Our agents work with many different carriers day in and day out, so we’ re constantly comparing policies to figure out what’ s best for our clients.
By contrast, clients that work with a direct agent of an insurance company have only a narrow set of policies to choose from and may not get the best policy for their needs at the best rates. The other great thing about working with an experienced agency is that they are familiar, not only with supplemental plans, but also with health insurance policies as well as other insurance topics. An agency’ s ability to view each client’ s coverage in an integrated way helps ensure that no aspects of protection have been overlooked.
Even if your industry does not have to compete fiercely for talent, supplemental insurance is a clear“ win-win” for all involved. Small and large companies alike will benefit from offering this“ peace-ofmind” policy, so please contact us to learn more. +
In addition to providing employees with greater peace of mind, supplemental coverage also offers huge benefits to employers. First and foremost is relieving employees of the unnecessary stress that can devastate their families. Employers can worry less about the cost of offsite accidents, especially those that are misreported as having happened at the workplace rather than at home. Covered workers are likely to feel more positive toward their employer, be more productive on the job, and remain with the company long term. Lower attrition rates are a huge benefit for employers by reducing
With all the new competition in the
Neal Bierman is an Enhanced Benefits Advisor for Marcotte. He graduated from the University of Nebraska-Lincoln with a Bachelor of Science in Business
BY: NEAL BIERMAN ENHANCED BENEFITS ADVISOR MARCOTTE
Administration. Since graduating and prior to Marcotte, Neal had worked in the insurance industry for top national carriers in their sales division focusing on workers’ compensation and employee benefits. Neal’ s responsibilities at Marcotte are marketing and serving existing clients and helping potential new clients find the best solutions in the marketplace. Neal was born and raised in Omaha and enjoys going to sporting events, golfing, traveling and spending time with family and friends.
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