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Making benefits that count for (Company Name). Agenda. OS. CC. Common Challenges. Our Story. VP. ES. CS. CT. Voluntary Products. Enrollment Strategy. Client Support. Closing Thoughts. Our Story. OS. Our Story. CC. ES. VP. CS. CT.

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Presentation Transcript
slide2

Agenda

OS

CC

Common

Challenges

Our Story

VP

ES

CS

CT

Voluntary Products

Enrollment

Strategy

Client

Support

Closing

Thoughts

slide3

OurStory

OS

Our Story

CC

ES

VP

CS

CT

slide4

Colonial Life is 3 companies in 1 – a single source solution for...

1

2

Benefits Communication

Services

Flexible Enrollment

Options

3

Personal Insurance

Products

OS

Our Story

CC

ES

VP

CS

CT

a rich history a promising future
A rich history. A promising future.
  • 1,100employees
  • 10,000+member agency sales organization
  • 5,300active contracted brokers

OS

Our Story

CC

ES

VP

CS

CT

an industry leader for more than 70 years
An industry leader for more than 70 years
  • #2 Overall worksite sales
  • #2 Provider of short term disability coverage
  • #2 Provider of cancer coverage
  • #3 Provider of accident coverage

According to: U.S. Worksite Sales Report. Eastbridge Consulting Group, May 2009:

OS

Our Story

CC

ES

VP

CS

CT

slide7

Common

Challenges

CC

Common

Challenges

ES

VP

CS

CT

OS

slide8

Linda Breault

Jackson, MS

Tom Kast

Syracuse, NY

Roger Pollack

Grand Rapids, MI

“My employees are always on the go. They don’t spend much time sitting at a desk.”

“We have locations all over the country and not each office has an HR person. Our satellite locations are on their own.”

“We’re in construction and most of my employees are in the field, not sitting in the office.”

“It’s so hard to inform my employees because…”

CC

Common

Challenges

ES

VP

CS

CT

OS

slide9

“Helping employees understand their benefits every year is challenging because…”

Rachel Carey

Worcester, MA

Jim Bohrer

Takoma, WA

Laura Bromley

Fort Lauderdale, FL

Melissa White

Brownsville, TX

“I don’t have enough time to answer all their questions, but I’m the only resource they’ve got.”

“I can’t communicate with my employees who don’t speak English.”

“It’s so hard to make sure everyone knows what’s changed, what’s new, when enrollment starts, when it ends…”

“We’ve got three different kinds of plans: EPOs, PPOs, and HMOs. Our employees don’t understand the difference.”

CC

Common

Challenges

ES

VP

CS

CT

OS

slide10

“Benefit administration is challenging because…”

Ellen McSpirit

Chattanooga, TN

Walter Michaels

Philadelphia, PA

Patricia Fields

Baltimore, MD

Diane Rossiter

Little Rock, AR

“We spend so much time preparing for our enrollment, but we get such low employee participation.”

“We spend lots of time chasing employees for missing enrollment forms and incomplete data.”

“We have to enter data from thousands of enrollment forms each year just to start deductions.”

“I’m an army of one!”

CC

Common

Challenges

ES

VP

CS

CT

OS

slide11

Enrollment

Strategy

CC

ES

EnrollmentStrategy

VP

CS

CT

OS

slide12

Comparing enrollment partners

EnrollmentFirm

Local benefit counselors

8.5 years average tenure of National Benefit Counselors team

Local benefit counselors support employees throughout the year

Customized new hire support

No travel costs

Multi-year, face-to-face benefits counseling

Imported enrollers from out-of-town

Enrollers change year-to-year

Little to no knowledge of employee’s since the enrollers change every year

Challenge to process new hires

High travel costs, paid per diem plus significant incentives

After first couple of years, annual enrollment typically migrates to call centers

?

?

?

OS

CC

ES

EnrollmentStrategy

VP

CS

CT

lower health plan costs with dependent verification
Lower health plan costs with dependent verification

Source: Mercer’s 2008 National Survey of Employer-Sponsored Health Plans.

CC

ES

EnrollmentStrategy

VP

CS

CT

OS

dependent verification
Dependent Verification
  • Our benefit counselors can:
  • clearly explain eligibility criteria,
  • remove ineligible dependents,
  • add newly eligible dependents, and
  • return employee’s electronic signature.

CC

ES

EnrollmentStrategy

VP

CS

CT

OS

benefit communications

Medical

Wages

Communication + Good Benefits = Lower Turnover

  • A 1-to-1 meeting with a Colonial Life benefits
  • counselor enables each employee to:
  • Personally review their current benefits.
  • Meet individual needs.
  • Consider new options.
  • Understand how those options affect their paycheck.
  • Understand and appreciate what you – the employer – contribute.

Income

Protection

Retirement

Required

Benefits

Survivor

Benefits

Benefit Communications

Catastrophic

Illness

CC

ES

EnrollmentStrategy

VP

CS

CT

OS

slide16

Supporting you every

step of the way

OS

CC

ES

EnrollmentStrategy

VP

CS

CT

slide17

Pre-Enrollment

OS

CC

ES

EnrollmentStrategy

VP

CS

CT

slide18

Enrollment

Medical

Wages

Income

Protection

Retirement

Required

Benefits

Survivor

Benefits

Catastrophic

Illness

OS

CC

ES

EnrollmentStrategy

VP

CS

CT

slide19

Post Enrollment

OS

CC

ES

EnrollmentStrategy

VP

CS

CT

slide20

Voluntary

Products

OS

CC

ES

VP

Voluntary Products

CS

CT

choices you can count on
Choices you canCount On!
  • The need for Supplemental Insurance
  • Helps fill gaps and offsets out-of-pocket expenses
  • Helps with rising costs of health care
  • Provides benefits at NO cost to employer!

Employer Benefits Package

Complete the Package

  • Medical
  • Life
  • Dental
  • 401k

Colonial Life’s Personal Insurance Products

OS

CC

ES

VP

Voluntary Products

CS

CT

slide22

Enables you to tailor coverage

for your individual needs and

helps provide financial security

for your family members.

Provides a lump-sum benefit

for a covered hospital confinement and/or a covered outpatient surgery to help offset the gaps caused by co-payments and deductibles in most major medical plans.

Helps offset the unexpected medical expenses, such as deductibles and copayments, which can results from a fracture, dislocation or other covered accidental injury.

Provides income replacement to help make ends meet if you are unable to work due to a covered injury or covered sickness.

Complements your major

medical coverage by providing a

lump-sum benefit you can use to

help pay the direct & indirect

costs related to a covered critical

illness.

Helps offset the out-of-pocket

medical & indirect non-medical

expenses related to cancer diagnosis & treatment that most medical plans may not cover. Also provides benefits for specified cancer-screening tests.

Choose from a broad range of personal insurance products

OS

CC

ES

VP

Voluntary Products

CS

CT

slide23

Client

Support

OS

CC

ES

VP

CS

Client

Support

CT

your support team
Your Support Team

Dedicated Billing Specialist

Regional Enrollment Manager

Enrollment Support Team

Territory Account Coordinator

Account Executive

OS

CC

ES

VP

CS

Client

Support

CT

administrative services

Ez-Billing – upload deduction file for bill reconciliation

  • E-Pay
  • E-Bill e-mail notification
  • Ez-Administration – routine changes
  • Dedicated billing specialist & call center
  • Free direct link to valuable human resources policies and guidelines.
  • State and federal laws and regulations.
  • Everyday language explanations.
Administrative Services

OS

CC

ES

VP

CS

Client

Support

CT

slide26

Closing

Thoughts

OS

CC

ES

VP

CS

CT

Closing

Thoughts

slide27

The Colonial Life Benefit

Complete package with full assembly

Benefits education and communication expertise to assist employee in understanding your benefits program

Insurance product solutions for employees

World class enrollment team

Best in support and client services

OS

CC

ES

VP

CS

CT

Closing

Thoughts

thank you
Thank you!

Broker Info

Dana Hollern

Territory Coordinator

702-468-7900

Dana.Hollern@ColoniaLife.com

www.colonial-benefits.com