family in white smiling and happy about ancillary benefits

Beyond Health: The Ancillary Benefits Your Association Needs

We’ve all heard of Health Insurance, but it’s not uncommon to hear the term “Ancillary Benefits” in the same sentence. But while everyone is familiar with health insurance, not everyone is equally familiar with ancillary benefits. So, what exactly are they and should you be offering them to your employees?

First and foremost, while health insurance is just health insurance, ancillary benefits can be made up of a variety of different insurance and benefits offerings made available to your employees. Oftentimes, instead of listing out each and every benefit and insurance offering a company may offer, the term “ancillary” may be used instead.

Potential Ancillary Benefits Offerings

But despite the unfamiliarity of the term, the types of insurance benefit offerings it can refer to are all too common. Offerings such as Dental and Vision insurance, Term Life insurance, Long-Term Disability Insurance, LifeLock, Pet Insurance, among many others are among the most popular ancillary benefit offerings companies and associations can offer their employees.

inside of dental office with toolsDental and Vision Insurance

Providing your employees with dental insurance can benefit you as much as them. According to the Mayo Clinic, regular dental check-ups can improve an individual’s personal health and having dental insurance can help save your employees from additional costly expenses should more serious treatments be needed. As is the case with anything health related, regular check-ups are the key to catching any potential problems early and avoiding costly procedures later on.

Like dental check-ups, regular eye exams not only diagnose vision problems but can also provide early detection of serious health problems. Vision insurance is frequently offered alongside dental insurance and can be every bit as beneficial for employees to have as poor vision can result in everything from migraines, to blindness, and more.

Term-Life Insurance

Life insurance provides crucial financial protection for your family if something were to ever happen to you. An offering like this would help to give your employees peace of mind and let them know that you are looking out for their family’s financial future. It is not uncommon for Accidental Death & Dismemberment (AD&D) insurance to be included as well.

man in a wheelchair rolling down street next to carLong-Term Disability Insurance

Long-Term Disability insurance has been designed to help protect your employee’s financial well-being in the event an accident or illness occurs outside of the workplace. It is estimated that just over one in four of today’s 20-year-olds will become disabled before they retire. Long-Term Disability insurance helps your employees replace their lost income if they have an accident or illness that prevents them from working. Leading Long-Term Disability Insurance provider Guardian, can provide your employees with up to $10,000 in monthly disability coverage.

LifeLock

In today’s internet age, you can never be too careful when it comes to protecting your identity. According to the 2017 Identity Fraud Study, conducted by Javelin Strategy & Research over $16 billion was stolen from 15.4 million consumers in the U.S. in 2016—up 700 million from the previous year. With cyber criminals showing no sign of slowing down, it falls on individuals to protect their identity with smart banking practices and services offered by companies such as LifeLock.

LifeLock is a great ancillary benefit for employers to offer to their employees and is becoming arguably as important as health insurance to have.

Pet Insurance

Nothing will show your employees that you value them and their happiness more than by offering pet insurance for their four-legged friends. Just like the health costs for your employees, vet bills can be every bit as expensive. But by offering your employees pet insurance, they will be able to make sure that their pets stay as healthy as possible and be reimbursed for their vet visits via their pet insurance company.

Why Your Association Should Offer Ancillary Benefits

When benefit programs meet employees’ needs, employers enjoy a significant competitive advantage in attracting and retaining valuable employees. In addition, employees are more satisfied and become more willing to stay with your company. When you go through your association program, you get access to rate and participation concessions on Dental, Vision, Life, Disability, and more!

To see the insurance benefits we currently offer, please visit your association page www.memberbenefits.com/associations/.

How to get health coverage outside of the open enrollment period

How to get Health Coverage Outside of the Open Enrollment Period

Your Guide to Understanding Qualifying Life Events and Special Enrollment

 

Life happens, and when it does, it is very likely that your health insurance coverage may need to change. When you encounter a qualifying life event that impacts your insurance needs, it is important to know that you can take advantage of a special enrollment period – since most people are unaware that they may enroll outside of open enrollment.

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Letter From Member Benefits’ CEO Regarding Health Insurance Delays During Open Enrollment

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Dear Client,

I want to assure you that all of us at Member Benefits completely understand your concern regarding the complications and delays that are occurring in regards to your application for health insurance. I feel privileged that you have chosen Member Benefits to help you with such an important decision to choose and apply for your health coverage.

These are unprecedented times for health insurance carriers. The following will help you understand why all of the carriers are overwhelmed to various degrees:

  • Over 27,000,000 people have newly applied or changed their plans for insurance since 11/01/15.
  • One of our leading carriers informed us that they received more than 10,000 applications on 12/15/15, the deadline date to apply for a 1/1/16 effective date.
  • Several carriers dropped some of their most popular plans for 2016, causing a panic amongst insureds to secure similar coverage with other carriers.
  • Regardless of the reasons, insurance companies underwriting, billing, and issuance systems are overwhelmed with the volume and are not able to deliver approvals, policy documents, and identification cards in a reasonable manner.
  • One carrier is predicting that policies may take as long as March to be issued with a 1/1/16 effective date.
  • Some carriers are asking us to inform insureds that they might need to pay their claims “out of pocket” and request reimbursement once the policy is issued.
  • Although the carriers greatly increased their staff to handle the volume, some carriers stated that they were expecting a 40% increase in customer service needs and actually received an increase of up to 500%.

It is important to me that you know our staff is working tirelessly and is in constant contact with the carriers to expedite the processing of our clients’ applications.

Again, we are all empathetic with your very justifiable concerns. In addition, we are certain that we will be able to satisfy your needs and ultimately deliver to you the product you applied for.

Earl C. “Chip” Trefry, Jr. CLU
President/CEO

 

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