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Friday Networking Lunch & The Gym at El Dorado – Barbara Gates
Why offer your employees Voluntary Benefits?
Voluntary Benefits can be offered at NO cost to you, the employer!!!
Questions to Ponder:
Are your employees like most we meet with, little to no savings and living paycheck to paycheck?Are you willing to offer monetary assistance to your employees should they have an injury or illness and are unable to work?
Questions to Ponder (continued)
Have you had an employee be diagnosed with cancer, have a heart attack, stroke or major illness?
Have you had an employee or spouse pass away? Did they have life insurance?
Did you know that companies offering voluntary benefits have a lower rate of workers comp. claims?
Did you know that Voluntary Benefits have been shown to enhance employee retention as well as recruiting?
The facts and only the facts
The majority of employees we meet making $15.00 an hour or less:Live Pay Check to Pay Check.Do not have enough money in savings to pay their Health Insurance Out of Pocket cost.Do not have Life Insurance.Need to have affordable options to protect their paycheck, family and finances.
10-15% of the employees we meet with:Have health conditions that cause them to be uninsurable or high risk?
The Big Question
Is there any reason you wouldn’t be willing to offer your employees an opportunity to protect their paycheck, family and finances?
The only responsibility of you the employer, process payroll deductions and remit that premium to Allstate. Is there any reason you are not willing to payroll deduct?
If not, would you be willing to tell us why? We haven’t yet found one objection we can not overcome.
Why Allstate Benefits
#1 rated Voluntary Benefits (LIMRA 2014) Local Allstate Agent-Tina Quezada Jacobs and
Local Benefit Consultants (No – 1-800#’s when you or your employees need assistance)
Bigger, Better and Broader Benefits Special Underwriting: We will offer you and
your employees Guaranteed Issue Group Benefits and ask only 2 questions for Life and Income Protection benefits. 1. Do they have AIDS/HIV? 2. Have they been hospitalized or disabled in the past 6 months?
ABOUT US
The Allstate Corporation• Founded in 1931
• Headquarters in Northbrook, Illinois
• Currently #93 on Fortune 500
• 36,000 employees
ABOUT US
The Allstate Corporation• $130.9 billion in total assets
• Insurance products in 17 million households
• Paid more than $15 billion in property-liability claims in 2010
• Donated $28 million to non-profit organizations in 2011
• The Allstate brand is one of America’s most recognized brands
ABOUT US
The Allstate Corporation• One of America’s Most Admired
Companies
• One of 100 Best Corporate Citizens
• One of 100 Best Companies for Working Mothers
• Top 50 Company for Diversity
• Plus many more
ABOUT US
Allstate Benefits• Founded in 1956 as American Heritage Life
• Headquarters in Jacksonville, Florida
• Acquired in 1999 by Allstate Corporation
• Licensed to do business in 49 states, the District of Columbia, Puerto Rico, Guam and U.S. Virgin Islands
• American Heritage Life Insurance Company is rated A+ by A.M. Best (2012)*
*A.M. Best ratings reflect Best’s opinion of the relative financial strengths and operating performance.
ABOUT US
Our Value Proposition• Strength of corporate financials
and a recognized, trusted brand
• Comprehensive and competitive product portfolio
• Outstanding service and technology
• Customer and relationship driven
ABOUT US
PROTECTIONWe protect
three of the top 10 U.S. retailers*
* 2012 Global Powers of Retailing Report, National Retail Federation** 2011, 2010, 2009 U.S. Worksite Sales, LIMRA
BRANDA brand employees already recognize, know and trust
BENEFITSWe provide benefits for more than 40,000 employers nationwide
GROWTHFastest growing company
in the voluntary benefits market for the last
three years**
Our Competitive Advantages
ABOUT US
Making A Difference
Proud Supporter National non-profit
organization dedicated to curing cancer
Proud Supporter Get Well Program that assists cancer patients
and caregivers with resources and referrals
Proud Partners Their mission is to find a cure for
Parkinson’s Disease
Gateway for Cancer Research
American Cancer Society
Michael J. Fox Foundation
VOLUNTARY PRODUCTS
Value to Employers
Mitigates impact of health care reform with improved plan design and cost reallocation
Provides medical plan savings and “bends the
cost curve” by promoting wellness and prevention
Promotes consumerism, health care accountability and financial responsibility
among employees
Helps employee retention and engagement by providing
the financial support to pay out-of-pocket expenses
May curtail unscheduled absences and 401(k) plan
raiding to pay for unexpected medical expenses
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VOLUNTARY PRODUCTS
Value to Employees
Empowers employees to make their own health care decisions and have control of their finances
Guaranteed Issue allows employees to enroll during open enrollment without proof of good health (for many benefits)
Many benefits are not likely to be subject to income tax, however, a tax expert would need to be consulted*
Wellness programs promote early detection and prevention
Benefits are easy to understand and utilize
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*Disability benefits are taxed if paid with pre tax dollars If premiums are paid by employer or through cafeteria plan, benefits may be taxable to the extent benefits exceed incurred medical expenses
COMMUNICATIONS
Print Materials• Brochures, postcards,
posters/flyers, payroll stuffers and more
• Can be co-branded
• Can be customized to coverage, benefits and costs
• Can include QR code
ADMINISTRATION
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Billing OptionsWe offer multiple billing options to meet the needs of our clients:
Client reconciles and pays invoices online with 24/7 access to account information
Common invoice reconciliation
Client pays collected premium and Allstate Benefits is responsible for reconciling and coordinating changes through electronic update files to payroll
EasyBill Online
Paper Billing
Self Billing
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ADMINISTRATION
The Claims team is made up of dedicated, compassionate employees who strive to make customers “whole” as quickly as possible
Our Claims Team
98% of claims completed within 3-5 business days
Automated call process to notify claimants of claim receipt
Claim reimbursements electronically deposited into the customer’s checking or savings account
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ADMINISTRATION
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Our Claims Team
10% of all claims are reviewed for quality and audited for financial and statistical accuracy
Reports on the number of claims received, turnaround times and quality are provided to large clients on a quarterly or annual basis
ADMINISTRATION
The president of Allstate Benefits sends a personal
letter to all covered policyholders who are diagnosed with cancer
along with the book Chicken Soup for the
Cancer Survivor’s Soul
Personal Letter From the President
“I sincerely hope the book and your
coverage through Allstate Benefits will bring you comfort, strength and
encouragement”
ADMINISTRATION
American Cancer Society Partnership
This program provides:
Covered policyholders who are diagnosed with cancer are referred to the American Cancer Society’s Get Well Program
• Information from the American Cancer Society and National Cancer Information Center
• 24-hour, toll-free number for patient support
• Newsletter for patients and caregivers
• Access to clinical trial information • Referrals to local, regional and
national resources
ADMINISTRATION
• Express Wellness− Submit wellness benefit
claims in three easy steps
MyBenefits Website
Self-service online resource
• 24/7 customer service − Coverage and
benefits information− Claims submission and
status updates− Address changes and more
ADMINISTRATION
MyBenefits: Login Page
ADMINISTRATION
Express Wellness• Customers can submit wellness
benefit claims online
• Completely paperless; no supporting documentation needed
• This feature lives up to its name requiring only three easy steps:
1. Enter provider and treatment information
2. Provide banking information for direct deposit
3. Submit the claim and receive confirmation
Processed and in the bank within 48 hours
NOT AVAILABLE FROM ANY OTHER CARRIER
GROUP CRITICAL ILLNESS
Men have a 1 in 2 chance of
developing cancer in their lifetime; women have a 1 in 3 chance*
About every 29 seconds an
American will suffer a coronary event**
795,000 people in the U.S. will have a stroke this year, an
average of one every 53 seconds**
*American Cancer Society, Cancer Facts and Figures, 2012** Heart disease and stroke statistics—2012 update: a report from the American Heart Association.
GROUP CRITICAL ILLNESS 2
Coverage
BENEFITS
Provides a lump-sum cash benefit to help cover out-of-pocket expenses associated with a critical illness
• Advanced Alzheimer’s• Advanced Parkinson’s• Benign Brain Tumor• Coma• Complete Blindness• Complete Loss
of Hearing• Paralysis• Occupational HIV*
Initial CI
• Heart Attack• Stroke• Coronary Artery
Bypass Surgery• Major Organ
Transplant• End Stage Renal Failure• Premium Waiver
Cancer CI• Invasive Cancer• Carcinoma in situ
Supplemental CI
Second Event CI
Wellness
*Available for health occupations only
GROUP CRITICAL ILLNESS 2
• Heart attack• Stroke• Invasive Cancer• Major organ transplant• End stage renal failure• Paralysis• Benign brain tumor• Coma• Blindness*
• Loss of hearing*
• Occupational HIV**
• Coronary bypass surgery
• Advanced Alzheimer’s• Advanced Parkinson’s• Carcinoma in situ
100% PAYOUT 25% PAYOUT
*Complete loss**Available for health related occupations only
Premium WaiverPays employees premium when disabled
GROUP CRITICAL ILLNESS 2
• Guaranteed Issue* or Simplified Issue**
• Coverage from $10,000 up to $100,000• Medical coverage not required to
offer product in most states• Premiums based on age, situs state,
and tobacco use• HSA compliant• Section 125 qualified• Up to a 3-year rate guarantee**
Features
*Down to 40 employees enrolled and 200 or more lives in group**5 lives; with 5 employees enrolled
***Based on company size and participation
GROUP CRITICAL ILLNESS 2
Claim Example
Benefit Coverage Includes: Base policy benefits, Optional Second Event Initial Critical Illness Benefit and WellnessBenefit Amount: $20,000
This is an example only, and may not reflect the employee's experience.
GROUP CANCER
No one likes to think about getting cancer,
but it will affect 1 in 2 men and 1 in 3 women*
Prostate cancer is the most frequently diagnosed cancer in
men, aside from skin cancer*
Breast cancer is the most frequently
diagnosed cancer in women, aside from
skin cancer*
* Cancer Facts & Figures, American Cancer Society, 2012
GROUP CANCER 2
• Hospital Confinement• Extended Benefits• Inpatient Drugs and
Medicine• Private Duty Nursing
Services• Extended Care Facility• At Home Nursing• Hospice Care
Can help provide cash benefits for cancer and specified disease(s) and can help cover the costs of specific cancer treatments and expenses as they happen
Coverage
BENEFITSOptionalBase Benefits
• Intensive Care• Cancer Screening
Benefit
• Radiation/Chemo• Surgery• Anesthesia• Ambulance• Prosthesis• Family Member
Lodging and Transportation
• Plus more
GROUP CANCER 2
• Guaranteed Issue*
• Provides coverage for cancer, plus 20 specified diseases
• Flexible benefit options• Can be pre-packaged or custom• Pays in addition to other benefits offered• HSA Compliant• Section 125 qualified• Premiums based on group, coverage type,
situs state and benefits selected
Features
*Based on size and participation; down to 40 employees enrolled
GROUP CANCER 2
Claim Example
Benefit Coverage Includes: Base policy benefits and Optional Cancer Screening Benefit
This is an example only, and may not reflect the employee's experience.
GROUP ACCIDENT
Americans visit the emergency room
42 million times a year due to unintentional injuries*
Almost two-thirds of disabling injuries in the U.S are not work-
related and not covered by Workers’ Compensation*
*National Safety Council, Injury Facts, 2009
GROUP ACCIDENT 1
• Benefit Enhancement Provides 24 additional benefits
• Off-the-Job and On- and Off-the-Job accident disability**
• Off-the-Job and On- and Off-the-Job accident and sickness disability *
Pays cash benefits for expenses associated with an accidental injury; can help protect hard-earned savings should an on- or off-the-job accidental injury occur
*Common Carrier Accidental Death pays 5Xs the Accidental Death Benefit*Employee only
• Ambulance• Hospital Confinement• Accidental Death*
• Medical Expenses• Dislocations/Fractures• Outpatient Treatment • Intensive Care• Plus more
Base Benefits
BENEFITS
Coverage
Employee Riders
• Off-the-Job and On- and Off-the-Job accident disability
• Off-the-Job and On- and Off-the-Job accident and sickness disability
Spouse Riders
GROUP ACCIDENT 1
• Guaranteed Issue* or Simplified Issue**
• 24-hour on- and off-the-job coverage• High and low plan options• Premiums based on situs state• Premiums are not age-banded• HSA Compliant• Section 125 qualified• Pays in addition to any other benefits
Features
*Participation requirements must be met**Base plan + Accident and Sickness Riders only
GROUP ACCIDENT 1
Features
• Average annualized premium = $311*
• Accidental Death and Common-Carrier Death from Accident coverage included
• Outpatient Physician’s Treatment is paid for any reason
• Coverage effective on issue date• Benefits paid directly to insured• Coverage for employee, employee + spouse,
employee + child(ren) or entire family• Coverage is portable
*Based on Allstate Benefits reporting
GROUP ACCIDENT 1
Claim Example
Benefit Coverage Includes: Includes 2 units each of the base policy benefits and Benefit Enhancement Rider
This is an example only, and may not reflect the employee's experience.
Income Protection
How long can your employees go without a paycheck?
79% of the employees we speak with can go no longer than 14-30 days
Short Term Disability/Income Protection
• Short Term Disability allows your employees the opportunity to protect their paycheck (up to 60% of their gross wages).
• A Short Term Disabilities can be financially devastating to an employee that is not prepared.
• Benefit Consultants meet with employees one on one to customize benefits to what best fits their needs and situation.
• Packaging Short Term Disability with other voluntary benefits will allow the employee the opportunity to fill the Gaps.
• Special Underwriting.
Wellness and Out Patient Benefits:
• The Accident Policy pays an Out Patient Benefit: Pays a benefit when employee is treated by a physician outside of a hospital for any reason. This benefit can be used for Dentist, Eye Doctor, Chiropractor, cold, check up, screening and etc. due to the ”FOR ANY REASON” benefit provision. The Low Accident plan will pay 2 $50 Out Patient benefits per insured and up to 4 for family coverage. The High Accident plan will pay 2 $75 Out Patient benefits per insured and up to 4 per family per year.
• Cancer Policy pays a wellness benefit for cancer screening of $50 or $100.
Life Insurance
• 20 year term
• Special underwriting for CHINS: We only ask 2 health questions to qualify; 1. Do they have HIV/AIDS? And 2. Have they been hospitalized/disabled in past 6 months? No to both and Guaranteed Issuance regardless if they have health issues such as: Diabetes, High Blood Pressure, Heart Conditions, Past/Present health issues and/or if they have a weight issue.
• Employees can choose from $10.000 to $150,000.
• Employees can protect their spouses too, we extend this special underwriting to the employees spouse up to $100,000.
• Guaranteed convertible to our Universal Life Insurance /no health questions.
Most common objections to offering Voluntary Benefits:
• My employees cant afford benefits: This group needs the opportunity to participate more than an employee that have $$$$ in the bank. Per previous example, an employee making $20K per year ($9.62 per hour) can protect their finances and family (4 benefits) for less than 1 ½ hours of pay.
• We have tried to offer Voluntary Benefits before but no interest: We typically have 65% or more employee participation. We attribute our success to Pre-enrollment communications/education of benefits, benefit consultants customizing benefits/packages to individual needs and Bigger, Better and Broader coverage.
• I cant afford to pay for benefits: There is no cost to the employer Offering Voluntary Benefits.
• Were to busy right now: We coordinate enrollment around your schedule. There is nothing worse than having an employee have a need and no coverage due to putting off an enrollment. Recently had an employer put off enrollment and an employee passed away, he had no coverage and it was financially devastating to the family.
Ready to proceed:
• Open Enrollment: You Choose date(s) and times that is best for you and your employees.
• Pre-Enrollment communications: Payroll Stuffers, Email Blasts, Microsite Built and Enrollment Posters posted.
• Provide our Team an Employee Census if available. Download employee information in our enrollment system.
• Best case scenario: Prior to Open Enrollment Announcement our team meets with executives, supervisors and office personnel to review benefits being offered and enroll those who choose to participate.
-----Once Open Enrollment is announced: Employees will start asking questions regarding benefits. Supervisors will be prepared as they have not only seen the benefits and premiums but met with Benefit Consultant and experienced the enrollment process.
Contact List
• Forbes Consulting Group: Jeff Forbes----575-312-9613 [email protected]
• Claims: 575-312-8895 ([email protected])
• Service: 575-312-8895 ([email protected])
• Local Allstate Agency: Quezada Jacobs Family Insurance @ Allstate - 1547 S. St. Frances Drive, Santa Fe NM 87505 505-474-4033
• List of Benefit Consultants and contact information will be provided to all employees during enrollment.
