1 / 14

Insight. Answers. Understanding.

2010 MFA Voluntary Benefits Webinar Special Benefits Available to MFA Member Firms January 26, 2010 We will begin at 10:00am Eastern Call in Number is 1-888-441-7987 Participant Code is 1742752#. Insight. Answers. Understanding. Longfellow Benefits.

EllenMixel
Download Presentation

Insight. Answers. Understanding.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2010 MFA Voluntary Benefits Webinar Special Benefits Available to MFA Member Firms January 26, 2010 We will begin at 10:00am Eastern Call in Number is 1-888-441-7987 Participant Code is 1742752# Insight. Answers. Understanding.

  2. Longfellow Benefits Providing solutions for the delivery of voluntary products Presented by: Patrick J. Haraden – Senior Vice President, Longfellow Benefits Brian W. Drake – Regional Sales Manager, Allstate Workplace Division Insight. Answers. Understanding.

  3. Agenda • Carrier Selection Process • MFA Member Benefits • Product Delivery Opportunities • Wellness Benefits • Employer Considerations • Resources • Questions and Answers

  4. Carrier Selection Process • MFA member survey • Meetings with several vendors based on responses • Criteria for selection • MFA benefits • Product portfolio • Commitment to partnership • Association experience

  5. Allstate Workplace Division • Competitive underwriting offer to MFA • One of America’s most recognized brands • 1 in 8 homes currently have an Allstate product • Rated A+ AM Best, AA Standard & Poor’s, A2 Moody’s • Product portfolio designed to compliment core benefits through benefit consultants • Association experience

  6. MFA Member Benefits Guarantee Issue Products for Members 200 + • Employee must be actively at work • Only 15% aggregate participation required (standard is 25% per line) • Group Products Available • Group Critical Illness • Group Accident • Group Cancer and Specified Disease

  7. MFA Member Benefits Contingent Guarantee Issue for all Groups (2+) • 3 questions: • Actively At Work? • Aids / HIV Related? • Hospitalized or Disabled in the past 6 months? • Products available: • Life Insurance – up to $150,000 • STD up to $5,000 for groups 50 and above • STD up to $3,000 for groups under 50 ($5,000 can be obtained with additional questions) • Contingent Guarantee Issue is typically available to groups 50 lives and above

  8. Product Delivery • Traditional 1 on 1 • Available off annual enrollment • Core Benefit Communications Assistance • Online Core Benefit Enrollments • Allow for all employees to have the same benefit experience • Voluntary products are enrolled without the need of an agent • Deliver an efficient model for all future enrollments and new hires • Provide these systems at “no cost” • Wal-Mart Case Study

  9. Wellness Incent Current Wellness Using Voluntary Products • Current wellness programs may qualify for $100 reimbursement from voluntary products • Use this as leverage to drive participation in your wellness program

  10. Wellness - Lifestrive Implement a full blown Wellness program • The $100 inside of the products is assigned to Lifestrive to provide each individual an executive health profile each year • The results are not reported to any third parties! • Employers receive the aggregate reporting • The program includes a thorough online curriculum tailored to the individual’s health situation • It’s your tool to say, “Being healthy can make you rich.”

  11. LifeStrive®Step 1: Engage Via Comprehensive Objective Personal Data LifeStrive® Comprehensive Wellness Panel 50 individual tests provide thorough biochemical assessment Lipid panel (cholesterol, HDL, LDL, the risk ratio, triglycerides)Complete Blood Count (CBC) (WBC, RBC, Platelets, Hct, Hgb)Fluids and ElectrolytesThyroid Panel w/TSHLiver Enzyme PanelKidney PanelGlucose (Diabetes)Complete Mineral Profile • Market Value of lab testing and reporting alone exceeds $500 • Lab testing is only the start of the health promotion process with LifeStrive

  12. LifeStrive® - 2010GroupAggregate Analysis & Reporting

  13. Employer Considerations • Will complement current employee benefits offering • Does not impact current broker/consultant relationship • Initial meeting to review products/strategy • Employer responsibilities • Payroll deductions • Bill payment • Enrollment transactions • Communication (shared with Allstate)

  14. Resources Patrick J. Haraden, CEBS, REBC, CLU, ChFC, RHU, MBA, LIASenior Vice President, Employee Benefit ServicesLongfellow Benefits(617) 351-6054pharaden@longfellowbenefits.com Brian W. Drake, MBARegion Sales ManagerAllstate Workplace Division(617) 276-6060brian.w.drake@allstate.com

More Related