Key Points: Employers should make sure that their leave policies are consistent with applicable laws and are administered correctly. In some circumstances, more than one type of leave law may apply to an employee’s request for time off. In these situations, the employer should generally comply with the leave rule that is most favorable or generous to the employee. Also, where possible, employers should consider running different types of employee leaves concurrently to minimize an employee’s leave entitlement.

Pregnancy among people in their 30s and 40s is on the rise, and thankfully, same-sex couples are able to speak more openly about their intentions to build their families. There’s more of a need for alternative family-planning support.

– Dr. Jenny Carrillo, president of Ovia

The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal law that provides for the temporary extension of employer-sponsored group health coverage for employees and their family members (qualified beneficiaries) in certain situations. COBRA coverage is available when qualifying events occur, such as termination of employment or divorce.

Due to the complexities of the law and potentially serious consequences for mistakes or violations, many employers outsource COBRA administration to a third party administrator (TPA).

Reasons to Outsource COBRA Administration

COBRA’s complex rules and requirements, mandatory notices and multiple deadlines can be difficult to follow and administer, whether you are a large company and have many qualifying events to keep track of, or you are a small organization that rarely has to deal with COBRA. Here’s why many companies outsource COBRA administration and why you might consider finding a TPA to handle your COBRA obligations:

• It’s complicated. COBRA typically applies to employers with 20 or more employees, although how that number of employees is defined can be complicated if you have fluctuations of employee numbers throughout the year or numerous part-time employees. If your company is subject to COBRA, understanding and keeping track of the various requirements can be difficult. You will need to correctly administer things like required notices, election and payment deadlines, late and partial payments, different coverage periods, changes to plan options, address changes and terminations of coverage.
• It can be costly. Both the Internal Revenue Service (IRS) and U.S. Department of Labor (DOL) oversee COBRA-related laws. Both the IRS and DOL can levy fines and taxes, including fines of $110 per day just for the failure to properly issue COBRA notices and requested documents. The risk of missing a deadline for a notice or disclosure is high, especially if you don’t deal with COBRA frequently. In addition, you run the risk of individuals suing you for COBRA mistakes. Employers that do not administer COBRA coverage correctly can also be held responsible for paying individual health claims for qualified beneficiaries.
• It’s time-consuming. The knowledge and expertise needed to properly administer COBRA requires extensive training. Combined with the time expended by internal HR employees to actually administer COBRA, the amount of training necessary is often disproportionate to the number of qualifying events. COBRA administration can be stressful and time-consuming, and dealing with COBRA in-house is often an inefficient use of HR’s time and resources. On the other hand, if your company experiences high employee turnover or numerous qualifying events, you could be overwhelmed by the amount of work required by COBRA, taking away valuable time from other essential duties.

Due to the complexity of COBRA, the high risk of fines, taxes and lawsuits, and the inefficient use of HR’s time and effort, COBRA administration is a prime candidate for outsourcing.

Considerations When Choosing a COBRA Administrator

If you do choose to outsource COBRA administration to a TPA, you will want to consider a few qualities as you choose a TPA.

Compliance expertise. COBRA compliance depends on the prompt implementation of federal guidelines and regulations that stipulate what needs to be done and when it must be completed. Check that your TPA is well-respected for its expertise, follows written procedures and includes independent monitoring to ensure full compliance with COBRA regulations.

Technological advancement. Generally, you will want to find an organization that is well-equipped with technology to handle on-time electronic delivery of all the required notices and letters. A good technological system will streamline the COBRA compliance process and provide proof that all deadlines were met. In addition, the system should be secure and encrypted to protect the privacy of information.

Customer service competence. Assessing the TPA’s level of customer service is also important. Having a good TPA can protect your company from having to deal with disgruntled ex-employees. Also, good customer service from your TPA will reduce the incidence of employee complaints about how COBRA is being handled.

Legal accountability. Another important consideration is the indemnification protections provided in the contract. Although a TPA will never be able to take on all legal risk of COBRA administration, it should stipulate in the contract that the TPA takes financial responsibility for its own mistakes. Of course, if you fail to notify them when an employee is terminated or reports another qualifying event, you will be responsible for the COBRA noncompliance, but a good TPA will relieve you of at least some of the risks associated with COBRA.

Logistics of COBRA Outsourcing

After you have decided to outsource COBRA administration and have chosen a TPA, you will enter into a contract with them. As mentioned above, it is extremely important to review the indemnification process and make sure that your company is protected from the TPA’s mistakes. After all, this is probably one of the main reasons you are outsourcing COBRA administration—to cut down on the financial risk resulting from any mistakes.

Although many TPAs are similarly priced, there are often two choices for how you can pay fees. Typically, you will either pay a flat fee per qualifying event or a monthly fee per eligible employee. Companies with low turnover will likely prefer the fee per qualifying event, whereas you might choose the monthly fee per eligible employee if you have high turnover or want to predict your COBRA administration-related spending more closely.

When outsourcing COBRA administration, you will also need to designate someone to serve as a liaison between your company and the TPA. This person will ensure that all qualifying events are communicated to the TPA, will field any complaints about the TPA from COBRA-qualified employees, and will address any other concerns or communication regarding COBRA administration.

For more information on COBRA administration, set up a FREE consultation with our ECG team today.

This HR Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2016, 2019, 2023 Zywave, Inc. All rights reserved.

Heart disease, which includes strokes and other cardiovascular diseases, is a pervasive problem in the United States. In fact, more than 12 million people visit their physicians each year for heart disease-related reasons. Individuals diagnosed with heart disease may suffer from the following symptoms:

• Fatigue
• Stress, anxiety and depression
• Difficulty focusing on tasks

Of those diagnosed with heart disease, nearly 600,000 die each year—roughly 1 out of 4. Treatment and the indirect costs related to heart disease, such as missed days of work, add up to nearly $313 billion each year. Fortunately, there are activities and programs your business can promote to encourage heart health and wellness in your employees.

Activities and Programs

Improving heart health can be as simple as regular exercise (like taking a daily walk) and eating heart-healthy foods. However, finding the motivation for these activities can be challenging. Here are three programs and activities you can implement to help your employees make healthier decisions.

Create opportunities at your business for your employees to participate in physical activities and good nutrition: Promote healthy alternatives in cafeterias and vending machines. You can achieve this by contacting your food distributor and requesting healthier options—such as nuts, fresh and dried fruits, whole grains, and fewer microwavable meals.

Encourage some type of exercise. Your company does not need a gym or designated walking trails to help your employees stay healthy. Instead, you can encourage them to take a walk around the building during their breaks. By walking at least 6,000 steps every day, your employees can improve their health.

Place signs by elevators encouraging people to use the stairs. By taking the stairs each day, your employees can cut their risk of heart attacks in half.

Consider supporting your employees’ healthy choices by providing or reimbursing them for gym memberships. Your business may be unable to install a gym or walking trails near your office, so providing a discount for gym memberships may a good alternative.

Educate your employees on steps they can take to boost their heart health. You can do this by providing health risk assessments, medical screening and effective follow-up education and counseling. This may help employees better control their blood pressure, cholesterol and blood sugar levels, and it could help them quit smoking.

Healthier Employees Are More Productive Employees

Heart disease contributes to absences from work, poor performance and death. By motivating and empowering your employees to make smart health and wellness decisions, you can keep your health care costs low while also increasing productivity. Simple and straightforward initiatives, such as providing healthier vending machine options and health education, can make an impressive impact.

This article is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2015, 2017 Zywave, Inc. All rights reserved.

Open enrollment can be an extremely stressful and overwhelming time for both you and your employees. It is typically the only time during the year in which employees can make changes to their benefits choices, such as adding or dropping coverage, adding or dropping dependents, or enrolling in benefits for the first time.

For an employee, missing this vital deadline can mean losing coverage, or being unable to change benefits elections, which can have a significant financial impact on the employee. For you, when employees miss this deadline, it can result in additional administrative burdens and unhappy or unproductive employees.

In order to prevent these issues, it is important to understand what it means when an employee misses open enrollment and how it can affect your business—before it actually happens. Communicating potential consequences to employees will encourage them to take the open enrollment deadline more seriously.

What Am I Legally Required To Do?

Legally, employers are not required to do anything for employees who have missed the open enrollment deadline. In fact, the terms of your benefits plans may prohibit you from making exceptions for employees who do not make benefits elections within a certain time period, such as before the new plan year begins.

The only exception to these terms is if an employee qualifies for a special enrollment period (SEP). Employees who experience qualifying life-changing events (such as getting married, divorced or legally separated, having or adopting a child, or moving to a new residence or work location that affects benefits eligibility) are eligible to enroll in or make changes to their benefits elections outside of the open enrollment period. It is in your best interest to create simple and comprehensive policies and procedures so that you are prepared in the event of a SEP. If you are concerned about complying with the technicalities of SEPs, contact your representative at ECG Insurance to learn more.

Employers that are applicable large employers (ALEs) under the Affordable Care Act (ACA) may have additional concerns. These employers must offer affordable, minimum-essential coverage to their full-time employees or potentially face the employer shared responsibility penalty. You will not be subject to this penalty if you have offered appropriate coverage to employees, regardless of whether they enrolled in coverage.

In order to ensure that their businesses will not face any penalties, many ALEs should document that coverage has been offered. By requiring employees to sign either an acknowledgement of benefits form for those who opt in to coverage, or a waiver of coverage form for those who opt out or miss the deadline to enroll in employer-based benefits packages, you will create a uniform policy. If you are concerned about complying with ACA stipulations, contact your representative at ECG Insurance to acquire both of these forms to distribute to your employees.

How Can I Help Employees with Open Enrollment?

In order to ensure that your employees are able to make the most out of the open enrollment period and the benefits your company provides, you should take an active role during open enrollment. Consider implementing the following strategies:

Opportunities for Education:
Offering adequate benefits education to your employees prior to and during the open enrollment period can help alleviate much of the confusion that they may face. The first step in achieving this is to provide as much information as possible in many different forms, such as flyers, posters, emails and videos. Additional education can come in the form of personal worksite consultations, one-on-one appointments with HR representatives, seminars, webinars and self-paced e-learning modules. Utilizing as many forms of communication as possible will enable you to reach more employees.

Asking for Feedback
Every employee has his or her own preferences when it comes to receiving important information. It can be beneficial to ask your employees if they like the way information is being provided to them, if they would prefer information to be distributed in different ways, or if they have any questions that have yet to be answered. Surveying your employees will help you clarify their benefits options and the open enrollment process, and it can demonstrate that you are willing to set aside time to help answer employee questions—potentially reducing the number of employees that miss open enrollment.

Make Time for Employees Who Missed Open Enrollment
If an employee misses open enrollment, he or she may understandably be panicked and unhappy. In order to offset any decrease in morale, it is important that you provide opportunities for the employee to meet with HR or to attend informational meetings that discuss his or her options to obtain coverage for the next year. At this point, there is not much more that you can do for him or her unless he or she qualifies for an SEP. The most beneficial ways in which you can help the employee is by offering additional opportunities for education and by asking for feedback regarding the process so that you can work to prevent this from happening again in the future.

Although many of these suggestions are not legal requirements, it is in your best interest to take these steps in order to protect your business and its productivity. Demonstrating to your employees that their needs are important to you will instill high employee morale, and ensuring that you have done all that you were required to do in regards to ACA regulations will protect your business in the event that an employee misses the open enrollment deadline.  

This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2015, 2018 Zywave, Inc. All rights reserved.

A health FSA is an employer-sponsored account that employees can use to pay for (or reimburse themselves for) qualifying medical expenses on a tax-free basis. Unlike a health savings account (HSA), employees do not need to be covered by a high-deductible health plan (HDHP) in order to participate in a health FSA. Health FSAs can be offered with any other type of health plan.

Both employers and employees can make health FSA contributions, in contrast to a health reimbursement arrangement (HRA) where only the employer is allowed to make contributions. Employees may contribute pre-tax dollars to their health FSAs through a Section 125 plan (or cafeteria plan). Employers do not pay FICA or unemployment taxes on employees’ health FSA contributions.

Often, employers will set a maximum annual amount that employees may contribute to their health FSAs. The Affordable Care Act (ACA) limits employees’ pre-tax health FSA contributions each year. Employers may continue to impose limits on employee health FSA contributions, as long as the employer’s limit does not exceed the ACA’s maximum limit. For plan years beginning in 2024, the dollar limitation on employee salary reduction contributions to a health FSA is $3,200.

Employees may use their health FSAs to pay for (or reimburse themselves for) their own qualifying medical expenses, as well as their spouses’ and dependents’ qualifying medical expenses. Qualifying medical expenses are unreimbursed medical care expenses, as defined under Section 213(d) of the Internal Revenue Code. An employer may more narrowly define the expenses that can be reimbursed from an employee’s health FSA. Unlike HSAs, health FSAs cannot be used to pay for non-medical expenses.

There are two unique rules that apply to health FSAs.

1. Under the uniform coverage rule, an employee’s annual health FSA election amount (minus any reimbursements already made) must be available to him or her at any time during the plan year, regardless of how much the employee has contributed up to that point. For example, if an employee elects to contribute $750 to their FSA, the entire $750 must be available to the employee for reimbursement immediately, even though their contributions will be divided throughout the year.
2. FSAs employ a use-it-or-lose-it model. If there are unused funds in the FSA at the end of the year (or after the grace period), the employee forfeits those funds. However, employers also have the option of allowing employees to carry over up to $500 of unused funds from one year to the next. This dollar amount is adjusted for inflation. For plan years beginning in 2024, the limit on FSA carryovers is $640. Note that any amount that is carried over does not count toward the maximum contribution limit.

Courtesy of ECG Insurance © 2012, 2014, 2022, 2023 Zywave, Inc. All rights reserved. Not to be construed as legal advice.

The end of the year is usually an extremely busy time for HR professionals. There’s a lot they must do in a relatively short time period to close out the year and prepare for the upcoming one. A smooth and effective year-end process can help ensure HR professionals or small business owners comply with relevant laws and regulations and that necessary tasks are completed in an orderly manner. This checklist can assist your team in developing and maintaining an effective year-end process and outlines key activities to consider completing before the end of the year.

Year-end activities can seem endless, leaving many business owners and HR professionals feeling overwhelmed. Preparing early can help you wrap up this year properly and set your organization up for success next year.

Establishing a formal year-end process can improve operational and administrative efficiency to save your organization time and money and reduce potential legal liabilities. For assistance with year-end planning, contact ECG Insurance today.

The following checklist is not an all-encompassing year-end list but rather an overview of common HR activities. This checklist is intended to be used as a guide, and the steps in this list should be modified to meet the unique needs of your organization. Due to the complexities and legal requirements of some of these activities, employers are encouraged to seek legal counsel to address specific issues and concerns.

Click here to download the checklist.

This checklist is merely a guideline. It is neither meant to be exhaustive nor meant to be construed as legal advice. It does not address all potential compliance issues with federal, state or local standards. Consult your licensed representative at ECG Insurance or legal counsel to address possible compliance requirements. © 2022 Zywave, Inc. All rights reserved.

Employers continue to struggle with rising health care costs and providing employees with affordable and quality care options. Unfortunately, employers expect health care costs to increase significantly in 2024, according to several industry surveys and reports. These findings revealed that employers anticipate health care costs to grow between 6.5% and 8.5% in 2024, the largest increase in more than a decade. As a result, employer-sponsored health care plans may cost more than $15,000 per employee.

For the most part, employers have avoided shifting increasing health care costs onto employees due to the tight labor market and ongoing attraction and retention challenges. Despite employers’ reluctance to shift the burden of rising costs on to employees, workers will likely pay more for health care as overall medical expenses increase. Health insurance costs are already among the biggest expenses for American families; therefore, employees will likely feel increasingly stressed and burdened financially as they are forced to pay more for care. As such, employers have an opportunity to support their workers by helping them navigate rising costs.

This article provides guidance to help employers discuss increasing health care costs with their workers and aid employees in mitigating these expenses.

Why Are Health Care Costs Rising?

Health care costs have increased relatively slowly over the last few years, in part due to decreased utilization during the COVID-19 pandemic and because insurer contracts typically are not renegotiated annually. However, several market conditions have recently led to steep increases in health care costs. For example, health care utilization has rebounded, resulting in medical plan costs returning to pre-pandemic levels. Utilization has especially increased for catastrophic claims and among individuals with chronic health conditions.

Inflation is also causing health care costs to rise. Hospitals and medical providers are increasing prices to address rising employee wages and supply costs. Additionally, consolidation among hospitals, physician practices and commercial insurers has resulted in higher health care prices for insurers.

Other reasons why health care costs are expected to increase in 2024 include the following:

• Specialty and costly prescription drugs, especially the high demand for diabetes and obesity drugs
• Cell and gene therapies
• Technological advancements
• Workforce shortages

These market conditions started affecting insurance rates and contracts in 2023, and their impact is only expected to grow in 2024. As a result, increases in health plan expenses are expected to impact all employers, regardless of size and whether they are fully or self-insured.

How Employers Are Responding to Rising Costs

While some employers may pass increasing health care costs onto their employees, many employers are expected to absorb most of the higher costs to remain attractive to top talent and retain their workforce. Instead, these employers are expected to embrace cost control initiatives, such as requiring prior authorization, utilizing disease management and adding nurse advice lines. Other strategies employers will likely implement to manage rising health care costs include wellness programs; plan design initiatives (e.g., offering high deductible health plans, requiring spousal surcharges or carve-outs and conducting dependent eligibility audits); and offering telemedicine, price transparency tools, and centers for excellence.

Helping Employees Navigate Rising Health Care Costs

Even though most employers will not pass rising health care costs onto employees, how employers communicate changes and information related to increasing medical costs is critical. It presents employers with an opportunity to build trust, strengthen employee loyalty and reduce the risk of turnover. Employers should consider the following strategies for communicating with employees about rising health care costs.

Establish Key Messaging

How employers communicate about rising health care costs and any benefits changes to employees can often impact whether they are understood and accepted. By keeping key messaging simple and clear, such as focusing on new or updated benefits offerings, employers can better ensure that employees understand any changes. Clear and simple messaging can be repeated often, helping to distribute important health care and benefits information to the entire workforce.

If changes to benefits plans result in increased costs or reduced offerings for employees, employers can find ways to communicate not only takeaways but also givebacks (e.g., increasing employee premium contributions but adding certain supplemental benefits, such as transportation benefits). This allows employers to demonstrate to employees what they are doing to address rising health care costs and that they are mindful of employees’ financial burden due to increasing costs. This can help organizations get employee buy-in for any benefits changes and build loyalty and trust with their workforce, which can help improve productivity and attraction and retention efforts.

Communicate Changes to Employees

As organizations make changes to their health insurance plans and offerings to address increasing medical costs in 2024 and beyond, it’s important to clearly communicate those changes to employees. Failing to do so may result in employees paying for expensive and, in some cases, unnecessary care. This may include employees going needlessly out of network to receive care, resulting in increased medical costs. With this in mind, effective employee communication can help employers with implementing cost control measures.

Select Appropriate Communication Channels

Since every workplace is different, selecting multiple communication channels that are engaging and relevant to the workforce is essential. Leveraging technology can help employers communicate frequently and effectively with employees about changes to health care costs, benefits, and offerings rather than simply relying on in-person or physical communication methods. Digital channels allow employees to access information when and where they need it. Still, in-person communication, on-site meetings and physical mailers can play an important role in communicating increasing costs and benefits changes to employees as well as ensuring these changes are understood and received.

Educate Employees About Health Care Costs

Employers can educate employees on the current state of the health insurance industry and how to effectively use their health plans to avoid unnecessary or high-cost care. By focusing on educating employees about any changes and rising costs, organizations can enhance the overall effectiveness of their communication methods and increase the likelihood that employees will accept them. Employers can also give employees a breakdown of total health care premiums and the portions paid by each party to help workers understand how medical costs impact a company’s bottom line as well as the total value of the benefits provided to employees. Additionally, employers can provide tools to help employees make the most cost-effective health care decisions.

Employer Takeaway

Helping employees navigate rising health care costs is an ongoing process, but it’s essential that workers feel properly informed about medical expenses, benefits options, and mitigation strategies. Establishing strategies to communicate important information regarding increasing health care costs and benefits changes is vital to the health and well-being of an organization’s workforce. As health care costs will likely increase for the foreseeable future, employers who act now to address workers’ concerns regarding rising health care costs and provide actionable solutions can improve employee retention, increase productivity, strengthen staff morale, and gain a leg up on their competition.

For additional employee benefits resources, contact us today.

This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2023 Zywave, Inc. All rights reserved.

Like many industries, the world of insurance has its own unique set of vocabulary to describe its products. To help you understand the information included in a life insurance policy, we’ve gathered some basic terminology in this easy-to-reference overview.

Beneficiary: The person or party named by the owner of a life insurance policy to receive the policy benefit.

Cash value: The savings element of a permanent life insurance policy, which represents the policy owner’s interest in the policy.

Contingent beneficiary: The party designated to receive proceeds of a life insurance policy following the insured’s death if the primary beneficiary predeceased the insured.

Convertible term insurance policy: A term life insurance policy that gives the policy owner the right to convert the policy to a permanent plan of insurance.

Dividend: A return of part of the premium.

Face amount: The amount of the death benefit payable under a life insurance policy.

Irrevocable beneficiary: A life insurance policy beneficiary who has a vested interest in the policy proceeds even during the insured’s lifetime because the policy owner has the right to change the beneficiary designation only after obtaining the beneficiary’s consent.

Insurable interest: The interest an insurance policy owner has in the risk that is insured. The owner of a life insurance policy has an insurable interest in the insured when the policy owner is likely to benefit if the insured continues to live and is likely to suffer some loss or detriment if the insured dies.

Insured life: The person on whose life the policy is issued.

Original age conversion: A conversion of a term life insurance policy to a permanent plan of insurance at a premium rate, based on the insured’s age when the original term policy was purchased.

Permanent life insurance: Life insurance that provides coverage throughout the insured’s lifetime and also provides a savings element.

Policy anniversary: As a general rule, the date on which coverage under an insurance policy became effective.

Premiums: Amount paid to the insurance company to buy a policy and keep it in force.

Renewable term life insurance: A term life insurance policy that can be renewed at the end of the policy term.

Term life insurance: A life insurance policy that provides a stated benefit upon the holder’s death, provided that the death occurs within a certain specified time period. Policy does not build up a cash value.

Universal life insurance: A type of flexible permanent life insurance offering both term life insurance as well as a savings element, which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder’s circumstances change.

Whole life insurance: A basic type of permanent life insurance. It provides coverage that lasts a lifetime and also builds up a cash value that you can borrow against, withdraw, or use to pay future premiums.

If you have more questions about life insurance, please make an appointment with us now.

This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2016, 2018 Zywave, Inc.All rights reserved.

Life insurance isn’t a fun thing to think about, and it may seem like an unnecessary expense. But if you have people who depend on you for financial support, then life insurance is really about protecting them in case something happens to you –your designated beneficiary would collect a financial benefit upon your death. Life insurance can be confusing, so here’s a rundown of the basics.

Types of Life Insurance

Term: This is the simplest and generally the cheapest form. You buy coverage for a specific period of time. It can usually be renewed, but premiums will increase based on age and health factors. There is no cash value.

All other types of life insurance are permanent, but there are several varieties. They all include a savings element that builds cash value, in addition to the death benefit. Once that cash value accumulates, it is accessible to the policyholder tax-free. The following are some of the common types of permanent life insurance.

Whole Life: You purchase this policy to cover your entire life, as long as you keep paying premiums. Premiums remain constant throughout the policy, and the company invests a portion of your premium that becomes the cash value. These are more expensive than term policies in the early years, but they even out because the premium does not increase.

Universal Life: This policy is similar to whole life, but has the potential for higher earnings on the savings component. It is more flexible in terms of changing premiums and face value throughout the policy. There is usually a guaranteed return on the cash value. Disadvantages include higher fees and the possibility of increasing premiums.

Variable Life: A variable life policy generally has fixed premiums, and you have control over the investment decisions for the cash value portion. However, this is riskier because there is no guarantee for the cash value.

How Much to Buy?

Many people decide based on an income replacement calculation, between 5 and 10 times the amount of your current income.

Think about your personal circumstances: Is yours the sole income in your household? Are there other expenses, such as college tuition, that may arise in the future? Don’t forget to include potential medical and funeral costs. Above everything, you want to be sure your family does not get stuck with bills, debts, or expenses that they cannot afford. Depending on your needs, you may want to consider buying supplementary coverage beyond what offers.

Why Purchase Now?

Buying life insurance may seem unmanageable right now, but it could be a smart decision. Unlike many other benefits, life insurance is actually more affordable right now than in the recent past. Plus, during this tough economic period, ensuring that your family will be financially secure in the future is more important than ever.

If you have more questions about life insurance, please make an appointment with us now.

This Benefits Insights is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2016, 2018 Zywave, Inc.All rights reserved.