QUESTIONS voluntary carriers. don t want you to ask.

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Corey Potter
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1 QUESTIONS voluntary carriers don t want you to ask.

2 How easy is your payroll-deduction process? Can you consolidate? An established payroll-deduction process will have the capability to combine multiple products from various carriers into one or more payroll slots. This gives employers the flexibility to choose a deduction preference that works best for their company: weekly, bi-weekly, semi-monthly, or monthly. A carrier system that can support a wide variety of employee-paid products and can easily change and schedule deductions can be a cost- and time-saver. Payroll deduction and consolidated billing services can get hectic when an employer has a question or a problem arises. How beneficial would it be to have one person to go to for billing interface and data exchange questions? What about having an online tool to make electronic changes, ask questions or remit premiums? Ask your carrier who it is that will be working on your case, and if it s possible to have one contact for all your billing needs.

3 What you really want is a billing process that s simple and easy, right? When investigating your payroll-deduction options, there s some criteria to keep in mind. If a carrier can accomplish these four necessary items, this translates into one thing: fewer administration headaches. Is your system accurate? A payroll-deduction service that can deliver accurate billing on different pay cycles takes a load off human resources, giving them more time to grow their strategic benefits initiatives. Employers should receive a timely and accurate list of participating employees and their approved payroll-deduction amounts. Is the data transfer seamless? Data transferring is, and should be, easy; it s just a matter of how an employer chooses to have it transferred. A payroll-deduction system should be able to accommodate specific needs and transferring preferences. How fast can you import changes? Most employers will have changes following the initial setup. After all, that s the nature of payroll. A system that can quickly import change files will minimize payroll confusion and help protect the employee from any mistakes. Ask your carrier what process they have in place to quickly take care of any changes that surface. Share this ebook.

4 What s your experience in the industry?

5 A carrier that offers innovative products and flexible enrollment solutions is often hard to find. To be an expert in both areas, means experience is needed. To determine if a carrier is experienced enough to deliver the financial solutions employers are after, ask questions such as: How many years have you been in the voluntary benefits business? What existing relationships do you have with enrollment partners? What partnerships do you have with technology vendors that could deliver a discounted or no-cost benefits administration platform? Are you actively listening to what your clients need and want? Experience means they ve seen it all. A carrier that s been around for a while means they know what hasn t worked and what has. The voluntary benefits industry is ever-evolving, so be sure to find a carrier that is well-established in their history, but is forward-looking and always striving to progress their solutions, their products and relationships. Share this ebook.

6 Is the case implementation process simple? Personal: Make sure to ask about bringing a dedicated implementation manager to the table. An implementation manager can serve as a single point of contact to save time, eliminate confusion and get you the answers you need pre- and post-enrollment. The implementation manager will know more detail about your case than anyone else.

7 The case implementation process is typically a good early indicator of whether or not an enrollment will be successful. To make life easier, look for a carrier that s personal and can tailor their solutions. Tailored: Look for a carrier that will customize the client setup process; this includes training. We already talked about the customized options you should look for in a payroll-deduction process, but the carrier should be flexible enough to meet your needs in regard to training, especially if there are time-sensitive concerns or location barriers. Look for a carrier that will perform onsite training, if that is what s needed, and who is flexible enough to ensure a successful enrollment. Share this ebook.

8 Do you offer guaranteed renewable products?

9 With an employee benefits market that is currently saturated with employer-paid group carriers, you ll probably find that guaranteed renewable products are a far and distant concept. Remember why insurance policies exist to protect people s financial needs. Employees buy insurance to take care of their long-term financial protection needs, and there s no better way to assure them that their policy is reliable than to provide them with a guaranteed renewable policy. Find a carrier that deeply cares for the policyholders needs and promises to pay when they need it most. Share this ebook.

10 Do you have engagement solutions and program discounts? Do you have integrated wellness programs? There s a growing awareness among companies that health and productivity strategies are a critical success factor in a world of so many unknowns. Employee health habits continue to be the top challenge employers face while trying to decrease their healthcare costs. Look for a provider that s going to help you combat the passivity of employees and catapult them into a pursuit of healthy living. You will need help creating a strategy that includes both high-tech and high-touch initiatives so employees at any health level can be influenced to make healthier lifestyle choices. Request previous examples of communication campaigns and wellness programs. This will help gauge whether or not a provider has the experience, knowledge and resources to help employees take charge of their health.

11 Do you offer turnkey engagement solutions? Employee engagement continues to be another challenge employers face. Ask if a carrier can help with other communication objectives such as healthcare reform and participation in a consumer-directed health plan, 401(k) or dependent audit. $ $ $ Do you have preferred pricing for enrollment technology services? Some voluntary carriers have agreements with technology vendors so they can offer clients a discounted or no-cost administrative platform, as long as voluntary products are actively enrolled. Ask if a carrier has any established technology partnerships. Finding the right technology solution is crucial to a successful enrollment and the maintenance of voluntary benefits. Share this ebook.

12 About Trustmark Voluntary Benefit Solutions Trustmark Voluntary Benefit Solutions is a division of Trustmark Insurance Company, which has more than a century of experience in voluntary benefits. We deliver voluntary benefit solutions and personal service to employers increasingly concerned about their ability to offer a complete benefits package, and to employees looking to supplement their core benefits with voluntary benefits that meet their needs. We partner with enrollment firms, employee benefits brokers and consultants to leverage one-on-one communications during core and off-cycle enrollments to help customers achieve financial and physical well-being.

13 Share this ebook.

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