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Fasten your seatbelt because whether you are an employer or an employee, your benefit program is about to change.

During the booming industrial age when a potential employee would seek out employment at a medium to large sized company, they would look at wages as the main reason for choosing one company over another. Most employers would typically offer the same benefit plan which included medical and dental insurance. This same employee also knew that if they stayed with this employer until retirement, their retirement needs would be met through a defined benefit plan.

Employees during this time period did not need to be educated on their employee benefits program because they had little to no choice in the matter. Typically, these employees were enrolled automatically in their benefits and could not make any adjustments or changes to their plan or plan design. Benefits were viewed as and became entitlements.

Now enter the information age. With the cost of offering a competitive em (more...)

Health insurance is a special sort of insurance that can protect a family from
financial ruin in case of serious illness to you or any of your family members.
That is because the insurer pays the medical costs of the insured. Most of us do
not have health insurance on our minds while we are busy living our lives from
day to day, but it the very first thing we think about when someone in our
family becomes ill or has an accident. There are a wide variety of factors
relating to health insurance coverage in the United States, and they vary from
state to state.

According to statistics from the US Census Bureau, approximately 85% of
Americans carry some kind of health insurance. Many people, about 60%, are
covered through their place of employment or through individually acquired
health insurance. Roughly 25% of the American population is insured by federal
or state government agencies, which may include various state funded health
(more...)