Tags

    News

    Onboarding Best Practices
    Good Guy = Bad Manager :: Bad Guy = Good Manager. Is it a Myth?
    Five Interview Tips for Winning Your First $100K+ Job
    Base Pay Increases Remain Steady in 2007, Mercer Survey Finds
    Online Overload: The Perfect Candidates Are Out There - If You Can Find Them
    Cartus Global Survey Shows Trend to Shorter-Term International Relocation Assignments
    New Survey Indicates Majority Plan to Postpone Retirement
    What do You Mean My Company’s A Stepping Stone?
    Rewards, Vacation and Perks Are Passé; Canadians Care Most About Cash
    Do’s and Don’ts of Offshoring
     
    Error: No such template "/hrDesign/network_profileHeader"!
    Blogs / Send feedback
    Help us to understand what's happening?
    A self-administration option for employers is offered by most voluntary carriers, according to Eastbridge research
    Press Releases
    Of the 31 voluntary carriers surveyed in a recent study conducted by Eastbridge Consulting Group, seventy-one (71) percent offer both self and insurer administration options, while 29 percent only offer insurer administration for their voluntary products. For the purposes of this survey, self-administration (sometimes called employer administration) of voluntary programs means that the employer keeps individual records for each employee’s product owned instead of the insurance company.

    While the majority of respondents offer both administrative options, most also have some type of restriction regarding the type of voluntary products that can be self-administered.  The most common restrictions involve product platform (i.e. individual versus group) or product type (i.e. products that require frequent eligibility information such as dental or vision).

    Even though the majority of carriers offer a self-administration option, only one-third of the carriers have more than 50 percent of their employers currently using this administrative option.  In addition, even if the employer is using the self-administration option, the majority of the participating carriers still require an eligibility file to be submitted at least on an annual basis.

    Changes anticipated in the next five years regarding administrative options include adding a self-administration option for several carriers that do not currently offer this service.  Only two of the carriers that currently offer self-administration plan to expand their capabilities in this area, but about half plan to promote their self-administration option more than they do today.

    The Self-Administration Practices for Voluntary Products Frontline™ Report offers a better understanding of whether this practice is becoming more or less prevalent for carriers to offer for their voluntary programs and provides additional details about how self-administration works for voluntary plans. Eastbridge Information Partners™ and survey participants receive the report, as well as other Frontline™ Reports, free of charge. For more information regarding the Information Partner program or about Eastbridge reports, email the company at info@eastbridge.com or visit the website at www.eastbridge.com.

    Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.

    FOR FURTHER INFORMATION, CONTACT:
    Ginger Bates (803) 782-0560


     
    Copyright © 1999-2025 by HR.com - Maximizing Human Potential. All rights reserved.
    Example Smart Up Your Business