15 states where $1 million in retirement savings will last the longest
How much do you have saved for retirement? According to GOBankingRates data, employees who have $1 million in retirement savings can make it last for more than 20 years in Mississippi, Arkansas, Oklahoma and Missouri. In this article, Paola Peralta writes on the importance of understanding what better retirement choices can do for your future.
Employees with $1 million in retirement savings can make it stretch for more than 20 years in Mississippi, Arkansas, Oklahoma and Missouri, according to GOBankingRates data in an article from Business Insider. Retirees in New Mexico, Tennessee, Michigan and Kansas can also live on a similar amount of savings, data shows. Retirees with $1 million can expect their savings to last in average span of 19 years, GOBankingRates estimates.
Less choice could mean better retirement outcomes
The amount of income that seniors can replace in retirement is a good measure to determine whether there is a looming retirement crisis in the U.S., according to retirement expert Mark Miller in this article from Morningstar. However, it is hard to make generalizations, he explains. “I think it varies tremendously, depending which demographic group you’re looking at, you can do it generationally or otherwise,” Miller says.
Retirement requires a shift in thinking
As retirees needs change, they should be ready to adjust their mindset and modify their investment strategies, an expert in Kiplinger writes. Retirees should focus more on preservation and distribution after the accumulation phase, the expert writes. “In retirement, it’s important to think of your savings as income rather than a lump sum. It’s not all about achieving maximum return on investment anymore," the expert says. "It’s about how you can get the maximum return from your portfolio and into your pocket."
Employees nearing retirement? 12 features to look for in their next home
Seniors who intend to move to a new home in retirement should consider a property that offers low yard maintenance, a single-story open floor plan and easy access to loved ones and essential amenities, according to a Forbes article. They should ensure that the new house is cheap to maintain and won’t trigger a hefty tax bill, says one expert. “If those costs are low, it can be a great investment.”
SOURCE: Peralta, P. (15 August, 2019) "15 states where $1M in retirement savings lasts the longest"(Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/news/states-where-retirement-savings-will-last-the-longest
The case for expanding wellness beyond the physical
Can addressing mental health, financial wellness and substance abuse in the workplace help employees feel fulfilled both personally and professionally? Newly released data shows that employees who have access to wellness programs that address most or all of the five aspects of well-being are more likely to say their job performance is excellent. Read this blog post to learn more about expanding wellness programs.
Client's wellness programs that only focus on physical fitness may need to rethink their approach.
By expanding wellness offerings to include programs that support workers’ mental and financial wellness, employer clients can increase the overall wellbeing of their workforce. Newly released data from Optum and the National Business Group on Health shows that employees who are offered programs that address most or all of the five aspects of wellbeing — physical, mental, financial, social and community — are significantly more likely to say their job performance is excellent, have a positive impression of their employer, and recommend their company as a place to work.
Over the last decade, workplace wellness initiatives have evolved beyond health risk assessments, physical fitness and nutrition programs. Many programs now include resources to address mental health, financial wellness and substance abuse.
“[Employers] must commit to looking beyond clinical health outcomes,” says Chuck Gillespie, CEO of the National Wellness Institute, speaking at a webcast from the International Foundation of Employee Benefit Plans. “You want employees to be fulfilled both personally and professionally.”
Even though some clients address financial, social and community health, most still focus on physical and mental health.
However, there are benefit trends that address wellness beyond physical fitness. The emergence of financial wellness benefits — such as early pay access, student loan assistance and retirement saving plans — may help employees feel less stressed and more financially secure, which has shown to improve overall health.
But having a good wellness program in place isn’t enough — employers also have to make sure that the offerings are inclusive and personalized, and that the programs have successful participation and engagement rates.
“These programs need to be adapted to who you are,” Gillespie says. “Customization has to be a key factor of what you’re looking at, because everybody is not going to fit inside your box.”
Effective wellness programs use both health and wellness data points and best practices, while keeping an eye on developing trends. Multi-dimensional wellness — looking at aspects such as social and community — can help companies understand the needs of their employees better.
“Employers need to better recognize personal choices, and if the employees are in an environment where they are functioning optimally,” Gillespie says. “Smokers hang out with smokers; the cultural foods that you eat with family may not be nutritious; is there social isolation; do you contribute to your community. [Most benefits] are work-oriented, but for most people, their life is their home life. It’s important to look at the degrees of which you feel positive and enthusiastic about your work and life.”
SOURCE: Nedlund, E. (15 August 2019) "The case for expanding wellness beyond the physical" (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/news/the-case-for-expanding-wellness-beyond-the-physical
Turnover Contagion: Are Your Employees Vulnerable?
How are you engaging employees? With employee retention top-of-mind for organizations wanting to stay competitive in today's market, employers need to find ways to ensure employees are engaged and happy at work. Continue reading this blog post from SHRM to learn more.
Employee retention is top-of-mind for any organization looking to stay competitive in today’s market. Despite swaths of technological advances, in our knowledge-based, global economy an organization’s key assets are still its employees. Considering this, substantial amounts of research have been published about potential predictors and causes of employee turnover. Most of this research can be classified into two categories: individual-level explanations (e.g., job satisfaction, person-job fit, etc.) or external and organizational-level explanations (e.g., unemployment rates, job demand, etc.). However, only having these two types of explanations ignores team-level and the inherent social aspects of turnover. Specifically, do the behaviors and attitudes of coworker's influence employee’s intentions to quit their jobs?
Quitting is infectious.
People regularly “catch” the feelings of those they work with, particularly in group settings. We’ve all been around someone at work whose sour mood set the tone for the day; their negative emotions dampened the mood of everyone else around them. Employee mood isn’t all that is affected. Surprisingly, the emotions of others influence judgment and business decisions – and this all typically happens without anyone realizing.
In a study on the spread of emotions, groups were created to judge how to best allocate funds in hiring decisions. A confederate (actor) was planted in each group and instructed to display one of four emotions: cheerful enthusiasm, serene warmth, hostile irritability, or depressed sluggishness. Not only did the emotions of the confederates spread to each member of the group but each group’s resulting judgments and behaviors were affected. In groups with a pleasant confederate, members displayed more cooperation, less conflict, and allocated funds more equitably than in groups with unpleasant confederate emotions.
In a related study, researchers looked into the contagion of social contexts on job behaviors. As it turns out, evidence suggests an employee’s decisions to voluntarily leave an organization is influenced by the attitudes and behaviors of their coworkers. They found evidence suggesting job embeddedness (how well employees feel they fit in with their job and the community) and job search behaviors of coworkers predict individual voluntary turnover. An employee’s job embeddedness is the relative strength of their organizational network; weaker bonds or links are easier to break. That is, if a coworker is low on organizational connection (e.g., fewer and weaker relationships with other organizational members) or engages in noticeable job-seeking behaviors (e.g., talking about an application or interview, expressing a desire to leave, quitting, etc.) their colleagues are more likely to choose to exit the organization. As can be imagined, this relationship is amplified when a coworker has both low job embeddedness and visible job-searching behaviors.
People leave organizations all the time. There are several reasons why employees decide to leave organizations - whether it be for personal (relocation of family member), professional (more pay, promotion, career change), or organizational (job or organization redesign). In fact, healthy businesses want some amount of turnover. However, in the case of turnover contagion, your employees are leaving simply because their colleagues are leaving. When a group of employees leave an organization in rapid cycle, it may be due to the influence of their immediate peer group and this should be cause for concern as turnover contagion is likely occurring.
The interplay of social contexts within an organization along with individual and organizational-level predictors adds more to our understanding of the complexity of employee turnover decisions. This is just one piece of the pie – and an important one. Understandably, more research needs to be conducted until just how this phenomenon works is understood, however, based on the evidence, organizations and leaders shouldn’t wait to act.
For one, it’s a tight labor market and has been for some time now. Overall, many employees are looking and leaving. There has been a cultural shift among workers where they feel increasingly less loyalty than before and are even more likely to job hop. To add to this, unemployment is at an all-time low and job growth is climbing. Meaning there are more open jobs than there are workers to fill them. It’s an applicant’s market. These factors, coupled with the sheer cost of replacing skilled employees – speculated to be a whopping 1.5 to 2 times an employee’s salary – should give pause to leaders when they suspect employees have caught the turnover bug.
On the bright side, turnover contagion can be minimized, and companies stand to reap plenty of rewards through emotional contagion. Just like negative emotions create a spiral of negativity, so too can emotions with a more positive valence. For example, leaders can use the infectious qualities of emotions to spread feelings of happiness by expressing gratitude or complementing someone. In addition, increasing job embeddedness and strengthen the bonds your employees have by building more connection with their team, leaders, and other departments can go a long way to reducing turnover.
SOURCE: Ford, A. (13 August, 2019)"Turnover Contagion: Are Your Employees Vulnerable?"(Web Blog Post). Retrieved from https://blog.shrm.org/blog/turnover-contagion-are-your-employees-vulnerable
Employer-sponsored savings programs could be the future of financial wellness
An estimated 43 percent of hourly workers have less than $400 set aside in their savings for emergencies. For those workers, an accident or unexpected expense can be financially devastating. Read this blog post from Employee Benefits Advisor to learn more about employer-sponsored savings programs.
For 43% of hourly workers who report having less than $400 in savings set aside for emergencies, an accident or unexpected expense can be financially devastating.
But employer-sponsored savings programs could be a viable solution. Low- and middle-income employees who are more financially secure have been shown to be less stressed and more productive when they have an employer-sponsored savings program, which may lead to lower healthcare costs, better customer service and stronger attendance, a new survey from nonprofit organization Commonwealth finds.
The national survey of 1,309 employees earning less than $60,000 a year found that employers offering workers savings interventions at the time of raise, can positively impact their employees’ personal finances. Three-quarters of hourly employees surveyed believe that if their employer offered savings options at the time of a raise, they would be less stressed and more confident about their finances.
“There's a lot of talk about financial stress, but when you're really living paycheck-to-paycheck, that stress is about being able to pay your bills on time,” says Commonwealth’s executive director Timothy Flacke. “It's about cash flow, and that's a particularly acute form of anxiety.”
The report analyzes the potential effects of savings programs including split direct-deposit paychecks, low-interest loans and savings accounts — and compares how those programs alleviate employees’ financial stress. Workers surveyed believe if their employer-provided savings tools they would be happier and more productive. Moreover, the survey found individuals with more in savings were less likely to have financial worries than those with little savings.
One of the companies partnered with Commonwealth to link raises with savings is Minnesota-based education company New Horizon Academy. In the beginning of the year, the company piloted a new savings program that gives its employees the option to have the raise diverted through the payroll system to a savings account each pay period, instead of having it go into their normal checking account.
“Through this, our employees are beginning to build up some financial reserves in case of an emergency, or life circumstances that requires them to dip into a savings account,” says Chad Dunkley, CEO of New Horizon Academy. Although it’s too early to state results from the pilot program, the company hopes it will have a positive long-term impact on the financial health of its employees, Dunkley says.
“This is just one of those additional ways [to] stabilize our employees, so they can come into the classroom without the financial stress that certain situations cause when you're not prepared for an emergency, whether it's new tires on your car or health issues,” he says.
SOURCE: Nedlund, E. (19 August 2019) "Employer-sponsored savings programs could be the future of financial wellness" (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/news/reduce-stress-increase-productivity-with-financial-wellness
Specific Plans for Your Employees
Most plans are created to fit every employee but not specifically each employee's specific needs. However, employers now are looking at adding more customized packages for their employees. In turn, this is helping with new hires. Keep reading this blog to learn about additional benefits.
Research shows that benefits drive the attraction and retention of employees even more than compensation. When implemented in the correct way, these perks can help draw diverse groups of workers. So if this is the case, why are so many packages not tailored to diversified workforces?
The short answer is because it’s easier to administer a one-size-fits-all plan. The burden of building customized plans means that packages are updated only once a year. As a result, modern workers needs go unmet, because life circumstances and coverage requirements can change at any given moment.
These packages need to go beyond baseline benefits such as medical, dental and vision. Employers should realize that adding more customized benefits could help the needle in the talent war.
For example, two new employees at opposite ends of the spectrum may require different kinds of benefits to meet their needs, but few packages are set up to accommodate these differences. While millennial workers may view offerings like pet insurance or tuition reimbursement as must-haves, these may not be relevant for everyone.
Blanketing all employees with the same benefits package risks failing to engage those prospects who have something amazing to bring to your business. An employee who has a baby mid-year, for example, might have to wait to get her life insurance adjusted or open a college fund because it’s not on the schedule.
But in some sectors, things are starting to change. Larger enterprise employers are now more likely to offer at least five kinds of benefits, including life insurance, pet insurance and disability coverage plus legal shield, identity protection, loan repayment, financial literacy and paid sabbaticals with more added all the time. We’re also seeing an uptick in new offerings such as workplace education and vacation planning or payment.
Now the same approach needs to be adopted in the mid-market. Employers need to make a concerted effort to understand their workforce. To learn and drive benefits package curation to consider a survey or evaluation exercise. HR leaders should also institute more frequent touchpoints, for example, every quarter, to assess the utilization rates of a benefits package.
Looking ahead, the workplace of the future will become even more diverse. As more workers continue to choose to work remotely, companies will need to accept hiring talent outside of the U.S. Which also means hiring managers will have to address perks and benefits that may fall outside of a company’s home state, or even satisfy alternative healthcare or benefits packages in countries with different requirements altogether.
Every employee’s situation is different and the industry needs to be ready to offer benefits and workplace perks that match key talent’s most important needs.
SOURCE: Lyubovitzky, Rachel. (2 August 2019). "It's time to put an end to one-size-fits-all employee benefits plans" (Web Blog Post). Retrieved from: https://www.employeebenefitadviser.com/opinion/the-case-for-personalized-employee-benefits-plans
Summer Hours
Should employees have different hours in the summer? Will this make them work less or more? Continue reading today's blog to answer these questions! Read more
Paid Leave
Benefits can be one of the sure ways of attracting a new hire and paid leave is one of the most coveted benefits. However, this benefit can be a tricky one to navigate. Some employers are getting themselves into trouble in the process, facing accusations of gender discrimination or improper use of leave.
Here are four potential pitfalls of paid leave, and how employers can avoid them.
1. Be careful what you call “maternity leave.”
Employers have long been granting leave for new moms in the form of disability coverage. In fact, the top cause of short term disability is pregnancy. Disability insurance usually grants new moms six to eight weeks of paid leave to recover from childbirth.
Because this coverage applies to the medical condition or recovering from childbirth, it shouldn’t be lumped in with bonding leave.
Guidance from the Equal Employment Opportunity Commission says leave granted for new moms for bonding must also be extended to new dads, so separating disability leave from bonding leave is crucial to avoiding gender discrimination.
2. Don’t make gender assumptions.
The amount of bonding time for new parents after birth, adoption or fostering must be granted equally for men and women. Companies that don’t provide the same amount of paid leave for men and women may find themselves in a discrimination lawsuit.
It’s not just the time away from work that matters, but also the return-to-work support provided. If new moms are granted temporary or modified work schedules to ease the transition back to work, new dads must also have access to this.
Some companies may choose to differentiate the amount of leave and return-to-work support for primary or secondary caregivers. That’s compliant as long as assumptions aren’t made on which gender is the primary or secondary caregiver.
The best way to avoid potential gender discrimination pitfalls is to keep all parental bonding and related return-to-work policies gender-neutral.
3. Avoid assuming the length of disability.
Be careful about assuming the length of time a new mom is disabled, or recovering medically, after birth. Typical coverage policies allow six to eight weeks of recovery for a normal pregnancy, so assuming a new mom may be out for 10 weeks might be overestimating the medical recovery time, and under-representing the bonding time, which must be gender-neutral.
4. Keep up with federal, state and local laws.
Mandated leave laws are ever-evolving, so employers should consistently cross-check their policies with state and local laws. For instance, do local paid leave laws to treat adoption the same as birth? Are multistate employers compliant? What if an employee lives in one state but works in another: Which state’s leave policies take precedence?
Partnering with a paid leave service provider can mitigate the risk of improperly administering leave. Paid leave experts can help answer questions, review guidelines and provide information regarding job-protecting medical or family leave.
They can also help flag potential pitfalls, ensuring leave requests from all areas of your company are managed uniformly and in accordance with state and federal laws, including the EEOC.
SOURCE: Bennett, Angel. (29 July 2019) “4 pitfalls of paid leave and how clients can avoid them” (Web Blog Post). Retrieved from https://www.employeebenefitadviser.com/list/pitfalls-of-paid-family-leave-and-how-to-avoid-them
Performance Management in HR
Does the HR department cross paths with other departments? What exactly is HR? How can your company improve this department? Keep reading this blog to find out some helpful tips to improve this department.
The impact those demands have had on recruiting, retention, learning, development, talent strategy, not to mention employee productivity and performance has left many HR professionals wondering… what exactly is HR’s value proposition and function?
HR traditionally manages those routine yet essential processes - recruiting, hiring, onboarding paperwork, legal compliance, harassment training, and workforce planning to name just a few.
This isn’t the rule, of course. HR leaders in many companies have done an excellent job at up-leveling their teams beyond the human capital management administrative processes to a people and culture-first approach that puts the “human” back into human resources.
Still, there is a prevailing problem I see many companies face: the old human capital management processes of the past aren’t flexible enough to adapt to the dramatic shifts in the way we need to effectively manage the workforce, deploy learning initiatives, develop talent, and deploy an overall human capital management strategy.
While there are several of these old processes that sit on my top five “time to adapt” list… one that currently stands out is performance management.
Performance management has evolved
Traditionally, performance management is a point-in-time event that happens annually or bi-annually alongside merit increases.
Over the years, however, multiple studies, statistics, and endless internal pulse surveys have revealed a new trend: a continuous performance management and feedback loop coupled with ongoing learning and professional development programs is crucial to engage and retain today’s modern workforce while giving HR teams a talent pool to meet the ever-changing needs of the business.
Learning & development teams are the linchpin
Having served in many different roles across a variety of companies - restaurant, hospitality, manufacturing, and a few more in between - I’ve witnessed the numerous ways HR and Learning & Talent Development teams engage with each other while serving their prospective divisions, departments, and employees.
What I know for sure is that the learning and development function can act as the linchpin to adapt the old performance management process to the new, continuous performance management cycles. L&D has a holistic view of the needs, gaps, and effective programs based on divisions, jobs, roles, etc...
With the right learning management or talent development platform, they can see the connection between goals, skills, competencies, and behaviors and how those can be effectively deployed continuously alongside the performance management cycles. Their function sees the employee experience during the time it matters most.
It’s time to integrate learning and performance management
“In an age where continuous learning is essential to drive new skills and behaviors, fewer than half of companies effectively link learning to performance.” This observation from The Brandon Hall Group hit home for me because it’s true - but it doesn’t have to be.
What then keeps HR teams from transitioning from one process to another? It’s a great question I challenge learning & development and HR teams with all the time.
What I’ve found is that (1) L&D leaders see the gap, (2) HR teams are constrained with competing priorities and an increased need for their function to address their existing functions (payroll, benefits, rewards, etc…) with the more strategic, higher-priority areas.
Starting your journey to shift toward a more agile, collaborative, and continuous performance management process requires these two teams to come together and recognize this transition as an important priority for both teams’ success.
By implementing a continuous cycle of performance and goals management within your organization, HR and L&D teams can:
- Measure the impact of competency and skills within your organization
- Support learning effectiveness and impact measurement
- Provides line of sight into skill, knowledge and competency gaps for employee and employer
- Unlock the maximum potential by aligning resources and focused training
- Establishes a direct link between employee performance review feedback and learning content to help close gaps
- Proactively plan for the future with a comprehensive view of your organization that lets you find the candidates who are most qualified for the job
There are many ways to adapt your performance management process to meet your organizations changing needs and your employees’ demands. The important thing to walk away with is that it’s an opportunity to bridge the divide between the HR and learning functions to deliver a more personalized, continuous, and effective performance management review cycle.
SOURCE: Brown, Matthew. (31 July 2019). "Why HR should connect performance management and learning" (Web Blog Post). Retrieved from https://www.hrdive.com/spons/why-hr-should-connect-performance-management-and-learning/559636/
Bad Hire Calculator
What may seem like minor costs when making a bad hire after the recruitment process can potentially be extremely harmful to a company. Lost productivity costs and hiring costs are two expenses that occur when making a bad hire. There is now a tool that can tell you just how much your company is spending on these bad hires.
- Many organizations don't know the true cost of making a wrong hiring decision, according to Thrivemap. Thrivemap developed a calculator that takes an organization's current headcount, annual headcount growth percentage and staff turnover rate and estimates that cost. The final cost estimate accounts for lost productivity costs, as well as hiring costs like advertising and agency fees, Thrivemap said in a press release emailed to HR Dive.
- As an example, the company calculated the bad hire costs for a company in the hospitality industry with 500 employees, an annual 5% increase in headcount and a 15% turnover rate. The costs added up to £406,038, or more than $500,000.
- Lost productivity is a cost that businesses experience often but shouldn't ignore, according to Thirvemap. The company said that research it conducted earlier this year found that workers who felt they fit their role and their employer's culture gave their productivity a 7.2 rating out of 10, compared to the 5.3 rating that those who felt they were a bad fit on both counts gave their productivity.
A 2018 Salary.com report said that turnover is at an all-time high, which puts more pressure on talent pros and hiring managers to avoid hiring mistakes. With turnover and the cost of attrition top of mind for employers, it might be prudent for talent pros to also consider the productivity costs that result from bad hires, too. One example from Thrivemap indicated that the difference in productivity between a good-fit employee and a bad hire can be as high as 36%.
Thrivemap points out that when HR can account for and calculate costs associated with its functions, in this case hiring, it comes closer to its proverbial seat at the table. HR must be able to understand financials, establish its own key performance indicators and show the top brass that it can hit those benchmarks for success, experts have told HR Dive. To stand a better chance of avoiding bad hires altogether, experts have said that talent pros can:
- Have a robust interview process with multiple people, diving deep into experience that is critical to the role;
- Use assessments related to the job;
- Thoroughly go through the reference process;
- Articulate the company culture.
In addition, any tools that can predict what bad hires are currently costing could help HR departments and talent professional make a case for adopting better sourcing and screening tools within their organizations. Investing in tools that can better identify hires with the right skills and who are the right culture fit might keep bad hire costs from becoming a chronic drain.
SOURCE- Bolden-Barrett, Valerie. (25 July 2019). “Bad hire calculator aims to estimate the cost of failed recruits” (Web Blog Post). Retrieved from https://www.hrdive.com/news/bad-hire-calculator-aims-to-estimate-the-cost-of-failed-recruits
Association Health Plans & Their Benefits
Many individuals do not understand various insurance terms and the plans available to them. Most employers have a hard time trying to find the best and the most affordable coverage for their employees. It is important you find an insurance company or agent that can break it down for you to get the best coverage.
We asked our founding partner and CEO, Jamie Charlton, to shed some light on Association Health Plans (AHPs) and also give their advantages and disadvantages.
What is an AHP, and How Does it Work?
According to Charlton, AHP or Association Health Plans are a conglomeration of smaller groups that come under the guise of a larger umbrella to leverage bulk buying power. They might not be small companies per se, but are those that come together under one industry or from the same geographic area to strengthen their negotiating power. They can be a group of manufacturers, printers or self-employed individuals from the same jurisdiction. An example of such an association is the Chamber Alliance.
Ideally, small businesses, including self-employed individuals in the same industry or geographic location, can merge to form larger groups to get healthcare plans as one large group. Coalitions are more or less the same as these associations, only that coalitions are groups made up of non-profit institutions such as schools. Associations are mostly businesses or organizations aimed at making profits.
AHP Expansion
United States (US) President, Donald Trump, issued an executive order to promote healthcare coverage in the US on October 12, 2017. The order aims at expanding access to small businesses to get the same competitive advantage as large corporations when purchasing health insurance. This order was meant to provide more affordable health insurance plans to as many individuals as possible. These individuals include farmers, wage earners and employees of any small business in the US.
Charlton has a slightly different view of this expansion. Though it has helped a few individuals, the expansion does not present any advantage as the rates keep going higher with age. He explained, “AHPs don’t have an advantage in the long run, unless they have a long-term sponsor.” AHPs have always been in existence, and the expansion is just political rhetoric that will give the plans some credibility.
Advantages of an AHP to Smaller Employers
There are some advantages that come with AHPs, both to the employer and the employees. These include:
- Negotiating power
- Spreading the risk
- Maintaining lower rates instead of lumping them into unverified age groups
- No charging different premiums to employees based on health status
- No charging different rates to employers based on the health status of their employees
- Healthy, younger groups will be fully underwritten
- Self-employed individuals with a few employees and those with no employees are also eligible
- Will not cherry pick or discriminate based on the status of an applicant pre-existing or previous health condition.
There are also some disadvantages. They include:
- Many of these plans might not allow single person groups.
- An individual must be a bona-fide member of a group and pay a membership fee.
The Role Saxon Plays in Helping the Employer
Saxon prides itself as a top provider of AHPs. The company has experts with knowledge of how this system works. Writing these plans for the last four years, Saxon can offer stable rates and consistent, professional assistance.
For more information regarding employee benefits and competitive benefits packages that fit your business strategy, you can contact Jamie Charlton at 513-573-0129 or via email at jcharlton@gosaxon.com.