July 2007 Newsletter

PLANNING YOUR 2007 BENEFITS ENROLLMENT

It’s almost that time of year again. We will soon be planning our meetings and enrollment dates for the last half of the year. We know it is early to be thinking about your benefit enrollment, but it’s important to plan ahead so we can make your enrollment a success.

A successful, well-organized voluntary benefits enrollment is key to your benefits package, your time investment and your company’s bottom line.

Our job is to help you put the tools in place to offer value-added benefits, to help your employees find the best benefits for themselves and their families, and to help you, the employer, save FICA taxes.

Keys to a successful voluntary benefits enrollment:

  1. Schedule your voluntary benefits enrollment. If you already have your dates set or have a specific set of dates or times in mind for your enrollment, please contact us soon.
  2. If you plan to add a new benefit this year, please request a proposal in advance. Your voluntary options include dental, vision, cancer, accident, hospital indemnity, cardiac care, critical illness, short-term and long-term disability, term life, universal life, long-term care, flex spending accounts (FSA), health reimbursement accounts (HRA) and health savings accounts (HSA).
  3. Educating your employees about voluntary benefits gives them the knowledge to make the best choices for themselves and their families.

    Our job at NISI is to make sure we provide you with the tools to offer the best education to your employees. We can provide group meetings, payroll stuffers, customized videos, newsletter articles and more. Please remember each group is different, and we strive to tailor a plan that works best for you and your employees. One-on-one enrollments are key to providing the best opportunity for your employees to ask questions and enroll in the benefits that best work for them. One-on-one enrollments should be offered every year.
  4. Post the meeting and one-on-one enrollment dates and times in a place where all employees will see them. Please note which benefits will be offered and if there are any changes. This way, your employees will be more prepared for their voluntary benefits enrollment.
  5. Before your voluntary benefits enrollment begins, please print an alphabetized list of all eligible employees. Also, if you have any special requests or needs, please let us know in advance.

WHAT’S NEW?

  • Tamera Thompkins is your dedicated short-term disability claims processor at USAble Life. You and your employees may contact her at 800-648-0271, ext. 26920 or at tthompkins@usablelife.com.
  • NISI has a new and improved USAble Accident policy to offer your employees. The plan is called Accident Elite, and it pays for accidents that occur both on and off of the job, 24 hours per day.
  • NISI has a new Lincoln Mutual Life insurance policy available to children coming off of a family term life insurance policy. The policy is designed for those who want to continue coverage on children older than age 19. Please note that the family term life policy will cover children age 14 days to age 19, or age 23 if a full-time student.

DID YOU KNOW?

  • If you have not offered voluntary long-term disability to your employees before, you may be eligible to offer guarantee issue. If you have at least 10 employees or 15 percent of the group, whichever is greater, we can offer guarantee issue. This is a wonderful benefit, and guarantee issue is important for those with pre-existing health conditions.
  • Guarantee issue is also available for employees enrolled in the voluntary term life insurance. Please note that Lincoln Mutual Life requires specific percentages of enrollees to offer this benefit.
  • Remember, if you have newly eligible employees and your plans have Guarantee Issue (GI) available, your employees are only eligible for the GI when they are first eligible for the benefit.
  • You may track your short-term disability claims online at www.usablelife.com.
  • You may track your flexible spending account (FSA), health savings account (HSA) and health reimbursement account (HRA) online at www.discoverybenefits.com.

SIMPLICITY TO OFFER NEW DESIGN, DISCOUNTS

The MedAmerica Simplicity Long-Term Care Insurance plan is offering a new benefit design and discounts on the Affiliation and Employer programs. These programs can be employer-funded or voluntary.

Simplicity ii is different from traditional plans. When you become eligible for benefits, you will receive a monthly cash benefit. You can receive your care where you want from whomever you want as long as you remain eligible and need care. There is no pre-approval, no provider bills to submit and no waiting for payments. Simple as that.

Here are more details on the Affiliation and Employer programs.

Affiliation Program

  • Minimum of five employees
  • Minimum participation is one employee
  • 10 percent group discount
  • 10 percent discount for members with a Preferred Health rating
  • Care Partner discount of 40 percent if both purchase, and 20 percent if one purchases
  • No limits on plan design
  • No defined open enrollment period
  • Speed application on cash benefit account of $100,000 or $200,000

Employer Program

  • Minimum of 10 actively-at-work employees
  • Minimum participation is 10 applications from actively-at-work employees answering “no” to four underwriting questions
  • Actively–at-work employees’ spouses qualify for simplified underwriting
  • 10 percent group discount
  • Care Partner rates for couples regardless of whether one or both purchase
  • Online enrollment

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