As the delta variant of COVID-19 surges, Wade Symons, a partner at Mercer Health, says employers are now looking at possible health insurance premium surcharges for employees who are not vaccinated. In a recent post Symons says:
… surcharges are a potential option, and we expect more employers to explore their viability. Employers are looking for options, but with labor shortages, vaccine mandates may remain a bridge too far. Adding a surcharge for the unvaccinated to a vaccine incentive program may be the next trend to gain momentum as employers seek to safely return employees to worksites and get their businesses back to normal.
FREE
Giveaway ONLY for Agents & Brokers
Today we have a giveaway only for agents and brokers. The first agent/broker who emails associate publisher Naama O. Pozniak at naama@rightplan.com will receive a code for FREE admission to the upcoming BenefitsPro Broker Expo in San Diego August 16-18! Email now if you’re interested! Check out the Expo agenda here. Registration info here.
NAIFA
Life Insurance Awareness Zoom Event
NAIFA will host a life insurance awareness event with David McKnight, Author of “The Power of Zero” and Faisa Stafford,CEO of Life Happens. The event will be via Zoom on AUGUST 26, 11:30 a.m. – 1:30 p.m. Register for the event here.
FINANCIAL PLANNING
AmEx Launches ‘My Financial Plan’ App
In a move deemed ‘back to the future’ because it makes some industry people think American Express is getting back into the wealth management space, American Express launched a new app called My Financial Plan. This is what the company told Fintech for Advisors:
“We are not entering the wealth management space with My Financial Plan,” wrote Stephanie Schultz, head of emerging strategic partnerships, in an email. “What we are doing is democratizing financial planning to those for whom it’s been previously cost prohibitive, or who simply prefer to use a digital solution.”
Still, Fintech says AmEx is “tiptoeing back into financial planning” with the new digital tool aimed at a short-list of card carriers. Read more here.
COLLEGE STUDENTS
NAAIA Scholarship Now Accepting Applications
The National African American Insurance Association is accepting applications for its JL Tillman Endowed Scholarship Fund, which awards scholarships to help African-American students further their education in insurance, risk management, business, IT, actuarial science, finance or marketing. Deadline is October 1. Click here to learn more about this opportunity!
EDITORIAL COVERAGE
Cal Broker Surveys
California Broker magazine publishes a series of editorial surveys in which thought leaders and providers get to share wisdom and info with readers. Our survey lead is Thora Madden and she puts together a host of surveys — dental, small group, large group, voluntary benefits and more. If you represent a provider or if you have questions about your company being included in this survey, please reach out to Thora directly: Thora@calbrokermag.com.
SENIOR SUMMITS
Virtual Event Coming Up
The California State Medicare Expo will be virtual August 26-27. Register here. The theme is “Unmasking Medicare.”
In Person at Pechanga
The Senior Summit groups (IEAHU, OCAHU and SDAHU) will be hosting their 9th Annual event August 31st-September 2 LIVE at Pechanga Resort Casino. Register now for 2021 Senior Summit: Chart Your Course & Navigate into the Future.
DCAHU Summit is Back
Desert Cities Association of Healthcare Underwriters have announced they are back for their in-person medicare conference on September 16! The event will take place 9am-3:30pm a the Villa Portofino Clubhouse in Palm Desert. Lots of CE, networking, prizes and more! Register here.
The Los Angeles Association of Health Underwriters will hold its Medicare AEP Kick-off Summit in person Sept. 30 at Skirball Cultural Center. Guest speakers so far include:
- Paul Bauer – Region 9 CMS
- Brad Miles
- Barry Sikov
- Paul Davis
VISION
Ready for an Online Vision Exam?
Industry folks know that virtual health care is definitely here to stay. But you may be surprised to hear that it’s not just routine doctor’s visits. Your eye doc may be coming to you via Zoom (or something like it) too. According to Employee Benefit News, the vision industry is bracing for radical change with virtual eye exams. According to EBN:
Millenials have a reputation for being “industry killers,” which at times is a convenient punchline, but the trendlines for telemedicine aren’t a laughing matter. Nearly three out of four workers under 40 say having access to technology and tools for virtual visits would make them more likely to schedule a routine eye exam.
The industry will embrace this because preventative healthcare keeps workers healthy, productive and happy!
LIFE
LIMRA: 2021 Life Insurance Sales Forecast Looks Better than Expected
LIMRA recently updated its sales forecast for U.S. retail life insurance for 2021. According to LIMRA, the original forecast needed to be updated because three COVID-19 vaccines were given emergency approval and distributed, two federal relief packages were passed and a last-minute change to life insurance tax law was implemented. These factors, coupled with stronger economic conditions and unprecedented consumer interest in life insurance, have led LIMRA to improve its 2021 sales forecast:
In the first quarter 2021, total individual premium jumped 15% and the number of policies sold increased a record-breaking 11%. With that backdrop, LIMRA expects the U.S. life insurance market to grow between 7% and 11% in 2021, compared with 2020 results. All product lines’ premiums except fixed universal life (UL) are expected to improve, with whole life, indexed UL and variable UL projected to experience the largest growth.
EVENTS
- BenefitsPro Broker Expo, in person in San Diego, August 16-18. Save 15% with promo code RIGHTPLAN. Agenda here, register here.
- 9th Annual Senior Summit: Chart Your Course and Navigate Into the Future, in person at Pechanga Resort & Casino in Temecula, August 31-September 2. Online registration is open through August 19. Register here.
- California State Medicare Expo: Unmasking Medicare, virtual, August 26-27. Register here.
- American Association for Medicare Supplement Insurance, National Medicare Supplement Insurance Industry Summit, Sept 8-10, in person at Schaumburg Convention Center, Chicago area. Info here.
- DCAHU Senior Summit, in person September 16, Register here.
- LAAHU Medicare AEP Kickoff, in person September 30. Sponsorship info here. Register here.
- SIIA 41st Annual National Educational Conference & Expo, In-Person & Virtual, October 3 – 5, JW Marriott, Austin, TX. Info here.
