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AFLAC, American Heritage, Colonial etc


GBurns

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Does anyone have any idea (or reference source) of how many employers are allowing the supplemental accident & health plans other than Cancer plans that are being sold?

The main plans are apparently the Sickness & Accident and the STD plans.

It would be nice to find out employer paid versus employee paid and pre-tax versus after tax premium patment.

I thought that these plans were quite popular, but during this week alone I have had 2 benefits attorneys fron top 100 (possibly top 50) law firms and 1 HR Director at a college tell me that they have never heard of these plans and were not aware that such plans could even exist that paid benefits for injuries etc.

George D. Burns

Cost Reduction Strategies

Burns and Associates, Inc

www.costreductionstrategies.com(under construction)

www.employeebenefitsstrategies.com(under construction)

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GBurns, almost all of my "blue collar" clients have been approached by "the Aflacs" and many have gone with them If the health insurance agent pitches them (and they have a high commission incentive to do so) the employer will usually buy in. Plus, they advertise "free section 125 services". It is very hard to compete with "free". I agree that my lawfirm, cpa firm and private school clients do not have these offerings.

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Voluntary benefits have been popular with smaller companies that do not have staff (and/or budget) to administer more than basic employee benefits. In additiona, many public school systems, prison systems and state agencies are voluntary benefits clients.

All of these companies offer various voluntary benefits using payroll deduction. They all started their businesses selling cancer and other disease-specific coverages. Now they offer coverages for accident insurance, short-term disability, hospital care insurance, dental and life insurance. However, my personal opinion is that the efficacy of some of these coverages is questionable.

Of the companies mentioned, AFLAC probably has the largest share of the market. They have over $30billion in assets and cover over 40 million lives.

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