Serving over 200 companies and more than 2000 families since 1988

2882 Sand Hill Rd. Ste. 119 - Menlo Park, CA 94025 - (650) 854-8963 - (800) 564-4476

Posts made in July, 2017

After graduating college, Millennials approach the job market with a keen eye for the positions that best suit them. As an employer, you might be wondering how to attract young, recent graduates to your company. Obviously, that means putting together a comprehensive benefits package that appeals to the younger generations. But what benefits would those be, exactly? First, it’s important to keep in mind that Americans currently hold 1.3 trillion dollars in student loan debt. With the cost of college skyrocketing, most Millennials are entering the workforce deeply in debt. Therefore, much of their concerns will be financially motivated, with an eye toward ensuring continued financial health. When presenting benefits for your prospective workers, it might help to know that 35 percent of Millennials say that they have turned down a job due to insufficient insurance offerings (according to Anthem, Inc). Contrast that with 27 percent of Americans overall who have turned down a job for the same reasons, and it’s easy to see that Millennials care an awful lot about insurance! That might be contrary to what you were thinking about younger workers. According to Anthem, the Millennial generation is actually more likely than the previous generation to engage in long-term financial planning. Not only are they considering issues such as health insurance ; Millennials are attracted to produces such as disability insurance. That might surprise you, but remember that this is a generation that often lives paycheck-to-paycheck, and they know that just one serious accident or illness could devastate them financially. Anthem found that of those Millennials who don’t currently have a disability insurance policy, 53 percent said it was because their company doesn’t offer it. Thirty-two percent said that it’s just too expensive. Other voluntary insurance products might also be valued by this generation. Again, because they are living on a tight budget while repaying those student loans, most Millennials can’t afford the huge deductibles imposed by many health insurance plans. Voluntary insurance benefits are another idea to carefully consider when attempting to attract young, recent college graduates to your company. Many employers make the mistake of offering trendy, wellness-focused options such as in-office massage or yoga classes. While there is certainly nothing wrong with these ideas, particularly since they do tend to lower stress and promote wellness, most business owners would be surprised to learn how practical and bottom-line driven the Millenial generation seems to be. As you put together a package of benefits to offer new workers, give us a call and we’ll walk you through the various benefit options that most appeal to younger...

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Open Enrollment for individual and family health insurance ended on January 31 of this year. So, unless you qualify for a Special Enrollment Period due to your life circumstances or financial status, you won’t be able to make changes to your plan or enroll in a new health insurance plan until Open Enrollment begins again this fall. How do you know if you qualify for a Special Enrollment Period? Ask yourself whether your situation has changed with regard to the following areas: You have gotten married or divorced You have welcomed a new child into your family, through birth or adoption Your income has changed significantly – especially if you’re now eligible for Medi-Cal Your health insurance plan was canceled for any reason You have moved into the state of California You are a member of an American Indian or Eskimo tribe …. and a few other situations relating to a change in household or income level Unless you qualify for a Special Enrollment Period, you must wait until Open Enrollment in the fall, to switch health insurance plans. These dates do not apply to group health insurance plans, which are provided through employers. Those plans are not subject to enrollment periods. Open Enrollment begins November 1 of this year, and runs through January 31, 2018. However, if you want your insurance coverage to begin on January 1 of next year, you need to enroll in the plan of your choice by December 15, 2017. If you wait until January to select a policy, your plan won’t begin until February 1 if you apply by January 15, or March 1 if you apply between January 16 and 31. It’s important to note that the Open Enrollment period is the same for all plans provided through Covered California, as well as all carriers not providing insurance through the exchange. So for those of you who aren’t sure which direction you want to go, make sure to get in touch with us as early as possible after November 1. We can help you compare policies and select the one that best meets your needs and...

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