TAKING CONTROL    Don't let others determine your future Now, more than ever, it's time for benefits producers to take control of their future. During a recent discussion with the principal of an independent benefits agency, we talked about the variety of challenges typically faced by independent agencies. It was a lively discussion and he was very honest about the fact that he faces many of these challenges himself. Not surprisingly, his biggest concern is the financial challenge he faces as commissions start to be reduced and eliminated by carriers. I was encouraged about his openness and honesty regarding his situation. However, my optimism quickly turned to disappointment when he stated, rather emphatically, that he already has a strategy to deal with his primary challenge. He is betting his future, and that of everyone else in the agency, on the hopes that someone will fix his problem. He has convinced himself that either through court challenges and/or additional legislation/repeals, health care reform and the threat it poses to his revenue will be cleaned up. Wow! Here is a business owner, an entrepreneur, someone who has made his own way in the world--waiting for someone else to fix his problem! Click here for the complete article …

MOVING BEYOND SALES    Value-added services is the key to growing Moreton's benefits area (or division?) Health care reform may transform the way Americans receive health benefits from their employers, but don't expect health insurance to disappear--or claims costs to trend down. And employee benefits-related service will be in more demand, not less. Gone are the days when brokers placed employers with health insurance companies and walked away for a year, says Bill Moreton, president of Moreton & Company in Salt Lake City, Utah. Service is the now the value proposition for brokers who specialize in employee benefits and no matter how health care reform resolves, employers will need more and better service from their brokers to understand and manage their future, he explains "In the past, the insurance carriers were the key providers of service and the brokers were the individuals who connected the clients to the appropriate carriers. Today, the broker provides most of the services related to benefits, with the carriers as only one piece of the puzzle," Bill explains. "Employers turn to their brokers for help with the plan design, tough claims, and educating their employees about enrollment. When they need guidance about the latest laws and regulations, we are where they turn." Moreton was founded in 1910 and has grown into one of the largest privately owned insurance brokerages in the Intermountain West area, executives say. The firm has more than 175 employees in three divisions in Salt Lake City; Boise, Idaho; and Denver, Colorado, generating an annual premium volume of more than $600 million. The brokerage has about 60 employees in its employee benefits operations which generate about 40% of total revenues. Click here for the complete article …

HEALTH WATCH    Holistic wellness programs focus on both young and old When I walk into my workplace each day, I'm walking into a diabetic snake pit. I'm sure my employer doesn't intend to do everything in its power to complicate my Type 2 diabetes or create opportunities to raise my blood sugar, but it is a death trap nonetheless. At least once a week, students at Columbia College Chicago where I teach journalism are camped in the entrance, recruiting and raising money for student clubs and programs. They sell candy, doughnuts and pastries, chips and soft drinks. When I tell them I would like to support their cause, but that I am a diabetic and have a carbohydrate-restricted diet, they look blankly at me, unless someone says, "Oh yeah, my grandmother has that. But she cheats sometimes." I usually offer a contribution if they promise to have fruit or protein next time, but college students have notoriously weak memories for information that won't be on a test next week. In my office suite, a kind colleague is likely to have brought bagels (higher carbs than many doughnuts even without the sugar), or homemade cake. My dean is fond of doughnut holes as a meeting snack. Click here for the complete article … ONE PRODUCT SHY OF A SECURE RETIREMENT?    In-plan annuities might supply the missing piece Defined contribution (DC) plan participants are building the foundation of their own retirement plans with the help of the tools they've been given by their plan sponsors. These tools include a large inventory of investment products and a do-it-yourself manual. The discussion of whether plan participants are up to the task usually centers on whether they will save enough money and make good choices with their investments. The consensus thinking is that if participants lack anything, it is advice, not products. With the wide variety of equity and fixed income funds available and automatic rebalancing capabilities, the toolbox looks full. One significant retirement product, however, is generally missing, and until recently, its absence has generated little discussion. Most 401(k)s and other DC plans rarely offer current employees a product that will guarantee a defined lifetime income stream. Such a guarantee can be provided only by an annuity. Click here for the complete article …  Click here to unsubscribe This message was sent by The Rough Notes Company, Inc., 11690 Technology Drive, Carmel, Indiana, 46032 1-800-428-4384