Ohio firm embraces the role of educator to guide clients through post-recession turmoil and ACA repercussions
The Affordable Care Act didn’t just change insurance requirements for employers and individuals. The comprehensive health insurance reform law also disrupted the way insurance agents and brokers design their businesses.
Not that agents have been isolated from market changes. Group health premiums have been increasing steadily for decades with plan designs evolving as employers attempted to cope with the increases.
But it took a federal law to really rock the insurance agency world.
Giangola Insurance Agency in Ashtabula, Ohio, was founded in 1955 and has been marketing health benefits and related products from its earliest days, says Joe Giangola Sr., CEBS, son of the founder Don Giangola Senior.
LESSONS FOR PLAN PROVIDERS FROM RETIREES AND THEIR ADVISORS
Retirement Income Industry Association looks at asset management and retiree concerns
As more and more Baby Boomers head for the retirement ranks, it might be useful for benefits brokers and plan sponsors to think about what kind of financial security these new retirees are feeling. HR directors tend to measure success by numbers—plan balances, rates of participation, trends in contributions. Maybe if they sent surveys to former employees six months after they retire, it would provide insights that would help improve the communication process with current employees.
To try to understand how effectively retirement plans in general are equipping employees for their lives beyond work, we attended the 10th annual meeting of the Retirement Income Industry Association (RIIA) in September.
