Tag Archives: Obamacare

Are Embedded If Statements Keeping You Up at Night?

If you clicked on this blog, chances are you either love Microsoft Excel, work in a risk based environment (such as insurance) or are just so confused by the title you thought you would explore the article for further insight. In any case, we’ll start with: what is an “embedded if statement?” Well for starters, it is one of the most confusing Excel formulas out there. These formulas are often avoided due to their complexity and messiness, but what people don’t understand, is how much “embedded if statements”  represent real life. Have you ever laid in bed at night thinking: “Did I lock the front door? What if I didn’t lock the front door? What if a robber comes to my front door and is able to open it? What if they steal my TV? What if I can’t afford to buy a new TV? Would insurance cover this claim? Did I pay the cable bill? Why can’t I fall asleep?”… Now that you’re thoroughly stressed out, consider this: think about a world where the future doesn’t depend on the past or a situation where there is effect without cause…kind of impossible, no? For example, would you still have a headache right now if you didn’t start reading this blog? The point is that the world is made of a gazillion “if statements,” each one building on the next to come up with a specific outcome. Sometimes the outcome is carefully executed by a tightly organized plan and sometimes it is more random, but nonetheless there is a cause and there is an effect. If you Google the term “embedded if statements” you will see a lot of references to the word “nested.” The idea that multiple conditions setup within each other creates an outcome, or in the Excel reference, an answer! Continue reading Are Embedded If Statements Keeping You Up at Night?

Educating Employees on Voluntary Benefits

By: Jim Kinney, Integrated Benefits Practice Lead at Digital Benefit Advisors

Offering voluntary benefits is a great way to enhance your benefits package, differentiate from competitors, and increase employee satisfaction—all with little impact on your budget. While employers may choose to offer numerous types of voluntary benefits that can deliver convenience and value for employees, many employees do not understand the advantages of these voluntary benefit options, or are unclear how they work. Educate your employees on the advantages of these voluntary benefits so that you both reap the rewards. Continue reading Educating Employees on Voluntary Benefits

Trends in Employer Benefits: Do You Have the Right Broker?

In the 1993 movie, Groundhog Day, Bill Murray’s character, Phil Connors, finds himself living the same day over and over again. In the short-term, he relishes the change and uses it to his advantage, but he later comes to the realization that he is doomed to spend the rest of eternity in the same place, seeing the same people and doing the same thing every day. In one scene, Phil asks someone: “What would you do if you were stuck in one place and every day was exactly the same, and nothing that you did mattered?”

I have often equated the premise for this movie to the traditional work conducted by benefits brokers.  Many meet the client once a year with a medical renewal that has a double digit, with some plan design changes, and with a spreadsheet of other carrier rates to show the customer. Oftentimes, employers choose the lowest cost plan regardless of carrier, communicate the changes to the employees, and move on. The same thing happens the next year…and the next…and the next…you get the picture! Continue reading Trends in Employer Benefits: Do You Have the Right Broker?