​Most health and life insurance companies have some sort of online portal for employees to look at their benefits, for HR to add and remove employees, and for both parties to see how much these benefits cost. These are great until you have multiple carriers you have to login to, then it can get quite confusing and cumbersome. With an enrollment platform, you can not only manage all benefits in one place but you can manage employees, PTO, assets, and much more.

We asked our followers and consultants what their most asked insurance questions are and here we will attempt to broadly answer them. Disclaimer: Every person has a different situation unique to them, some of these answers may not be applicable to you and your situation, please contact your HR or benefit consultant regarding your needs.

Q: Will this voluntary worksite policy pay even if my major medical covers it?
A: In most cases, yes! Worksite benefits include accident, critical illness, cancer, and others. Many of these pay directly to you, the policyholder or member. These policies may have a schedule of payments that are paid to you if something happens, regardless of what your major medical would have paid. The best example of this is the accident policy. Say you slip and fall at home while playing with your children and break your wrist. Your major medical will take care of some medical fees for you and pay the hospital or doctor you go to. However, your accident policy will pay a set amount directly to you. You can use this money towards your major medical co-pays or deductibles or whatever you need to, the money is yours to use at your discretion!

In short, you might want to get life insurance even if you are single. Just because you have no dependents does not mean that someone would not have a difficult time if you were to pass. Funerals cost between $7,000-$10,000 dollars, who is going to pay for that if you were to pass? Your parents? This may be a financial burden for them that they never thought about. Having at least a small life insurance policy will help with this burden. 

If you have a co-signer on a loan, if you were to die, the other person would be responsible for your remaining payments. 

For example, student loans, many adults have students loans left over from college, and without a life insurance policy, your parents would have to finish the payments. A good way to cover these scenarios is to take out a small term-life policy to cover you until your payments are complete. 

If you are young and healthy, taking out a life insurance policy will not cost you much. It can bring you and your current (and future) family peace in mind. If you do not have a spouse now, you can always set your parents has the beneficiaries of your life insurance. Once you are married, you can change the beneficiary to your spouse if you wish.

The only time you may not want to take out life insurance is if you are single, have no dependents, and have enough in savings to cover your funeral costs. However, unless you are in debt or are struggling to build up an emergency fund, it is still a good idea to take out a small policy, especially if you are young and healthy. 

The Red Mountain Benefits Group team is dedicated to helping employers and individuals alike find the best benefits the marketplace has to offer for the best prices. Contact us today if you want to discuss your life insurance options!

As you probably already know, the insurance industry goes through a lot of changes in a short period of time. Not only do prices fluctuate but your benefits can too. At Red Mountain Benefits Group, we like to take a look at our client's benefit package about every 2-3 years to ensure they are getting the best value. Here are a few things we are looking for...

Many carriers offer something called a "rate guarantee" this means that when you purchase insurance through this company, they guarantee that your rates will not change for a certain period of time (usually 1-2 years), after that, you might see a price change. When RMBG reviews benefit packages we are looking to see if your rate guarantee is up and what it may look like once new rates are given by the carrier.

Sometimes carriers might change their benefits or the amount that they are paying out for certain things. We mostly see this in Major Medical plans with the rise of deductibles. For instance, one year your deductible may be $4,000, but the next year, the carrier could change it to $5,000. When RMBG reviews your benefit package we look for these changes and offer suggestions on how to overcome them accordingly.

Most companies do not start out with 100 employees. Red Mountain Benefits Groups works with small companies and big, however, our benefit suggestions may vary on company size. When we review your benefit package, we take into consideration how many employees you have. Sometimes, if a company has grown a lot, they may want to look into group products that could lower the overall cost. If a company is still small, other options are available that best suites employees needs individually. 

It is easy to see how in an ever changing market, benefit solutions for you and your employees can get overwhelming, this is why Red Mountain Benefits Group is dedicated to removing these obstacles so your business can grow. Do you think your benefits need reviewing? Or want to see what else you could add to your benefit package? Contact us for an appointment.