Few employers think their workers understand their benefit packages, which can be corrected by one-to-one benefits counseling sessions during enrollment, a new survey says.
Arthur J. Gallagher & Co. acquired Capital Bauer Insurance Agency, an Albany, N.Y.-based retail insurance broker allowing it to significantly expand its Upstate New York presence.
A Cleveland, Ohio-based business services provider bought the employee benefits and retirement section from Advantage Benefit Planning (ABP), based in Pleasantville, N.J.
A Briarcliff Manor, N.Y.-based insurance company acquired a Wakefield, RI.-based employee benefit consulting and brokerage firm specializing in middle-market businesses.
The defined benefit actuarial consulting operations of PSA Insurance & Financial Services have been sold to a Cleveland-based professional services company.
Marsh & McLennan Agency, a subsidiary of insurance broker Marsh Inc., acquired the employee benefits division of a Marlborough, Mass.-based agency, adding about $600,000 in annual revenue to its middle-market operations.
A St. Louis-based plan administrator disclosed that a delivery service has lost a box of microfilm containing plan enrollment information from the 1960s and 1970s.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.