Month: February 2024

How High Deductible Plans Can Save Your Business Money (Ep. 147)

How High Deductible Plans Can Save Your Business Money (Ep. 147)

Is opting for high-deductible health insurance plans a smart financial move for businesses?

Larry Heller’s latest episode of the Life Unlimited Podcast features Jeff Weiner, CEO of HKM Associates, who brings his extensive experience spanning over four decades in life, health insurance, and financial services. Throughout the episode, Jeff offers invaluable insights into working with businesses to maximize savings through high-deductible plans. He provides comprehensive explanations on the mechanics of these plans and showcases their efficacy in saving costs, employing real-world examples to illustrate their practical application.

Key points covered:

  • Exploring New York’s distinct health insurance market for small and medium-sized businesses and its unique challenges
  • Unveiling the significant savings companies can achieve with high deductible plans through real-life comparisons with traditional plans
  • Emphasizing the importance of understanding the financial implications behind health insurance plans and the role of third-party administrators in managing high deductible plans
  • Plus more insights on transforming your business’s health insurance strategy!

Resources:

Connect with Jeff Weiner:

Connect with Larry Heller: 

About Jeff Weiner: Jeff Weiner, the CEO of HKM Associates has named his company after his wife, Helene and his daughters, Kelsey and Megan. HKM Associates strives to provide excellent service in the areas of Life Insurance, Health Insurance and Financial Services both in the personal and corporate marketplace. Jeff brings extensive knowledge to these areas and has been the recipient of many industry awards in his 40 years in the field.

Nothing makes Jeff happier than supporting organizations which are doing good things in our communities and benefiting the causes closest to his heart. Jeff started his charitable initiatives with the SUNY Albany 24-hour telethon during his college days. Since then, he has made leaps and bounds, held many key positions and raised millions of dollars for over a dozen organizations locally and nationwide.

Jeff’s pay-it-forward attitude has transferred to his daughters who are proud to involve themselves in the causes that speak to them the most. When his daughter, Megan, fell ill with Hodgkin’s Lymphoma in 2011, the family did what they do best, support and get involved. With initiatives like “Like the Night”, “5 and Alive” and participating in organization events through Stupid Cancer and the Leukemia and Lymphoma Society, Jeff and his family were able to help many other struggling families receive benefits through fundraising.

Jeff’s business goal is to be able to sustain himself to focus on his passion of working within the charity world, organizing, and coordinating fundraising events through his networks and providing the benefit to those who need them the most.

An Employer’s Guide to 401k Plans: A Four-Part Series (Part II)

An Employer’s Guide to 401k Plans: A Four-Part Series (Part II)

Are you confident in your mastery of 401k fiduciary responsibilities?

Continuing the engaging Employer’s Guide to 401k Plans series with Larry Heller, CFP®, CDFA®, this second installment dives deeper into the crucial topic of 401(k) fiduciary governance. Building on the foundational knowledge from Part I, Larry guides listeners through the intricate responsibilities and best practices essential for effectively managing a 401(k) plan.

Larry Discusses:

  • The broad scope of fiduciary responsibility, extending beyond plan sponsors to key employees involved in plan management
  • The crucial role of adhering to the plan document as the governing ‘bible’ of the plan
  • Common pitfalls in 401(k) management, such as failing to timely notify eligible employees, and the significant consequences of these oversights
  • The pivotal role of 401(k) plans in employee retention and attraction, highlighting their importance as a core employee benefit
  • Investment oversight essentials, including the need for diversification, low costs, regular reviews, and the advantages of model portfolios
  • The necessity of regular benchmarking and impartiality in selecting service providers
  • The importance of education and effective communication about the plan to employees
  • And much more!

 

Resources: 

Connect with Larry Heller: