Latest / Cyrus Webb's tracks / The Hartford's Laura Marzi shares tips for employee benefits on Conversations LIVE

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The Hartford's Laura Marzi shares tips for employee benefits on Conversations LIVE · Cyrus Webb's tracks

• 0:00
  Speaker 1: Hello, everyone, and welcome back to Conversations Live. I'm your host,
• 0:02
  Speaker 1: Cyrus Webb. Glad you all could join us once again
• 0:04
  Speaker 1: for a radio audience tuning in at WYED 94.1 FM
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  Speaker 1: and WYEDonline.com. We're glad that you all can be with us. Also,
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  Speaker 1: join us online worldwide via our podcast at iHeartRadio and
• 0:14
  Speaker 1: Amazon Music, as well as through Conversations Radio Network. We're
• 0:17
  Speaker 1: glad you all could be with us as well. Well,
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  Speaker 1: it's almost benefits enrollment season, and for many Americans, it
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  Speaker 1: is a time to make decisions that can have a
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  Speaker 1: major impact on their financial future. But many people still
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  Speaker 1: aren't sure which benefits they actually need, and that could
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  Speaker 1: mean leaving valuable coverage on the table. Well, to help
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  Speaker 1: you out with that, we're excited to welcome Laura Marzi
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  Speaker 1: to our broadcast today. Laura is the Chief Marketing Officer
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  Speaker 1: of Employee Benefits at the Hartford. She's going to share
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  Speaker 1: with you guys some tips that can help making the
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  Speaker 1: benefit decisions a lot more easier this year. Laura, thank
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  Speaker 1: you again for stopping by. I really appreciate it.
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  Speaker 2: Great to be here. Thank you.
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  Speaker 1: Laura, this is an interesting topic for our audience because
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  Speaker 1: a lot of times we do just And I remember
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  Speaker 1: these days, just check boxes, you know, from one year
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  Speaker 1: after the other when it comes to benefits. What is
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  Speaker 1: the first question that we should be asking ourselves before
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  Speaker 1: we enroll this year?
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  Speaker 2: Yeah, before we get into the questions, what you're referring
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  Speaker 2: to is what we call the rollover rut. Our future
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  Speaker 2: benefits study found that three out of four employees actually
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  Speaker 2: keep the same benefits year after year, even if their
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  Speaker 2: lives have changed. So it's really important to remember that
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  Speaker 2: benefits overall just aren't static. And employers can change their
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  Speaker 2: benefits and coverage for you. And that means deductibles, provider networks,
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  Speaker 2: all available benefits can change. So it's really worth taking
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  Speaker 2: a fresh look now that we're in enrollment season. So
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  Speaker 2: first question, before you check those same boxes, you need
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  Speaker 2: to ask yourself, should I keep the benefits I chose
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  Speaker 2: last year? The average employee is probably going to spend
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  Speaker 2: less than eight minutes making benefits decisions at enrollment time.
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  Speaker 2: I am pretty sure that's less time than most people
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  Speaker 2: spend trying to pick out a movie or a TV
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  Speaker 2: show to watch. And we all know that every dollar matters,
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  Speaker 2: and you don't want to leave money on the table.
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  Speaker 2: So ask yourself, is this my big moment to maximize
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  Speaker 2: my benefits and not just renew them? Because we don't
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  Speaker 2: want you to get stuck in the rollover rut.
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  Speaker 1: That is a really good point, and it's something all
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  Speaker 1: of us I have to be so concerned about Laura.
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  Speaker 1: I'm so glad you mentioned that because, again, a lot
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  Speaker 1: of times we're just rushing. We're not even thinking about it.
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  Speaker 1: We just think, okay, I'll just do what I've always
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  Speaker 1: done instead of thinking about the changes that have happened
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  Speaker 1: in our life. So I appreciate that point. So when
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  Speaker 1: does it make sense to update your benefits instead of
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  Speaker 1: sticking with what you've already had?
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  Speaker 2: Sure. So once you understand what's changed in the coverage
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  Speaker 2: your employer is going to offer you, the next question
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  Speaker 2: you ask yourself is, well, what has changed in my life?
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  Speaker 2: And do my current benefits still make sense? Think about it.
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  Speaker 2: Did you get married? Are you planning for a baby?
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  Speaker 2: Maybe you switched jobs, or maybe you just scheduled a
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  Speaker 2: medical procedure. That means your benefits deserve a second look.
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  Speaker 2: You could be leaving important benefits and money on the table.
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  Speaker 2: And if you've recently moved off your parents' insurance for
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  Speaker 2: the first time, you definitely owe it to yourself to
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  Speaker 2: study what benefits are available to you at work. It
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  Speaker 2: is not your parents' insurance anymore.
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  Speaker 1: You know, Laura, I think when we think about benefits,
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  Speaker 1: a lot of times our attention automatically goes to medical,
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  Speaker 1: even though there's so much more involved. But what should
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  Speaker 1: we do when it comes to thinking about the medical
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  Speaker 1: plan that we have and what mistake can we avoid?
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  Speaker 2: Yes. So one thing that people don't really understand is
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  Speaker 2: that their medical plan might not cover everything. And as
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  Speaker 2: we all know, life's getting more expensive. So the last
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  Speaker 2: thing you need is an accident or a serious illness
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  Speaker 2: or a hospital stay to derail your budget. So the
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  Speaker 2: third question everyone should ask, does my medical plan provide
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  Speaker 2: everything I need? Because the truth is that even with
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  Speaker 2: the best medical plans, you can have out-of-pocket costs like
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  Speaker 2: deductibles and co-pays and other expenses. That is where supplemental
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  Speaker 2: health benefits come in. I like to think of them
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  Speaker 2: as the unsung heroes of benefits, and frankly, they're quite
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  Speaker 2: often overlooked. maybe because folks get intimidated when they see
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  Speaker 2: names like accident insurance, critical illness insurance, and hospital indemnity
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  Speaker 2: insurance as plan options. But the reality is that these
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  Speaker 2: are important coverages designed to work alongside your medical plan,
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  Speaker 2: giving you cash benefits you can use however you need.
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  Speaker 2: This is cash for groceries, cash for gas, cash for
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  Speaker 2: transportation while you're dealing with a medical event. And you
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  Speaker 2: can think of them like a financial safety net that
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  Speaker 2: helps you manage your costs so you can focus on
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  Speaker 2: what matters most.
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  Speaker 1: These are really good questions for our audience to be
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  Speaker 1: able to think about, especially as we find ourselves in
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  Speaker 1: benefits enrollment season. That's why we're glad to have you
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  Speaker 1: here with us, Laura. Again, everyone, Laura Marzi has been
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  Speaker 1: our guest, the Chief Marketing Officer of Employee Benefits at
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  Speaker 1: the heart for helping you guys with three questions you
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  Speaker 1: should be asking during enrollment season, even before you start
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  Speaker 1: checking any boxes. Laura, where can our audience go if
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  Speaker 1: they're feeling overwhelmed by this process or even just need
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  Speaker 1: more information?
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  Speaker 2: So first of all, you've got this, everybody has the
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  Speaker 2: opportunity to break the rollover rut, but you need to
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  Speaker 2: give yourself some time to review your benefits options. And
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  Speaker 2: I mean, all of them. So don't fast forward after
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  Speaker 2: you've checked medical and dental, take a look and see
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  Speaker 2: if you've got accident hospital indemnity or critical illness available
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  Speaker 2: to you. My big thought here is that it's not
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  Speaker 2: about being perfect. It's about being covered and not leaving
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  Speaker 2: money on the table. And if you have questions, you
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  Speaker 2: should talk to your HR rep and also go to
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  Speaker 2: your company's benefits website. We also have a lot of
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  Speaker 2: great resources and information available on theharford.com to support you
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  Speaker 2: this enrollment season.
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  Speaker 1: We'll make sure to link that up as well. Laura,
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  Speaker 1: thank you again for the great work you guys are
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  Speaker 1: doing there at the Harper, but also for spending some
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  Speaker 1: time with us and looking forward to having you back
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  Speaker 1: on the program again. Appreciate it.
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  Speaker 2: Thank you.
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  Speaker 1: More than welcome. And we think your audience are tuning
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  Speaker 1: in to another great segment. Conversations Live, again, part of
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  Speaker 1: a news segment here at WYAD. Until next time, I'm
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  Speaker 1: your host, Sarah Swift. As always, enjoy your day, enjoy
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  Speaker 1: your life, enjoy your world. Thank you for being with
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  Speaker 1: us here at Conversations Live, and it's going to make
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  Speaker 1: today amazing. Take care.