El Dorado Hills, CA (PRWEB) July 30, 2014
IntelliQuote, a top rated online life insurance agency, is pleased to the announce the launch of an Affordable Care Act (ACA) educational initiative. Through the effort, IntelliQuote has trained their staff of license life insurance advisors to address the unique needs of consumers who are seeking information about private life insurance due to changes in employer provided benefits.
Founded in 1997, IntelliQuote has grown into one of the largest and most respected online life insurance agencies in the United States. Committed to providing unparalleled customer support and instantaneous online life insurance quotes, IntelliQuote has earned a reputation as the nation’s online agency of choice. Having served online consumers for nearly 2 decades, the IntelliQuote leadership team recognizes the importance of catering to the evolving needs of modern consumers. The launch of their latest educational effort is yet another example of IntelliQuote’s ongoing commitment to consumer advocacy through education.
There has been plenty of confusion surrounding the Affordable Care Act since it first rolled out early this year. In fact, the IntelliQuote team has connected with many consumers who were under the impression that the ACA also provides life insurance benefits; a misconception that they are working to dispel. Though the ACA program focuses solely on healthcare insurance, employer provided life insurance benefits have been impacted in many cases. In fact According to a newly released LIMRA Secure Retirement Institute (LIMRA SRI) study, 43 percent of U.S. employers report that the Affordable Care Act has affected their current retirement benefits strategy while 45 percent expect the ACA to impact their retirement plans down the road. Of those who report that ACA has already changed their retirement benefits strategy, fifty-five percent are spending less on retirement benefits and shifting the responsibility to their employees.
As a result of many of the changes being rolled out through the Affordable Care Act, health insurance premiums are on the rise. In addition to the 3.8% ACA surtax, additional factors include: expanded coverage for children until the age of 26, the reduction of copays and more. As employers face the difficult choice of paying higher health insurance costs or dropping all benefits, many are choosing the latter. This is particularly true for employers with 2-50 employees who will not face a financial penalty for ceasing coverage.
The widespread impact of the ACA on employer provided benefits has led many consumers to seek private health and life insurance protection. While some employees are choosing to drop employer provided healthcare due to rising costs, others are losing their coverage altogether. In either case, the loss of healthcare coverage typically results in the loss of employer provided life insurance as well.
In recent months the leadership team at IntelliQuote has reported a rise in inquiries from those who are shopping out private coverage due to changes in employee benefits. Once the IntelliQuote team noted the rising demand for information surrounding life insurance and the implications of the Affordable Care Act, they decided to take action. In the past few weeks all IntelliQuote advisors have been trained to cater to the unique needs of consumers seeking private life insurance after changes to employer provided benefits.
“With so many questions circulating about the implications of the Affordable Care Act, we felt that it was our duty to do our homework,” said Gary Lardy, President and CEO of IntelliQuote. “It’s our goal to help those consumers facing the often daunting task of shopping their own insurance benefits. Many of these people have been depending on employer provided coverage since they joined the workforce and they simply don’t know where to start.”
In addition to their direct consumer education initiative, IntelliQuote has also been working to educate the general public about their private life insurance options. Through both their highly influential social media channels and the company’s widely read Life Insurance Blog, IntelliQuote has been addressing the issue head-on.
“We are always pleased to be able to identify a consumer need and deliver upon it with immediacy. In this case, it’s simply a matter of empowering consumers through education,” added Lardy.
The lntelliQuote team has already received an overwhelmingly positive response to their efforts. Early reports are already proving the initiative to be a success. IntelliQuote advisors have already helped hundreds of consumers secure the private coverage they now need. This effort is yet another example of IntelliQuote’s continued commitment to serving online consumers. Watch for more exciting announcement from the IntelliQuote team in the coming months as they continue to cater to their customers’ evolving needs.
Headquartered in El Dorado Hills, California, Intelliquote is a highly respected innovator in the online life insurance industry. Offering instant quotes, unrivaled customer service and access to the most competitive life insurance products on the market; IntelliQuote is the undisputed leader in the space. For more information, visit http://www.intelliquote.com or call 1-800-963-6405.