ST. PAUL, Minn.—Earlier this month, Governor Tim Walz appointed Yusra Arab to MNsure’s Board of Directors. Governor Walz also reappointed Dr. Daniel Trajano to serve a second term representing the areas of health administration, health care finance, health plan purchasing, and health care delivery systems. Both board members’ terms will expire in 2029.

Yusra Arab will represent the interests of consumers eligible for public health care program coverage. Arab currently works with individuals facing housing instability. She previously served as a policy aide for the Minneapolis City Council and led the B.R.A.V.E. Foundation, a nonprofit empowering Somali American youth in the Twin Cities.

“Yusra Arab brings a strong background in serving underrepresented communities. Her experience working in public policy and health equity advocacy provides a critical perspective to MNsure’s mission to ensure all Minnesotans have the security of health insurance,” said CEO Libby Caulum. “We welcome her to the board and look forward to her years of service.”

“We are also pleased to have Dr. Trajano reappointed to a second term,” said Caulum. “His experience as a physician and dedication to quality, innovation, and public health equity help to ensure that MNsure is focused on systems and policy improvements that promote health coverage access and affordability.”

Board chair and vice chair electedOn June 18, the board elected David Fisher as chair of the MNsure Board of Directors. Chair Fisher, a retired attorney, professor and government official, was first appointed to the MNsure board in 2020 and has served as vice chair since 2023.

The board elected Dr. Daniel Trajano to serve as vice chair.

“We look forward to Chair Fisher and Vice Chair Trajano’s leadership,” said Caulum. “Their commitment to good governance and strategic planning will help MNsure continue to stay focused on our mission to ensure all Minnesotans have the security of health insurance as we navigate dynamic changes in the health policy landscape in Minnesota.”

Chair Fisher takes over from Stephanie Stoffel, who has served as board chair since 2023.

“Outgoing Chair Stoffel led the board through a pivotal time for the health care industry and for MNsure,” added Caulum. “Her thoughtful, engaged direction has been instrumental in increasing health insurance access in Minnesota, and in MNsure’s efforts to improve our technology systems and customer service operations. We thank her for her leadership and her service to Minnesota and look forward to continuing our work with her as she finishes out her term on the board.”

MNsure board members are appointed by the governor through the state's open appointments process and confirmed by the Minnesota Senate and House of Representatives. The commissioner of the Minnesota Department of Human Services or their delegate is a standing member. Board members serve staggered four-year terms and are limited to two terms of service. All appointed members must have demonstrated that they do not have conflicts of interest. Additional information about the board of directors is available on the MNsure website.
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MNsure is Minnesota's health insurance marketplace where individuals and families can shop, compare and choose health insurance coverage that meets their needs. MNsure is the only place you can apply for financial help to lower the cost of your monthly insurance premium and out-of-pocket costs. Most Minnesotans who enroll through MNsure qualify for financial help

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​Now is the time to review and compare your current Medicare health or Part D plan with other available options!

Plans change every year, including:
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Don’t miss out on making sure your coverage fits your needs for the year ahead. Any changes made during this period will take effect on January 1.
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​Life insurance is a crucial component of financial planning, providing a safety net for your loved ones. However, the risk of a lapsed policy can undermine its purpose. To ensure the continuity of life insurance coverage, it’s essential to be proactive. Here’s a guide on how to prevent lapsed life insurance policies.

Understanding Lapse and Its Consequences. A lapsed life insurance policy occurs when the policyholder fails to pay the required premiums within the specified grace period. The consequences of a lapsed policy can be severe, leaving your beneficiaries without the intended financial protection. To prevent this, consider the following strategies.
For the timely payment of premiums, it is recommended that you set up automatic payments and keep a detailed record of payment due dates. Aligning premium payments with your salary schedule can also provide financial convenience.

Regularly assessing your life insurance policy’s performance is crucial in avoiding unexpected lapses. Take the following steps to stay informed about your policy’s status:

• Request an annual statement from your insurance provider.
• Understand the cash value and any available options for utilizing it.
• Stay informed about changes in policy terms and conditions.

Utilizing Automatic Premium LoansSome life insurance policies offer an automatic premium loan feature, which allows the insurer to use the policy’s cash value to cover unpaid premiums. While this can prevent immediate lapses, it’s essential to understand the implications:

• Review the terms and interest rates associated with automatic premium loans.
• Be aware that unpaid loan amounts can reduce the death benefit for beneficiaries.
• Regularly check the impact of automatic premium loans on policy performance.

Exploring Grace Period OptionsMost life insurance policies provide a grace period, allowing policyholders additional time to make premium payments without policy termination. Understanding and utilizing this grace period can be crucial in preventing lapses.

• Familiarize yourself with the length of the grace period provided by your policy.
• Use the grace period judiciously to avoid unnecessary late fees.
• Communicate with your insurance provider if you foresee challenges in making timely payments.

Regular Policy Reviews and UpdatesLife circumstances can change over time, which may lead to changes in your life insurance needs. Therefore, it is important to regularly review and update your policy to ensure that it aligns with your current financial situation and goals. One way to do this is to conduct a thorough review whenever major life events occur, such as marriage, birth, or career changes. Additionally, you should consider increasing your coverage if necessary to accommodate changes in your financial responsibilities.
Safeguard Your LegacyPreventing lapsed life insurance policies requires a proactive approach, including regular premium payments, policy monitoring, exploring available features, utilizing grace periods, and conducting periodic policy reviews. Contact your local agent today to discuss how our agency can help you secure a robust and uninterrupted life insurance policy for the well-being of your loved ones. Our agents are ready to assist you regarding your life insurance details and ensure that your coverage remains intact.

​​Article originally posted on www.insuranceneighbor.com

Once every four years, we get to experience the unique event of a leap year, which adds an extra day to our calendars, making February a 29-day month. As we approach this rare occurrence, it’s worth drawing a parallel between it and the challenge of finding the right employees for your company. Just like a leap year, securing top talents doesn’t happen every day, but it’s crucial to business success. Therefore, it’s essential to treat your employees right, provide them with the right group benefits, and encourage their loyalty.

The Rarity of Finding the Right Employees

Much like a leap year, where an extra day is a rarity, finding the right employees who align with your company’s values, goals, and culture can be a challenge. Once you have exceptional team members on board, it’s crucial to foster an environment that encourages their loyalty and commitment.

The Role of Group Benefits in Employee Satisfaction

Investing in your employees’ well-being and job satisfaction is a strategic move that can pay off in terms of productivity, loyalty, and overall company success. Group benefits play a significant role in shaping the employee experience.

• Health Insurance: Comprehensive health insurance coverage not only provides financial protection for employees but also contributes to their overall well-being.
• Retirement Plans: Robust retirement plans, such as 401(k) options, show employees that you care about their long-term financial security.
• Dental and Vision Coverage: Beyond health insurance, offering dental and vision coverage enhances the overall benefits package, addressing diverse aspects of well-being.
• Flexible Spending Accounts (FSAs): FSAs allow employees to set aside pre-tax dollars for medical expenses, providing financial flexibility.
• Mental Health Support: Recognizing the importance of mental health, providing access to counseling services or Employee Assistance Programs (EAPs) contributes significantly to overall employee well-being. A mentally healthy workforce is more resilient and engaged.

Encouraging Employee Loyalty through BenefitsOnce you’ve attracted top talent, retaining them becomes a priority. Group benefits can be a powerful tool in fostering employee loyalty.

• Job Satisfaction: Employees who feel supported through benefits are more likely to be satisfied with their jobs, contributing to overall workplace happiness.
• Reduced Turnover: Offering competitive benefits reduces the likelihood of employees seeking opportunities elsewhere, leading to lower turnover rates.
• Enhanced Attractiveness: A comprehensive benefits package enhances your company’s attractiveness to prospective employees, facilitating the recruitment of top talent.
• Employee Recognition Programs: Implementing employee recognition programs as part of the benefits package acknowledges and rewards outstanding contributions. Recognized employees are more likely to feel valued and remain committed to the organization.
• Opportunities for Advancement: Providing opportunities for career advancement and skill development demonstrates a commitment to employees’ professional growth. This commitment fosters loyalty as employees see a long-term future within the company.

How Our Agency Can Help Elevate Your Employee ExperienceAs you embark on the journey of providing exceptional group benefits for your employees, our agents are here to guide you through the process. Whether you are looking to revamp your current benefits package or customize a new one, our agency is dedicated to tailoring solutions that meet your unique needs and the needs of your employees. Call our agents today to explore how we can elevate your employee experience, fostering a workplace where loyalty and success thrive. Your local agent is ready to help you make the leap towards a brighter future for your company and your team.

​Article originally posted on www.insuranceneighbor.com