At its annual OneVoice conference in San Diego on Tuesday, the Financial Services Institute said it is introducing a health care plan for advisors and staff and offering non-health benefits with Prudential Insurance.
“We are the first national trade association to launch a multi-state plan with Humana,” said Chris Paulitz, vice president of strategic programs for FSI, in an interview with ThinkAdvisor.
The plan is being offered to FSI members seeking health coverage for five or more individuals in Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Missouri, Mississippi, Ohio, Tennessee, Texas and Wisconsin.
Plus, advisory groups in these 16 states can add advisors and staff who work in most other states (except for Hawaii and New Hampshire), with some restrictions in California. The earliest start date for these plans is May 1.
FSI says it will work with insurance firms to expand the program to other states nationwide and to broaden the coverage in states with a five-life requirement to a two-life one. (Advisory groups with two to four individuals seeking coverage may benefit from a separate FSI offering available in 44 states, the trade group adds.)
FSI President and CEO Dale Brown said in a statement: “I’m very pleased that, today, we’re taking the first step to help our members overcome the single biggest financial obstacle most of them face.”