HORAN Ranked #3 Largest Employee Benefits Provider in Cincinnati Business Courier

May 29, 2015 – The Cincinnati Business Courier released its list of the largest employee benefit providers in the Tri-State. HORAN was named the third largest, moving up two places from last year.

The firms were ranked by total local benefit consultants on staff. 

This move in rank is directly attributed to the growth at HORAN. HORAN’s strategy is to create centers of expertise for three businesses - life insurance/estate planning, corporate health benefits and retirement planning. 

This approach has been very successful. From 2009 to 2014 we added 38 new professional positions, growing our employee base by 54%. 

Today over 500 companies look to HORAN for guidance on their employee benefits, over 200,000 individuals depend on HORAN for their Health, Wealth & Life needs and over $1.5 billion of life insurance is in force. Additionally, HORAN has $1.3 billion in financial assets under management and advisement, collectively.

Additional companion story focused on HORAN CEO Terry Horan.

In that article Terry discussed some benefits for employees that will hold the most value over the long haul. He stated that it’s important for companies to consider a supplemental executive retirement plan and deferred compensation to ensure adequate income in later years.

“Executives are generally looking to replace 65% to 85% of their pre-retirement salary in order to sustain them through retirement,” Terry explained in the paper. “For that to happen a combination of benefits need to be packaged.”

Other benefits to consider are:

  • Supplemental Executive Retirement Plan – Depending on the age of the employee, it’s common for 10%-25% of the executive’s compensation to fund such a plan. These plans are very flexible and can be tailored to meet each person’s exact needs.
  • Long-term Nursing Care Insurance – The coverage is expensive, but not having it could prove more expensive. Currently, the cost for a private room in a long-term facility is $250 per day, totaling $90,000 a year. These policies can also cover in-home care.

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