The Olson Group Serves Clients’ Healthcare Needs 2/2/16 02/02/16 12:58:05 AM
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Tim Olson says one of his company’s biggest challenges is health care reform. He tells his clients, “We’re here to help.”
Chamber Award Winner Eyes Growth
The Olson Group Serves Clients’ Healthcare
Needs, Especially ‘Sandwich Generation’
By Dan McCann
The Daily Record
Tim Olson and his team at The Olson Group have a message for members of the so-called “Sandwich Generation” and their employers: We’re here to help.
“Wedged between parenting their children and taking care of their aging parents, the Sandwich Generation has a lot of concerns and needs when it comes to workplace benefits,” says Olson, CEBS, CMFC, founder and managing partner of The Olson Group, the Greater Omaha Chamber’s Small Business of the Month for February.
An employee benefits company offering retirement and health-and-welfare plans for employers, The Olson Group currently works with more than 200 employers participating in 500 employee benefit plans. All told, those plans cover more than 20,000 employees throughout Nebraska, Iowa, Missouri and Kansas.
“Our focus has always been about our clients,” Olson said. “We offer the personal touch where our staff makes time for each client [or employee of our client] on any question they may have.”
He continued: “We work with our clients as a quality partner; not as a vendor, but as a consultant who helps them in all areas of their business.”
A 35-year veteran of the employee benefits industry, Olson started his career – and spent the next 22 years – with an employee benefits company in Indianapolis, Ind. In 2003, he formed The Olson Group, retaining 95 percent of his previous clients. One of the company’s biggest challenges recently? Health care reform.
“In 2011, we decided to embrace it and become an expert in the field,” Olson explained. “We hired two knowledgeable staff members from Blue Cross Blue Shield of Nebraska who are experts in health care reform. We work together to ensure our clients are compliant and aware of all the changes that are happening each year in regards to regulation.”
The firm has also taken a keen interest in catering to the Sandwich Generation. According to a Pew Research Center study, “14 percent of adults in their 40s and 50s have already cared for an aging parent or other elderly family member, and nearly 7 in 10 say that it is ‘very’ (48 percent) or ‘somewhat’ (20 percent) likely they will have to do this in the future.”
“Caring for an elderly parent can eat valuable time, resources and finances. This is only heightened if the parent is very ill, which takes an emotional toll,” Olson said.
“Employers should keep these concerns top of mind when making benefit purchasing decisions if they want to keep this generation engaged and retained.”
He said The Olson Group can work with employers to curate the perfect benefits package for those in the Sandwich Generation, or any generation, looking at coverage from every aspect, including retirement packages, health benefits, workplace wellness, work-flex arrangements, insurance packages and long-term care.
“While there is a great deal of talk about how Millennials are changing benefits and how to help the Boomers successfully retire and sunset their workforce contributions, it’s the Sandwich Generation that often gets overlooked,” Olson said.
Raising awareness is right in line with the company’s mission to “inform, educate and empower employees to make the best benefit decisions for themselves and their families.”
Olson said The Olson Group’s 20 employees are dedicated to that directive, with attention-to-client service that helped earn the company honors as the Chamber’s second Small Business of the Month for 2016.
“We have been in the Omaha area for over 30 years, and we are very honored to be recognized as our company is growing,” he said.
And Tim Olson sees that growth trend continuing.
“We are excited to concentrate our focus on the Omaha and Lincoln markets. We look forward to working with great employers in the area to help them offer competitive benefits to attract and retain their employees in a challenging employment environment.”
The Chamber award also applauds the company’s attention to community service. The Olson Group sponsors around 20 local charities each year with charitable donations eclipsing $50,000 in 2015. The Olson Group staff participated in Habitat for Humanity and Kids Against Hunger, packing meals that helped over 3,500 children. It is currently developing a relationship with Abide Network, a non-profit with a mission to transform the inner city, one neighborhood at a time.
“We also encourage our employees to get involved and donate time to charities of their choice,” Olson said.
As The Olson Group team works to impact the community and care for its benefits needs – Sandwich Generation and otherwise – Olson said he finds the family atmosphere in the office most rewarding.
“Even though we work very hard, we also have fun and enjoy working together.”
United Republic Bank sponsors the Chamber’s Small Business of the Month award. To nominate a small business online, visit www.omahachamber.org. Nominees must be current Chamber members with 50 employees or less.