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Jeff Griffin

Jeff Griffin

Founder & President

Jeff is a 25-year veteran of the employee benefits industry and is the Founder and President of the JP Griffin Group.  Jeff established the JP Griffin Group six years ago to fuse together the art and science of benefits management – the analytical rigor required to make well-informed decisions, married with the behavioral sciences required to affect positive change.

Jeff also established the JP Griffin Group to address aspects of the field of employee benefits which he felt were being tremendously underserved by the brokerage community. These neglected areas included the failure of fellow brokers to; put employer interests before their own, provide compliance support commensurate with the growing complexity of the U.S. healthcare system, and approach cost containment as a continuous and sustainable effort to “bend the cost curve” vs. simply an annual opportunity to negotiate for lower rates.

As President of the JP Griffin Group, Jeff is responsible for overall client satisfaction, vendor management and renewal processes. Jeff has extensive experience working with all types of medical benefit programs and his experience includes extensive involvement with fully insured and self-funded programs. He currently holds insurance licenses in 47 states.

His focus these days is on helping our clients take advantage of opportunities brought about by the Affordable Care Act, as well as the rapid and disruptive advances in benefits enrollment, hr administration, and wellness technologies.

Jeff is often invited to speak at regional and national business forums on the financial impact and compliance risks of healthcare reform to small and mid-market businesses.

Prior to the JP Griffin Group, Jeff spent nearly a decade on the carrier side, at UNUM, before becoming an independent broker. Jeff was also a partner at DBG Benefit Solutions.

Jeff holds a degree in finance from the W.P. Carey School of Business at Arizona State University. When he’s not in the office, you might find Jeff playing guitar, enjoying a round of golf, or hunting and fishing up north.

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Author's Posts

IRS Finally Announces Official Contribution Caps For FSAs, 401(k)s, HSAs and More (Includes Comparison Tables)

Jeff Griffin

This afternoon the IRS officially announced the final 2020 election/contribution limits for Flexible Spending Accounts (FSAs), qualified Commuter Benefits, and several retirement savings vehicles. (See comparison tables, below.)

Considering that many employers have already held their employee benefits Open Enrollments for 2020, today’s announcements by the IRS can best be filed under the “better late than never” category.

These IRS statements finally set official contribution limits for Health Care FSAs, Dependent Care FSAs, Limited Purpose FSAs, Qualified Parking and Qualified Transportation Saving Plans, 401(k)s, 403(b)s, most 457 plans, IRAs, SIMPLE Plans, and the Federal Government’s Thrift Savings Plan.

All of these saving plans provide participants with the opportunity to save money, either by paying for qualified expenses with pre-tax savings contributions, or by saving for retirement with pretax elections. 

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Topics: Compliance, Employee Communications, HSAs, Retirement Planning, HDHPs, FSAs

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Deadline Fast Approaching to Release Employee Compensation Information to EEOC

Jeff Griffin

Companies across the U.S. are chasing a Monday deadline to provide the federal government with full disclosures of how they compensate workers of all genders, races and ethnicities. The data collection exercise, the largest and most detailed ever, is part of an effort by the government to close gaps in earnings.

Subject to the requirement are the more than 70,000 private U.S. companies with more than 100 workers. Collectively these companies employ more than 54 million American workers. These firms must submit their compensation information to the Equal Employment Opportunity Commission (EEOC) by September 30th.

This deadline comes almost two years after the rule, issued under the Obama administration, was originally scheduled to go into effect. In 2017 the Trump administration pumped the breaks on the rollout of the new rule, arguing that the collection and aggregation of such in-depth salary information was a burden on companies. (Advocacy groups sued the EEOC to get the pay-reporting requirement reinstated.)

EEOC officials say that this detailed compensation data, which will span virtually every industry and region of the county, will help them quickly ascertain which discrimination complaints deserve closer scrutiny, from the tens of thousands that are filed with the EEOC annually. (They received over 75,000 in 2018 alone.)

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Topics: Compliance, Risk Management, Equality

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Is it Time to Fire Your Employee Benefits Broker?

Jeff Griffin

Many companies stick with their employee benefits broker for years on end, not giving too much thought to whether a change is warranted. HR directors always have long to-do lists full of time-sensitive issues, so finding a new broker is typically the last thing on their minds — except maybe during contract renewal season if the news isn’t good (and it never seems to be with health insurance these days).

The issue here is that there is a point when it’s time to fire your broker, but recognizing it when the time comes is difficult because you have a million things on your mind and far more pressing matters at hand.

However, there are some definite signs it’s time to find a new employee benefits broker and it’s important to keep an eye out for them. Here are some of the big ones.

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Topics: Employee Benefits, Compliance, Education, Disruption, Strategy

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Employee Benefit Implications for An Upcoming Demographic Milestone

Jeff Griffin

We are about to witness an important change in workforce demographics – one that has implications for virtually every company recruiting college-educated adults.

Women, you see, are about to become the majority of the college-educated workforce in this country. Back in 2007, women surpassed men as the majority of college-educated adults in the United States, but it’s taken 12 years for this change to reach the labor force.

Responding to this change, savvy companies are striving to become more attractive to female job candidates. Some of these new practices include the ways in which companies are redrafting job descriptions with more gender-neutral language, as well as changes companies are making to compensation and culture.

Changes to employee benefits programs are even more widespread, and include;

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Topics: Company Culture, Retention, trends, Recruitment, Women

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What is a Limited Purpose FSA? (And Should You Offer One?)

Jeff Griffin

With the rising cost of health insurance, many consumers are opting for high deductible health plans (HDHPs) to keep their medical premiums affordable, especially when they’re relatively young, comparatively healthy, and don't spend much of their budget each year visiting a doctor. However, many people enrolled in qualified HDHPs are disappointed to learn they can no longer, by law, participate in a traditional flexible spending account (FSA). 

The nature of how these plans are designed leaves some wondering how they’ll cover all the expenses incurred prior to reaching their deductible, which has led to the rise of health savings accounts (HSAs) and limited purpose flexible spending accounts (LPFSAs).

Only those enrolled in qualified HDHPs are eligible to open an HSA and reap the tax benefits, but many are unaware that they’re also eligible to open a limited purpose FSA (providing their employer offers one), which frees up the money in their HSA for future use — even retirement. 

What Is a Limited Purpose FSA?

HSAs are usually a major selling point of HDHPs. They allow participants to set aside a portion of their income from each paycheck in order to pay for qualifying healthcare expenses. Limited purpose FSAs are like HSAs in that participants can contribute a specific amount from each paycheck. LPFSAs are like traditional FSAs in that they make funds available immediately, rather than forcing you to wait until enough money has accumulated to access the money you need for necessary vision and dental care (whereas HSAs require funds to be in the account before reimbursement can occur).  

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Topics: HSAs, Consumer Driven Healthcare, High Deductible Health Plans, Savings Plans

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Top CEOs Tell Companies To Invest In Their Employees

Jeff Griffin

Employees, customers, suppliers, and even community neighbors all moved in front of shareholders yesterday as the primary audiences publicly held companies should utmost serve in the future.

That’s according to a statement released by the Business Roundtable, a group of CEOs representing 200 corporations around the country. This new vision recasts the prime directive of corporations from first and foremost serving shareholders (e.g. maximizing profits) to serving these new audiences.

The new mission suggests that corporations should; invest in employees, deliver value to customers, deal ethically with suppliers, and support outside communities. “Shareholders ride the caboose in this new code of corporate purpose,” said a dissenting opinion piece in yesterday’s Wall Street Journal.

Jamie Dimon, chairman and CEO of J.P. Morgan Chase and chairman of Business Roundtable, said yesterday, “Major employers are investing in their workers and communities because they know it is the only way to be successful over the long term. These modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans.”

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Topics: Company Culture, CEO

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The Upside of Auto-Enrolling Your Workforce in Disability Insurance

Jeff Griffin

New this year, per the U.S. Department of Labor, is the ability for employers nationwide to auto-enroll employees in disability insurance coverages for ERISA-covered plans.

The implications of this decision are far reaching and merit serious consideration by employers offering disability benefits, which are designed to prevent income disruption in the event of a qualifying disability. (As with other auto-enrollment options such as 401(k) contributions, employees retain the opportunity to opt-out if they choose not to take the coverage.)

For those employers who don’t yet offer disability coverage, we strongly encourage you to read our blog post from earlier this year on why disability insurance is one of the most valuable benefits you can offer.

The Gap Between Interest and Action

At present, one in four 20-year-olds in the workforce can expect to be out of work for at least a year before they reach retirement, due to a disabling condition - that’s according to probability tables developed by the Social Security Administration.

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Topics: Enrollment, Behavioral Psychology, Long-Term Disability, Short-Term Disability

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Preventive Care Coverage Improves For High Deductible Health Plans

Jeff Griffin

The IRS has added care for a range of chronic conditions to the list of preventive care benefits that can be provided by a High Deductible Health Plan (HDHP) without a deductible.

This expansion of preventive care services is in response to an executive order signed on June 27 by President Trump. The order, designed to improve price and quality transparency in health care, directed the Treasury Department and IRS to improve the attractability of HSA-compatible HDHPs which cover low-cost preventive care, before the deductible.

The IRS issued Notice 2019-45 in response to this executive order. With this order now in place, it now classifies certain medical care services and items, including prescription drugs for chronic conditions, as preventive care for individuals with certain chronic conditions. 

Employers with HDHPs should review their plan documents and consult with their benefits broker, carriers and benefit administrators to determine how their plans might cover these new preventive care benefits on a go-forward basis. 

Read More
Topics: Cost Containment, Education, HSAs, High Deductible Health Plans

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Common Pitfalls To Avoid With Your High Deductible Health Plan

Jeff Griffin

Employers looking to decrease their healthcare costs often rely on workforce adoption of High Deductible Health Plans (HDHPs), which offer both employers and employees lower premiums. Unfortunately, this strategy doesn’t always work out if enrollment in HDHPs (assuming employees are given a choice) fall short of forecasts.

Rightly or wrongly, HDHPs have been saddled with some baggage. Many people have difficulty making the cognitive leap from traditional healthcare plans to HDHPs for a variety of reasons; in part because change is generally difficult for people, but sometimes, it’s simply a fear of the unknown and a matter of not understanding how they work.

While we certainly aren’t advocating that HDHPs are suitable for everyone, they’re a great fit for some — especially those who are otherwise overpaying for health insurance, meaning that they’re paying high premiums, but rarely using their plans.

Here are some common pitfalls to avoid when designing and marketing a high deductible health plan and suggestions on how to avoid them.

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Topics: Cost Containment, Education, HSAs, High Deductible Health Plans

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Employee Benefits Built With Employee Retention In Mind

Jeff Griffin

Maintaining a competitive edge often comes down to retaining a talented workforce. The growing popularity of so-called “portable” employee benefits, such as Health Savings Accounts (HSAs), certainly hasn't made this any easier. Employers trying to entice workers to remain loyal may want to focus their efforts on providing benefits which are simply too good to surrender. Offering benefits that accrue significant value over time, or improve with tenure, will help keep employees from abandoning that progress for greener pastures, lest they have to start over someplace else.

How the ACA Impacted Employee Retention

Prior to the passage and implementation of the Affordable Care Act (ACA) there was considerably less job mobility for many Americans with pre-existing health conditions. The moment insurance carriers were barred from discriminating based on pre-existing conditions, the need for individuals to stay with a company for insurance reasons essentially vanished. Many employees who were previously stuck in their jobs for fear of losing benefits were now free to explore other opportunities.

Similarly, many budding entrepreneurs set off to start their own businesses while acquiring individual health insurance via the ObamaCare exchange or through other means. One could argue that this new freedom was a benefit to both employers and employees  after all, who really wants an employee who is sticking around just because of benefits? Nevertheless, this new found “employee mobility” has made the search for "sticky" benefits all the more important.

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Topics: Cost Containment, Retention

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