LOS ANGELES / IRVINE, CA (February 27, 2013) – Burnham Benefits Insurance Services, one of the largest employee benefits brokerages in Southern California and one of the few to specialize solely in strategic employee benefits consulting and brokerage, has welcomed a new member to the team, Richard P. Asensio, JD, MBA, as its new Vice President, Director of Compliance.
The addition of the Vice President, Director of Compliance role allows Burnham to provide clients with greater guidance and peace of mind in navigating the growing issues associated with health and welfare state and federal compliance requirements. Asensio will work directly with clients to help them choose the best plan design options for their workforce, while meeting the challenges of health care reform (HCR)'s many requirements. He will also work with Burnham's consultants to expand their arsenal of assessment and compliance tools, furthering the firm's ability to assist clients in determining optimal long-term strategies.
"We are excited to have Asensio fill such a valuable role within our firm," says Kristen Allison, president and owner of Burnham Benefits. "His expertise in consulting for mid-size and large-size employers on both ERISA and non-ERISA plan compliance issues, and his extensive knowledge of federal and state law requirements impacting employee benefit plans, will bring our clients additional protections and equip our consultants with an even more comprehensive set of assessment and compliance tools that can be used to position our clients to meet the challenges posed by an ever changing health care landscape- not the least of these being health care reform implementation in 2014 and beyond. By having a dedicated compliance expert in-house, Burnham clearly stands out among the other Southern California benefit firms."
Asensio earned his JD from the University of San Diego and his MBA from Babson College in Wellesley, MA. He is a member of the State Bar of California. He has gathered extensive experience and knowledge in his 13 years of consulting on qualified and non-qualified plan compliance issues, amassing an understanding of how state and federal requirements impact employee benefit plans. His areas of expertise include IRS, ERISA, COBRA and HIPAA compliance, healthcare reform (PPACA) implementation, and document and operational compliance reviews of both retirement and health and welfare plans.
"Initially, my focus will be on ensuring that Burnham Benefits clients are able to implement the most strategically sound benefit programs and at the same time, comply with the myriad of requirements as a result of health care reform," says Asensio. "I'm also looking forward to working with our talented team to develop new projects designed to best support our consultants and provide our clients with the finest possible resources to ensure compliance with the legal requirements impacting employee benefits. It's a challenge I embrace."
Burnham Benefits' consultative, client-first approach has helped establish the firm as a Southern California market leader. The company prides itself on offering leading-edge, research-driven client actuarial data and company-specific information as well as in-house support. Burnham continually invests in the latest software and innovative ideas to provide optimal flexibility and control client costs, including employee benefits benchmarking in California, to supply clients with the information they need to offer competitive benefits programs. These customized, solutions-based services allow Burnham Benefits to remain nimble in a typically rigid industry--ultimately offering clients key business results and fostering the health of their employees.
About Burnham Benefits Insurance Services:
Based in Irvine, Calif., Burnham Benefits Insurance Services Inc. is one of the largest employee benefits brokerages in Southern California and one of the few to specialize solely in employee benefits insurance. Los Angeles, Orange County and San Diego employers trust Burnham to understand the unique challenges of the Southern California market. Kristen Allison, President of Burnham Benefits and a 30-year industry veteran, acquired the firm in 1995 from John Burnham Insurance Services, an Orange County mainstay for more than 50 years. Boasting the in-depth industry knowledge and Fortune 500 resources of a large firm, Burnham Benefits prides itself on retaining the flexibility, creativity and consultative service of a boutique. After steady growth of 20 percent annually for the past 10 years, the company serves more than 300 corporate clients throughout the United States and manages more than $600 million in premiums. Working with its colleagues at Burnham Gibson Financial Group, and having the added expertise of in-house underwriters, compliance officers and communications specialists, Burnham Benefits provides an integrated approach to managing a client's full spectrum of employee benefits. Named Best Place to Work by the Orange County Business Journal in both 2011 and 2012, the company has three offices in California: Irvine, Los Angeles and Santa Barbara, as well as offices in Oregon and the Washington D.C. metro area. For more information, visit www.BurnhamBenefits.com.