Stephen started his professional career in 1972 in Arthur Andersen's New York office tax department. In 1978, he was recruited by Price Waterhouse to start an in house tax department for one of its clients, Ogilvy & Mather, a publicly-owned, multinational advertising agency. He eventually became Senior Vice President - Assistant Treasurer/Assistant Secretary. In 1989, Ogilvy was acquired by a UK firm and shortly thereafter he was looking for something new to do.
That led Stephen to move to California in 1992 to become a co-owner and CEO/CFO of Foremost Clinical Pharmacy Services, a start-up home infusion pharmacy (IV medications delivered to patients at their homes). He negotiated the sale of its operating assets in December 2006 to Option Care, Inc a publicly-owned, national provider which six months later became part of Walgreens. He also negotiated himself out of a job. After semi-retirement for a few years, Stephen started an entirely new career as an independent Aflac agent.
Briefly stated, Aflac has a buffet of policies that complement people's major medical coverage. Some of the policies are Accident, Cancer, Short Term Disability, Hospitalization, etc. These policies are designed to help policyholders when they or family members go through serious illnesses or injuries. Statistics show that about 83% of Americans pretty much live month to month, some even paycheck to paycheck. So when they can't work because of a serious illness or injury to themselves or a loved one, they have a need for cash to pay their normal living expenses. Aflac pays cash benefits directly to its policyholders to use as they see fit, not to doctors and hospitals. And the amounts paid are not impacted at all by how much major medical pays.
Typically employees choose policies that meet their needs and lifestyles and pay the premiums themselves. I work with them to keep the cost within a budget of about one hour's wage a week. It costs the employer absolutely nothing. If three or more employees at a company choose to participate, they qualify for very favorable group rates.
The policies, which are surprisingly affordable for the benefits, are fully portable. The employees own the policies, so if they switch jobs, they can keep the policies and continue paying premiums at the favorable group rates. And if the employer is kind enough to allow premiums to be paid through payroll withholding, the employees can use pre-tax dollars, making the policies even more reasonable. Plus the employer actually saves on its payroll taxes when done through withholding.
- Married to Barbara Avishay - 5 adult children between us and one grandchild
- Live in Tarzana
- Native New Yorker - hometown - Hewlett, New York
- Hobbies - Golf, travel
- BA - Brown University; MBA - Wharton Graduate School