Clarity Benefit Solutions issued the following announcement on Nov. 13.
ERISA service provider, Clarity Benefit Solutions discusses brokers' new role in the changing employee benefit landscape.
Tumultuous times in the health care industry means that now more than ever, employers are relying on brokers to keep health care costs under control. Brokers are doing their part by introducing a host of new products and services that employers can take advantage of to reduce healthcare costs.
The landscape is also changing in that employers are looking to brokers for help in areas such as managing ACA and ERISA compliance, overseeing open enrollment, reporting, employee engagement, and new ways to educate employees about benefit packages. Forward-thinking brokers realize they have the opportunity to position themselves as strategic consultants to employers.
Because of this evolving climate, brokers no longer simply serve as insurance agents. Rather, they partner with an employer—acting as a strategic resource for planning strategies. They support Human Resource departments and are experts in all areas pertaining to benefits.
The benefits scene has changed for many reasons, including: The Affordable Care Act (ACA) causing anxiety and confusion in employees, Human Resource departments growing smaller and faced with more administrative tasks rather than human interaction, technology in benefits administration becoming more prevalent, and benefits plans becoming more confusing to employers and employees alike.
As a result of these changes, brokers must not only possess the ability to be quick thinkers and problem solvers, they must stay abreast of emerging technology and changes in compliance. They must move beyond the traditional broker role and become experts in education, compliance, payroll, and human resources management.
Brokers who are ready to take the next step and become tops in their field should consider educating themselves on topics such as next-generation risk placement to be better prepared at recommending the right carrier, products, and benefits; outcome-driven loss prevention to advise clients on potential risks and how to avoid losses; risk marketplace with valued services (analytics); and innovative carrier solutions to develop high-impact offerings. Doing so will result in successful partnerships and continued success!
Original source can be found here.