Whether you are a dental insurance broker, a dentist or an employer, the key to succeeding in your business is having intelligence about your customers. What do they want? What are their struggles? What problems do they have that they wish someone would help them solve? It’s difficult to serve people you don’t understand. The 2017 Lincoln Financial Group Dental Study on millennials and dental care is a great resource for brokers as it provides insights about how employees, especially millennials, view dental benefits. Leveraging this information positions you to better understand and meet the needs of your clients and their current workforce. As we dive into this information, there are two important factors to consider:
A Millennial Workforce - Most of the employees you serve today are millennials. They are the largest living generation, and in 2016, they became the largest generation in the American workforce.
Benefits and Employer Satisfaction - Groups that offer a rich portfolio of benefits to employees, such as medical, dental and vision coverage enjoy greater employee satisfaction and retention. The fact that rich benefits factor into whether or not someone takes a job says it all.
Study Highlights
Here are a few highlights from the study that brokers can use to help their clients:
Views on Dental Benefits
It’s clear that employees today believe dental benefits is important. Are you offering dental coverage, including standalone dental benefits to your employer groups? The payoff? You help your employer group increase employee satisfaction and retain talent.
Dental Benefits Knowledge and Employer Expectations
This generation, like other consumers, don’t understand dental benefits and it results in some not using it. They are expecting help from their employers and not finding it. And their employers are looking to you for help. Make your life easier by utilizing dental carriers who not only show up during open enrollment but also have an established reputation for simplifying complex dental benefits topics year-round.
For the employees not using their plan because they’re scared of cost, consider providing them with a one pager of the preventive procedures like routine cleanings and exams, typically covered at no cost. Request this from the dental benefits carrier. You can also go above and beyond and send the client appropriate Schedules of Benefits to share with employees who may have trashed it by this time. While most carriers allow members to access these online, the gesture will truly show your commitment to your group.
Provider Information
Chances are you already provide a list of providers during open enrollment. That’s OK. Still go ahead and email a list of the appropriate providers associated with your groups’ selected plans (by county or state) to them and encourage them to share with employees. For other groups that are not digitally inclined, you could print lists and deliver these. It’s a great opportunity to let them know you don’t only visit at renewals.
As for provider rankings, many consumers visit patient opinion sites before setting foot into a dentist’s office. While you or your groups may not feel comfortable providing actual rankings, you could share a list of credible review sites. You can start with the following:
The Takeaways
The most important currency in today’s digital world is information. As a broker, the more intelligence you have about your clients and their employees, the more equipped you are to serve them. The Lincoln Financial Group Dental Study (which surveyed 1,000 adults 18 years and older across the United States) provides a lot of useful broker research you can use to advise your groups about how their employees view dental benefits (and therefore the reasons for your recommendations). It also shares what these consumers expect from their employers. Knowing and sharing this information will clearly deliver the message that you have your ears to the ground in the dental insurance industry and are an invaluable resource to your groups.
Related Topics
Hiring Millennials? Why Companies Need Dental Benefits
It’s Official: Millennials have surpassed baby boomers to become America’s largest living generation
Benefits of Standalone Dental Plans: Why Your Groups Need One
Brokers, Take Note: Selling Ancillary is Where it’s at
How to Improve Insurance Client Focus After Open Enrollment