Your clients' roles have changed. The day-to-day work of benefits administrators and human resources professionals differs from what it used to be. As the trusted employee benefits brokers to your clients, have you shifted your role to meet the new human resources needs?
Part of your success as a broker hinges on supporting your clients and delivering services to make their jobs easier. But it would help if you also kept up with changes. Knowing how their roles have changed will help align your service offerings to your clients' needs.
The more knowledgeable you are as their trusted broker, the more valued you become.
Here are the benefits professionals are citing as the most significant changes to their jobs and the most challenging aspects of their daily routines.
HR is wearing more hats than ever.
Traditionally, human resources practitioners had regular jobs that included routine and everyday workloads. They didn't have much to do with benefits.
Open Enrollment, once a manageable annual task, has now evolved into a more complex process that demands additional planning. HR professionals are now deeply involved in benefits to ensure they align with their company's needs and provide a consumer-driven shopping experience. The landscape is changing with health reform, technological advancements like Private Exchanges, and the increasing need to educate employees about their benefits. This complexity underscores the necessity for continuous learning and adaptation in the field of benefits administration.
How brokers fit in to open enrollment.
Your clients need their employee benefits brokers to take the lead in navigating them through reform and changes in the ACA that could impact their organization.
Private exchanges and single-source billing platforms are powerful tools that you, as a broker, can offer to your clients to streamline their growing workloads. By relieving them of administratively heavy tasks, you not only enhance their perception of your value but also contribute significantly to the simplification of benefits administration. Your role in this process is not just crucial but also deeply valued.
Open Enrollment is more complex for your clients.
In the past, benefits were something that your clients managed for their employees. Now, employee benefits have shifted to a consumer-driven experience. Enrolling in benefits is a process employees must take ownership of with the shift to a defined contribution model.
Employees must be equipped with proper educational tools to make informed healthcare choices. For example, an employee has historically worked for large employers that provide health care benefits. If they move to a small to medium-sized company, that employee may no longer have access to benefits because they are now available through the ACA marketplace (or a private exchange). These employees may need help understanding the changes and will not know how to shop for benefits effectively.
What does this mean to your client? What is HR's role during changes in health care? More questions from their employees are coupled with added complexity in fielding federal subsidy questions.
Research shows that most Americans need help understanding basic healthcare terms. While these terms are standard benefit features for any broker or benefits administrator, the average employee needs help understanding how to confidently shop for health care benefits.
What can you do to simplify benefits? You can provide your group with various educational tools to help demystify benefits and even the ACA. For instance, you can offer webinars on understanding health insurance terms, provide guides on navigating the ACA, or partner with a private marketplace that offers health literacy tools and employee enrollment support features to keep the questions to benefits admins from piling up.
Human resources professionals state that weeding through health reform is daunting.
With any changes to the Affordable Care Act (ACA), update your clients as soon as possible so they can prepare their organization and employees. What do those changes look like? We've got your back. Check out our comprehensive guide to avoiding costly ACA penalties. The guide includes information on the latest ACA updates, tips for compliance, and strategies to minimize penalties.
Benefits administrators are on a technology learning curve.
Connecting with employees has evolved from traditional methods like email and face-to-face to communicating socially. Companies are using social media, blogging, and texting for communication. In addition to the internal tech culture shock, human resource pros are increasingly leaning on technology. Technology plays a big part in their day, from payroll systems to online employee development platforms.
Insurance brokers need to be equally tech-savvy if they want to earn the respect of their clients. If their company is active on social media or your client prefers to text instead of call, be ready to adapt. Remember to have an online presence, too. Plus, if you are implementing a new technology system for your groups – like a private exchange or benefits admin site – be sure you're an expert and can help your clients get up and running quickly.
The evolving landscape of employee benefits demands continuous adaptation and learning. By embracing these changes and taking proactive steps, both brokers and HR professionals can effectively meet the needs of their organizations and employees.
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