have delivered disruptive changes to the insurance and benefits industry which are unprecedented in the history of the marketplace. Unless you are too big to fail, it is time to make changes in your business plans. There are no bail-outs — traditional business models are doomed to fail.
Brokers, carriers, service providers and employers have been forced by PPACA and other market factors to examine and change their benefit plans and their strategies for offering employee benefits. Plans — when offered — must follow Health and Human Services (HHS) guidelines as well as being compliant qualified health plans (QHPs) including essential health benefits (EHBs).
Become a trusted advisor by using these five strategies and solutions for insurance and benefits compliant with PPACA:
1. Private exchanges
provide an online marketplace for employers of all sizes to compare and purchase health insurance, including voluntary and ancillary plans, programs and services. While not required, most private exchanges will be offered on a defined contribution(DC)
basis by employers with the assistance of brokers and service providers.
2. Defined contribution (DC) plans
are updated full flex cafeteria plans on steroids. DC integrates CFO-budgeted dollar/credit allocations to employees to purchase benefits, including: traditional health plans, CDHPs, HDHPs, HRAs, HSAs, etc; Section 125 and other IRS codes; and additional options, all of which create efficiencies and cost-savings.
3. Integrated employee benefits
encompass traditional core benefits, voluntary worksite plans, ancillary plans and tax advantaged IRSC plans. Employers and employees are provided informed choices.
4. Integrated technology solutions
are essential to delivering the intended results of these five strategies. These are new and updated software and cloud-based systems which permit the insurance and benefits decision makers to facilitate the five integrated strategies.
5. Inbound marketing strategies
drive self-qualified, target-marketed prospects to contact you directly. How? By leveraging the power of the Internet, search engines, social/business media
Add these affordable, powerful strategies to your marketing plan now. While these strategies can be utilized individually, working together, they provide the greatest opportunity to retain current clients and attract potential clients. Critical to my approach is assuring brokers, carriers and service providers that the time, effort and investment of the implementation generates substantial, measurable revenues.