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The role of benefit advisers has been evolving since the Affordable Care Act was signed into law. Another requirement was recently added to their job description now that most Americans must get health coverage or pay a penalty: helping clients file their taxes.
Theyre looking for professional assistance, says Bryan Koch, a Memphis, Tenn.-based managing director at CBIZ. This is a new area you have to stay on top of.
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A financial spreadsheet alone cannot capture the total value and performance of a benefits program, nor can numbers on a ledger guarantee long-term operational success.
The practical takeaway is to treat data-sharing requests as a risk-allocation exercise, not just an operational convenience.
As benefit decisions get finalized, childcare offerings may be more within reach than companies think.
As employees decide whether to stay with their employer, support tied to student loan debt and education benefits is becoming a clear differentiator.
Replacing legacy brokerages with a fiduciary model will secure the data environment so that a thorough investigation of the plan's performance can begin.
