After several members of our Agency Growth Mastermind Network asked me about Patient Protection and Affordable Care Act compliance, I recognized a new agency revenue opportunity. As you continue to reinvent your agency to stay relevant and profitable post-reform, here’s a strategy to add value for the client and revenue to your bottom line.
You probably already assist your clients with compliance around COBRA and Form 5500 reporting. But the compliance picture for employers is about to get very ugly. In Massachusetts, the compliance burden of the state’s health care reform – the primary model for PPACA – has required agencies to provide compliance services to clients as a no-cost value-add to the client. In a typical example, Boston-based Longfellow Benefits has had to add two additional staff just to keep their clients compliant.
