Advisor strategies

Brokers send mixed messages on technology needs, strategy and spending plans in EBA’s second annual technology survey.

Tennessee CO-OP becomes latest to shut down, with more expected to announce closure before the next public exchange enrollment period begins in the next two weeks.

Commentary: Many employers don't know what their PBMs are doing today to actually manage their specialty drug programs, says Lockton's Sarah Martin. It's up to advisers to shine a light on PBM practices.

The use of technology is not just novel in the benefits industry anymore, it’s imperative. Benefit adviser Steve Williams predicted its usefulness over a decade ago and he and his team have used technology solutions to help transform Heffernan Insurance into one of the largest independent brokerage firms.

Commentary: After a terrific phone conversation, a prospect hangs up before booking an appointment. Consider sending a handwritten note to thank them for hanging up on you, and you just may close the sale, says adviser Eric Silverman.

Drafting a strategic plan is the first step to combat soaring health care expenses impacting employees and employers, many of whom are turning to wellness programs and private exchanges to control costs.

The majority of growth in private exchanges into 2017 will be in the 100-999 employee segment, as companies seek to make defensive plays ahead of the Cadillac tax.

California becomes the first state in the country to mandate 45-day notice for any material changes to agent agreements. The law comes in response to two insurers cutting commission with little notice mid-enrollment season.

More choice through private exchanges means more complexity for employers, employees and brokers. What can be done to improve the process for all involved?

Commentary: Statistics show this is an industry that doesn’t believe in social selling. Too many agencies are not meeting goals at the same time they are rejecting social selling business practices.

Teams of benefit experts debated each other on which type of plan is the future of employer-paid health care during a discussion Tuesday at EBA’s Workplace Benefits Summit in Orlando.

Employers more than ever are seeking innovative solutions for health care cost containment from their benefit advisers, and one industry expert says emerging strategies to help brokers thrive in the coming decade should include voluntary benefit sales and plan integration.

Despite thousands of dollars spent on marketing, one key item is missing for critical illness insurance sales. What is it and how can four simple questions help improve sales?

Offering a supplemental plan for retired military employees can save employers from potential claims — and it also helps brokers add value to their clients and increase their book of business.

Long an afterthought, retirement firms and advisers are pushing their clients to add auto escalation to employer plans.

Commentary: Continue to provide value-added personal service to your clients with these practical tips for marketing benefit programs, says ThinkHR's Laura Kerekes.

Commentary: Brokers don't achieve high organic growth by accident. Successful agencies and brokers have their eyes up — they consistently look ahead, and this foresight drives thoughtful planning that leads to an effective execution strategy, says Zywave's Dave O'Brien.

Questions over program effectiveness, legality and data storage have employers hesitating to implement such plans.

Commentary: Being facilitative and consultative will help you to engage the client in a discussion — not a sales pitch — and it will enable you to make more informed recommendations that are responsive to the client’s values and needs.

Commentary: A new opportunity has emerged, and we have entered another inflection point in an era of change. What each of us does next could very well determine our long-term destiny, says Digital’s Mike Sullivan.