Melissa A. Winn

The House has agreed to pass legislation that makes possible a repeal of the ACA’s controversial expansion of the definition of a small employer — a bill hailed by the benefits industry for protecting the small and mid-size businesses they feel the expansion threatens to harm.

Zenefits announced today it is offering small and mid-sized employers an ACA compliance tool for free. Some industry experts say the offering raises the bar again for competing benefit brokers, but others claim it is too little, too late.

The DOL’s proposed fiduciary rule presents complex challenges to advisers, clients and will exacerbate the savings crisis in America, NAIFA warned Congress Thursday — two weeks before the comment period on the controversial rule closes.

The recently announced mergers of four of the nation’s largest health insurance companies threatens to decrease competition in multiple markets, a threat the American Medical Association says will exceed federal antitrust guidelines and warrants regulatory review. Experts agree brokers will need to work with employer clients to find creative solutions to work with limited plan choices and keep premium costs down.

The IRS says employers can now do a trial run of their electronic form filing for reporting requirements under the ACA, giving nervous employers and their benefit advisers a way to test for readiness in advance of the reporting deadlines.

Employers cite cyber threats as a top risk to their company, creating an opportunity for benefit advisers to quell their fears with education and product knowledge.

The number of employers who could be subject to the ACA’s Cadillac tax is predicted to rise if employers remain stagnant on health care plan changes, underscoring a need to make plan adjustments sooner rather than later.

Brokers say they increasingly view the ACA as an avenue toward new revenue opportunities and roles around education and communication.

While the HR tech platform Zenefits offers a solution that addresses certain employer pain points, it also asks employers to dump their current broker. A new tech solution promises the same benefits without asking employers to sever their current broker relationship.

The DOL’s proposed fiduciary rule would likely push some commission-based brokers out of the retirement market altogether, NAIFA’s JuIi McNeely testified during the second day of DOL hearings on the proposed rule.