Client strategies

Clients are turning to their benefit adviser for technology support — something brokers have to provide. Choosing a partner with the same goals and understanding the entire process are essential.

In the constantly changing health insurance business, the only way to stay ahead of the competition is to reinvest in your company, your employees and your technology. That’s what Sparks, Md.-based Kelly & Associates Insurance Group has been doing. What can smaller firms learn from Kelly and why is the continual reinvestment so important?

To stay abreast of private exchange trends, advisers, employers, insurers and other legal and industry experts will share their insights about private exchanges at this year’s EBA/EBN Private Healthcare Exchanges conference in downtown Chicago, July 23-24.

Selecting the right partners, learning from colleagues and understanding the needs of each client will help agents who are new to this space.

Aetna Inc. agrees to buy Humana Inc., in a deal poised to be the biggest ever in the health-insurance industry.

EPIC Insurance Brokers and Consultants was a long time user of Liazon’s private exchange software, but this week launched its own exchange, developed in partnership with Hodges-Mace. Chris Duncan, EPIC’s chief growth officer, discusses the move and why exchanges may not be for everyone.

The new reality of health care is here: shopping for benefits online via simple mobile apps; virtual care anytime, anywhere; and games to make chronic care management appealing. Despite that, challenges remain in the move to true digital health and, with it, better outcomes, a top Cigna executive said Monday.

Commentary: Employers should be vigilant when developing strategies which can run afoul of new rules. The penalties are severe.

Benefit advisers can be a ‘vital’ resource for low-income earners who, according to new research, need better understanding of and engagement with their employers’ benefit offerings.

HR technology company Namely has launched an internal benefits brokerage as part of its goal to be an end to end HR solution for growing startups. But the company wants to work with other brokers, not in competition with them.

Commentary: While an employee assistance program may be promoted to employees when it’s launched, it quickly becomes lost in the collection of employee benefits and is rarely utilized. To maximize its value, ask whether your prospective vendor includes some of the following services.

Startup introduces solutions to help organizations better manage employees and to provide company leaders with HR analytics reports.

Multiple signs point to growth in voluntary benefits sales, but employers would like to see a change in how their employees sign up for the benefit, according to new LIMRA data, released Tuesday.

Commentary: Smart brokers provide awesome service, killer expertise and modern technology solutions that can compete with any online platform.

Multi-employers that continue to offer health care benefits to retirees are embracing retiree-only plans as a cost-saving measure. While retiree-only plans are not subject to all of the rules of the ACA, there are still requirements employers and advisers should be aware of.

Commentary: It is a lot of fun to be able to help employers make sound decisions through benchmarking. Oftentimes, that’s the start of a prosperous relationship, says Zywave’s Dave O’Brien.

Younger workers have begun to recognize that working well into their traditional retirement age will likely be the new normal, as Social Security and even workplace savings plans may not support their lifestyles.

Explosive growth in the individual market is forcing brokers who work with very small groups to change their business models —and often receive less commission in the process.

Most private health care exchanges are geared toward active employees. But Tampa, Fla.-based Brown Insurance Group has an eye on part-timers who may have lost coverage or who never had access to group plans. Eric Brown, principal, explains how his private exchange allows employers nationwide to provide coverage to such employees through an exchange-like environment. Brown Insurance also assists with Healthcare.gov enrollment.

Big data is playing an increasingly larger role in benefits strategic planning and if a broker, health plan and employer work together, the opportunities for using such data to lower costs and increase well-being can be realized.