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Three Reasons Why You Need A Broker For Open Enrollment 2018

Time is flying! Open Enrollment 2018 is only one week away. Are you ready? Can you understand all of the concepts involved with Open Enrollment and reap the best benefits for yourself? Why would you add another item on your plate when you could have a broker handle everything for you. A broker can do all the work for you, while you focus on yourself. If that isn’t reason enough then read on to see three more.

Get ahead of compliance concerns

According to a recent survey by the Council of Insurance Agents and Brokers, the most difficult function for employers to accomplish in-house is complete and efficient compliance with legal and regulatory requirements. Regulatory uncertainty has many companies worried about the design and stability of long-term benefits plans. Brokers who build benefits plans that reflect potential regulatory outcomes give employers more confidence that future regulatory risk is being managed. When it comes to health care reform, there are many resources available that can help brokers navigate the ACA. Coming to the table aware of future regulatory challenges and helping clients understand potential penalties can help you stand out, stay ahead and stay in control.

Discuss innovative, integrated technology solutions

The most recent ACA reporting requirements demand that data be pulled on payroll, HR, leave of absence and health care benefits, which is challenging if this data is stored on separate systems. Advocate for a single integrated technology solution where payroll, benefits, HR, and time and attendance systems can all talk to each other. This will create less administrative effort on the HR staff so they can spend more time focusing on employee engagement. It will also make it easy for employees to access all of their HR information in one place, whether online or on a mobile device.

Offer A Connected Experience

In the past, many benefits brokers looked at standalone benefit administration platforms for their clients, which required them to be knowledgeable about multiple systems that their clients were using to maintain and extract employee census data.