What do employers want from their benefits broker:

Employers typically look for benefits brokers who can provide a range of services and expertise to help them navigate the complex world of employee benefits.

Here are some things that employers commonly look for in a benefits broker:

Expertise and knowledge: Employers want a benefits broker with a deep understanding of the employee benefits industry, including current trends, regulatory changes, and best practices. They want a broker who can provide expert advice and guidance on benefits strategy and design.

Customized solutions: They want a broker who can help them design a benefits program that is tailored to their workforce, budget, and business objectives.

Cost containment: Employers want a benefits broker to help them contain costs without sacrificing quality. They want a broker who can provide innovative solutions to help them manage healthcare costs and optimize their benefits spending.

Compliance and risk management: Employers want a benefits broker to help them navigate the complex world of regulatory compliance and risk management.

Technology and tools: Employers want a benefits broker who can provide them with technology and tools to help them manage their benefits program more efficiently. They want a broker who can provide online enrollment, benefits administration, and reporting tools to help them streamline their benefits operations.

The bottom line is that employers want a benefits broker who they can count on to be their trusted partner.

Employers who work with a broker who provides these services are more likely to have a successful benefits program that helps attract and retain top talent and doesn’t break the bank.

As we enter the second quarter, it’s a good time to reflect on our business strategies and identify growth opportunities.

In particular, I want to draw your attention to a deep blue ocean – an area of the market that is largely untapped and offers significant potential for expansion.

While our original focus at Evolved Benefits was on the staffing industry, we have since expanded our reach and now work with various companies that struggle to provide affordable health benefits to their employees.

By analyzing our data on the industries we work with, we have identified the industries where we can make the greatest impact. This deep blue ocean is where we encourage brokers to look if they want to stand out from the crowd and avoid competing with a million other people for the same groups.

One example of this untapped market is companies that employ 100 full-time equivalents (FTEs) but need help to afford a health plan for their employees. Under the Affordable Care Act (ACA), such companies receive credit for 30 employees regarding penalties. So, if a company is penalized, they will only be punished on 70 employees, which is still a significant number.

If a company does nothing, it will face a penalty of $217,000, almost $15,000 per month. However, by putting their employees on a $45 MEC plan, they could save themselves a ton of money. In fact, they would only spend just under $30,000 annually, a difference of $187,000.

By visiting our Resources tab, you can access a calculator to help you analyze your groups and identify growth areas.

As brokers, you need to get out of the bloody red ocean and explore the deep blue ocean.

You can differentiate yourself from the competition by looking for opportunities to serve underserved markets and grow your businesses!

As a broker, you’re likely facing a significant challenge this year.
Winning business and growing organically is more critical than ever.

It will help if you differentiate yourself from other brokers with unique strategies to achieve this. One option to consider is a minimum essential coverage (MEC) plan.

MEC plans typically include around ten basic coverages, with options ranging from basic to robust. These plans often feature a national PPO network, providing patients unlimited telemedicine and in-person doctor visits. The extensive network allows patients to see almost any doctor they choose.

One advantage of MEC plans is their flexibility. Brokers can pivot to another network if a client is in a more rural area and needs access to a different set of doctors. Additionally, MEC plans cover in-person visits for primary care specialists, urgent care, lab work, X-rays, and pharmaceuticals. There are even mental health benefits that can be utilized via telemedicine.

Recently, a robust MEC plan was introduced, including a high-level teledoc service with more services than typically found in telemedicine.
This new MEC plan provides a core set of acute services that are missing hospitalization. Brokers can address this gap by offering a hospital indemnity plan with the MEC plan.

With hospital indemnity plans, brokers can provide coverage for acute services while also providing reimbursements for hospital services. The plans are still affordable, costing under $180, and are also on a PPO network, allowing patients to receive discounted rates for medical services.

Overall, MEC plans offer brokers unique and valuable offers to help them stand out in a competitive industry. By considering these plans and offering complementary hospital indemnity plans, brokers can provide clients with the coverage they need while differentiating themselves from others in the market. Stay tuned for more education on these new MEC plans, and be aware of the evolving landscape of healthcare coverage.

The insurance industry is constantly evolving, and staying updated with the latest trends and strategies is essential for brokers and agencies looking to succeed.

The Evolved Benefits State of the Union Address is here, and it’s a must-watch for brokers looking to stay ahead of the game in 2023. This insightful video covers the latest trends and strategies for growing your business, even amid economic challenges like a recession.

We will discuss how a MEC plan can help you unlock new revenue streams and explore the deep blue ocean of opportunities available to brokers. Plus, we’ll dive into the number one goal for every broker and agency – growth – and how to achieve it through organic growth and generating new revenue streams.

Take advantage of this valuable information and insights!

Watch the entire Evolved Benefits State of the Union Address on our YouTube channel now.

Be proactive, adaptable, and determined to succeed in 2023 and beyond.

Do you want to know how easy it is to work with Evolved Benefits?

As an employee benefits advisor, you’re looking for ways to protect your current book and find new clients.

To accomplish both, you need to make sure you’re bringing solutions to the table the competition isn’t.

That’s where we come in.

Consider us a solution you have exclusive access to.

We’ll help you win business your competition is ignoring and pay you well to do it.

When it comes to helping your clients your priorities are simple:

• Establish a relationship built on trust.

• Work to help them solve THEIR problems.

• Find the solutions that meet THEIR needs (not your wallet).

The more you focus on THEM, the more trust they’ll have in YOU.

Evolved Benefits can help you build the trust you’re looking for.

Working with us is easy.

1. We’ll sit down and look at your current book of business to identity opportunities to create “stickiness” with your clients.

2. We’ll look at your market to see what new business opportunities exist.

3. Getting a proposal from us is simple as our products our “shelf-rated” so the rates are the same nationwide. You don’t even need a census.

Once you have a proposal in hand, we can set up a call and show you how to turn our rates in to a win for your agency.

We want to be partner you can trust and are happy to accompany you in the meeting with your prospect or client.

So, what do you do once a prospect or client says “yes”?

We’ve got your back.

We’ll help you enroll the group by providing support with various resources including our call center.

What does billing look like?

It’s easy.

Does your group need individual billing? We’ve got you covered.

Does your group have 1099 employees? No sweat.

It’s all about making your life easier.

Here’s what makes our service team unique:

The team is in-house so you will speak with a LIVE person. You’ll also have access to bilingual support, if needed. The team is there to help set up an implementation call for the backend. We want you and your client to understand how easy our portal is to use.

You don’t need to do the educating. We can do it for you.

We’ll teach your client how to set up their profile so they can easily handle additions and terminations. Our system is sophisticated yet simple to use; everything’s automated, and updating your changed in real time.

Lastly, throughout the year, employees will need help looking up a doctor or finding an urgent care facility. They might even have some questions about how their plan works. We’ve got you covered here, as well.

Our team is available Monday through Friday. We can handle any call no matter where it is in the country.

It’s so easy to work with Evolved Benefits.

If you haven’t scheduled a call with us, if you haven’t answered any of my reach-outs on LinkedIn, I certainly hope you do.

I want to meet all of you. And of course, I do look forward to talking to all of you very soon.

If you would like to learn more visit: www.evolvedbenefits.com