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CBIZ, INC.
BIZGROWTH STRATEGIES – SUMMER 2016 |
5
Employee Benefits
BY
JOSEPH E. ELLIS
T
wo years ago, the Affordable Care Act (ACA) was
pretty well established and most employers with
reasonably sound health benefit plans were
meeting the necessary requirements. The general rule of
thumb was that if an employer bought coverage through a
major health carrier, they could usually be confident that
coverage would meet the requirements.
Oh, how much has changed in just a couple of years!
It’s one thing for the ACA to mandate the amount of
coverage that must be offered and to dictate how much
an employer can charge its employees for the coverage,
but it is an entirely different issue when it comes
to reporting the required information to the Federal
Government.
However, we are finding there are other pressing
issues employers are facing that are even higher
priorities than the ACA. One of the most pertinent issues
is attracting and retaining high-caliber talent in a fluid
employment market that demands high costs for hiring
and training.
With these issues as background, it would be wise to
rethink the traits you should look for in a health insurance
advisor in today’s environment. Top priorities should
include:
1. Tenure:
Find an advisor who has been in business for
a reasonably long time. This assures you that he or she
has witnessed the changes in the industry and can
relate to your business. At the same time, you’ll want a
firm that employs an age-diverse group of consultants.
There’s no better way to understand what it takes to
retain top talent than to have the input of different age
demographics.
2. Vision:
Find someone who can see the bigger picture
while maintaining a realistic scope of vision. They
should make room for flexibility in the long term while
recognizing the issues that are of importance now.
Having a vision for what motivates various segments of
your workforce should be paramount, too. The advisor
should be able to translate the diverse characteristics
of your workforce into worthwhile benefit choices.
3. Communication:
You want an advisor who can easily
communicate complex issues in the simplest terms.
The message to you, and especially the rest of your
senior management staff, should be offered as “non-
insurance talk.” Messages need to be delivered fairly,
openly and honestly. Great care should be shown in
any communication to you and your staff, regardless of
individuals’ levels, ages, job titles and incomes.
In summary, you should take a smart, strategic
and thoughtful approach to your benefits strategy. Seek
an advisor and a package that meets your employees’
needs, helps you navigate the labyrinth that is the ACA
and knows what really attracts and retains top talent.
Make sure your advisor has the acumen to see shifts and
advise accordingly. If you get even the slightest feeling of
being underserved, there is an advisor tuned into your
needs just waiting for you to invite them in to see you.
Traits to Look for in a
Health Insurance Advisor
3
JOSEPH E. ELLIS
CBIZ Benefits & Insurance Services
Plymouth Meeting, PA
610.862.2242 •
jellis@cbiz.com• @JEllisSr