We had a conversation with a broker recently who said they were able to save significant costs for a large group. Changes were implemented into the plan, but some employees had questions. Lots of questions. This noise gave the employer the impression that the plan is not working for their employees.
The company decided to pay more for their insurance and return to the old model because that’s what employees were more familiar with.
In health insurance, everything has been built to maintain the status quo. Many employers are used to interacting with their brokers, or insurance carriers, in a transactional way. The insurance program is delivered year after year. Occasional improvements may be discussed, costs are likely negotiated, and the insurance program is set for another year.
Employers and employees may not fully understand aspects of their health care program. When employees do have questions, they can call a 1-800 number for customer service where they may be put on hold, sometimes transferred to another department. While this is tedious for employees, they become used to the process.
Brokers and carriers are content and employees know what to expect.
Insurance carriers are happy with the current system. The Affordable Care Act is designed to provide affordable health insurance for Americans and protect people from being denied care. However, these regulations have created guaranteed profit for carriers with no incentive to reduce costs, because the more people pay for insurance, the more money carriers make.
This disincentives brokers to step away from the status quo because profit is difficult to deny. Also, generating ideas to improve a clients health insurance program can be harder. Some brokers don’t want to risk losing a client because the strategy failed to generate cost savings or employers are unhappy.
Now imagine you could reach someone directly.
Advisors, like us, who are willing to break the status quo, can deliver successful strategies designed with your unique workforce in mind. We are continuously evolving, analyzing and improving how we work so we can bring our clients the best in health care insurance. What we do isn’t a quick fix. Processes are strategically implemented and, depending on the organization, can occur as incremental adjustments.
Any change can create some confusion and generate questions. Many employees have been using the same health care plan for years. When the process changes and employees gain access to someone who can give a more personalized experience, they may be more inclined to reach out.
Not because there are more problems, but because employees are being heard.
The reality is, employees likely had problems with the previous plan. The difference– they knew what to expect. Time, education and attention, can allow employees to navigate new plan elements. A good advisor will take the time to listen and address the concerns of employees and employers.
This level of interaction means employees can receive a more personal experience. They can participate and ask questions about their health care insurance in a way they couldn’t before. This creates a lot of noise. But that noise can be productive.
New doesn’t have to be problematic. When your people have the right support, you may find they have a louder voice. We are always ready to listen. If you want to talk about your employee benefits, let’s chat!