Employee benefits aren’t what they used to be – or at least they aren’t limited to what they used to be. Medical, life, disability and retirement remain important, but how do employers stand out from the competition?
Benefits help employers differentiate themselves in order to attract and retain quality employees. If that’s true, then offering the typical benefits only achieves part of the goal.
Consider these stats…
What kind of experience do your clients have when they engage the healthcare system? Employers usually hear stories that sound something like this recent LinkedIn post….
Now consider that this quote was from an educated, experienced benefits advisor…UGH!
Do you remember when Haven Healthcare was launched?
It was February 2018 when Amazon, Berkshire Hathaway, and JPMorgan Chase announced a collaboration to do something about healthcare for their employees.
I shared my initial thoughts in this article focused on transparency, tech innovation, and the decision to form their collaboration as a non-profit entity.
So, what do we know after 18 months? I’m sharing 4 updates…
Brokers, do you consider only “traditional insurance products” worthy of your clients’ time, attention and budget? Most of the brokers I work with don’t think this way, but I’ve had conversations with older-thinking brokers boxed into the idea that any benefit outside of the health plan is something they don’t need to care about.
Do you ever find yourself standing at a doorway, pulling hard and getting nowhere? And then realize it’s a PULL door? Yeah. Been there.
Do you dread renewal planning meetings with the constant rate increases and resulting reduction in benefits? Even in today’s price-sensitive market, you can change the story. One common employer complaint is, “We need to get our employees to think differently about their healthcare. How can we get people to be more engaged and empowered?”
How often do your groups experience changes in carriers or plan designs? It’s commonplace in today’s benefits landscape. But, how do you help your groups diminish frustration points that come along with such changes?
Last fall, one of our brokers came to us with a unique challenge in this area which led us to a great strategy conversation – one of our favorite things to do.