As a benefits professional, you already know that a well-crafted benefits package attracts top talent and keeps it in house. But, with the changes we’ve seen over the past several years, employees and job candidates now want more than just a health insurance plan and a retirement savings match. Luckily, supplemental benefits can help fill the gaps left by traditional benefits plans.
Every year, you do your best to inform employees about your company’s benefits during open enrollment. Employees have a deadline to make their selections, and your sole mission is making sure that no one falls through the cracks. But, once it’s over, that sense of urgency disappears.
As a benefits professional, you probably focus on reducing organizational costs and satisfying employees when you design your benefits packages. You strive to provide a variety of benefits so that all of your team members are healthy and happy. You do this because it’s the right thing to do -- and because a satisfied workforce is an engaged, productive workforce.
When selecting benefits decision support solutions, it’s important to know what you are getting. A true benefits decision support solution will be smart, intuitive, quick, and thorough. It should ask questions that are easy to answer and use data and analytics to predict individuals’ health risk.
With all of the changes we’ve seen over the past six months, it’s become clear that benefits decision support has never been more needed than it is right now. If you’re still on the fence about whether or not to implement a decision support solution into your organization, here are 6 reasons that will make it a no-brainer.
When you choose a health plan, you’re making a complex decision for yourself and for your family - and as we all know, the benefits world is not easy to navigate. Most times you end up buying more insurance than you need in order to avoid risk and gain peace of mind. As a result, you could be paying up to $2000 more per year than you would in a plan that is better fit for your particular needs.
While evaluating and choosing healthcare and supplemental benefits may not be confusing or difficult to those of us who work in the field, it’s important to remember that the average employee doesn’t fully understand what they’re looking at when it comes to benefits. In fact, in a survey conducted by UnitedHealth, they found that only 9% (yes, you read that right) of individuals understand all four of these basic healthcare terms:
As a health insurance broker, your job is to help your clients make wise benefits decisions, and they count on you to provide the insights and best practices needed to implement successful employee benefits programs at scale.
The world has gone remote. We are all making adjustments to keep our heads above water, but your charge as a benefits professional hasn’t changed. Open enrollment is coming and you still need to communicate benefits to your workforce to ensure employees understand and value their benefits.
Millions of people must choose a health insurance plan each year. From seniors enrolling in Medicare to the large share of the U.S. population who choose an employer provided offering or selecting among plans on a state exchange, the one constant across all of these settings is that picking the right health insurance plan is extremely difficult.