The responsibility of a benefits broker has been continuously redefined due to the quick economical, technological and public policy changes. As a matter of fact, there are more than 80% of company owners who are still coordinating with a broker and have no plans for withdrawing their partnership and working all the tasks by themselves.
In the recent 2018 BenefitsPRO Employer Survey, several decision makers from different commercial platforms shared their views and insights regarding interesting topics that were on their minds. The participants who took part had important roles in management and human resources. Therefore, this annual survey is significant to those who want their businesses to flourish.
As the traditional open enrollment season starts, employers depend on these brokers for guidance and efficiency. The specific percentage of companies that facilitated by brokers during the enrollment process is 65% with 10% being employers with tasks being administered by brokers. An estimated 52% of these brokers are paid directly instead of working on a commission basis.
Most company owners would continue working with a broker but have announced a few factors that would resulting them replacing their existing broker and hiring a different broker. The respondents in the survey were able to choose a variety of factors presented to them. These factors included: budget, effective consultative approach, quality product offers, and better interaction.
Significance to the Economy
Nearly 64% of companies implied that the status of the economy affects their employee benefits expenditure. While 43% of employers have doubts about providing employee benefits due to current unstable health care programs.
Several companies even pointed out a price surge for health care programs.
Technology and Communication
A lot of employers depend on technology to gain important information and makes their processes more efficient for enrollment, records and compliance. Employers comprising 66% of those surveyed, indicated that technology is essential for the cd company's daily operations, while the remaining percentage indicated it mattered to a lesser degree.
Elevate Insurance offers employers a best-in-class HR Support Center to help answer questions regarding hiring and firing, employee handbooks, discrimination, and other important topics relating to Human Resources.
In addition to brokers, there are other vital sources of information, such as insurance websites, newsletters and magazines, if you want to be updated about health care reform.
Elevate Insurance currently has offices in Las Vegas, Nevada and Idaho Falls, Idaho. We proudly serve all of Nevada and Idaho focusing in the cities of Henderson, Las Vegas, and North Las Vegas, Nevada; and in Ammon, Blackfoot, Idaho Falls, Meridian and Rigby, Idaho.
© 2016 The National Registry of Workers' Compensation Specialists