How To Conquer PPACA/Obamacare- Part 2 -- A Battle Plan For Brokers, Employers And Carriers

Nov. 24, 2012 - PRLog -- HOW TO CONQUER PPACA/OBAMACARE -- Your Solutions for  Disruptive Change!

This Second Article will provide Workable, Efficient, and Cost-Effective Strategies for Brokers and Employers to deal with PPACA/Obamacare for the 2013 Plan Year and Beyond.

The 5 Integrated Strategies -- Here's where we left off with the Last Post.

The following can be Integrated or Stand Alone.  They provide tremendous value!  On an integrated basis they work together to deliver the Broker and the Employer seamless Solutions to the Disruptive Changes and Compliance with PPACA.  

1)  Private Exchanges - For offering Core, Voluntary/Worksite, and Ancillary Plans, Programs, and Services to Employer Groups - Small, Medium and Large!  

Advantages - The Broker and the Employer become the Efficient and Cost-Effective conduit for:

    > Providing Employee/Individual Education and Communication.
    > Providing Enrollment Choices.
    > Providing Data Management and Distribution Services.

2) Defined Contribution(DC) Plan Design for providing: Employers budgetary controls; Employees valued choices; Brokers positioning as "Trusted Advisors"!

Advantages - This creates an understandable Insurance/Benefit Plan Design providing the following opportunities:

    > Employers are able to Budget their financial contribution annually to the Insurance and Benefits.  
    > Flexibility to offer a self-funded Plan that provides incredible flexibility.      > Brokers are able to assist the Employer or Individual in building a "Menu" of Insurance/Benefit Choices.

3)  Integrated Benefit Choices - For providing Employees and Individuals the capacity to meet their Needs and Price-Points.  The Broker - working with the  Employer - selects Carriers and the Plans, Programs and Services creating a "Menu" of Choices, including Core, Voluntary/Worksite, Ancillary Benefits and Tax Advantaged Plans.  Tax Advantaged Plans include:

        A) Section 105 and 125 of the IRSC

        B) Medical/Health Reimbursement Accounts

        C) Dependent Care Reimbursement Accounts

        D) Transportation/Parking Reimbursement Accounts

Advantages - Offering an integrated set of Plans, Programs and Services creates Win-Win-Win Opportunities: Brokers, Employers, and Employees WIN!

4)  Integrated Support Technologies - For Employee Education, Communication, Enrollment and Data Distribution Management!  A select group of Internet  Software and Cloud Based Companies can now provide the back office technology required to support Private Exchanges integrated with Defined Contribution (DC) Plan Design and Integrated Insurance/Benefit Choices.  

Advantages for Brokers and Carrier/Providers include:    

    > Provides Empowered Education to Employees, Individuals, and their Families.
    > Choices of Enrollment Capacities.
    > Data Distribution Management

5)  Inbound Marketing - For Shortening Selling Cycles, Reducing Marketing Costs, and Driving Revenues for Carriers, Brokers, and Service Companies by leveraging the Power of the Internet, Search Engines, Social/Business Media, and SEO!

Whats next?  It's time to define your role in Post PPACA and get moving to Change and Participate!  The only choice for Brokers is to CHANGE or PARISH.  Here is what Parties to Insurance and Benefits should act on:

        1) Carriers - Design differentiated Plans, Programs and Services that are compliant with PPACA and that Meet the Needs of Brokers, Employers, Employees, Individuals and their Families!  Embrace participation in Private Exchanges, and Defined Contribution Plan Designs.

        2) Brokers - Take advantage of the above Strategies!  Dedicate your time and efforts to informing you Clients and Potential Clients about PPACA.    

        3) Service Companies - Define your specific area of expertise and what differentiates your Organization in the Insurance and Benefits Marketplace, ie. type of: TPA, Enrollment Company, Technology/Software Provider, etc.  Gain a thorough understanding of the PPACA Regulations as they roll-out and that apply to your Sector of the Industry.  Understand the needs of Carriers, Brokers, Employers, Employees, and Individuals.

        4) Employers - Embrace the Disruptive Changes created by PPACA/Obamacare!  The 5 Strategies outlined above not only substantially reduce your time spent on Benefits Decision-Making but also deliver Predictable and Controllable Benefit Costs.  You should fully grasp the importance of Communicating with Employees!  Provide the time for Enrollment - whatever the system or methodology.  Shop well for your Broker(s).  They should be able to improve your overall Benefit Plan Design while Reducing your Costs.  Treat your Broker as "Trusted Advisors". Discuss compensating them on a "Fee Basis".  The Broker's commissions from Health Plans is disappearing and yet your needs for their Services is increasing.  

        5) Employees, Individuals and Families - The responsibilities of Choice and Consumerism have shifted to your shoulders.  While in most cases the Employer will continue to contribute Dollar/Credits to support your Insurance/Benefit Needs, you will need to understand your Choices of Health Plan Coverage - Exchange Based and other - as well as the selections of Voluntary/Worksite and Ancillary Plans, Programs, and Services!  When participating in Consumer Driven Plans, ie. HDHPs, HRAs, HSAs, Flex., etc. you will be provided an opportunity to allocate your dollars in the selection of Care - Buy Wisely.  If affordable, consider paying the Advisor on a Fee Basis.  They Should Work For You - Not The Carrier!

Partnering - We are continuing to build our Affiliated Partners to better deliver the 5 Integrated Strategies.  Please Contact Us To Discuss Working Together!

If you have Questions about the above 5 Strategies, How they apply to you, or How to Participate - Please Visit www.benefipPlace.biz  Email max@benefitplace.biz or Call 216.577.5579.