In the last two blogs, we talked about ways to prove your value as a broker, including being more consultative and saving clients money. In this blog, we’ll talk about one more way to show clients your value: by helping them navigate the complex waters of ACA.
Employers need your help
Even though most provisions of the Affordable Care Act (ACA) have already been implemented, many employers are still confused about their obligations under the law. They may be unsure if they currently comply, struggling to communicate changes to employees or concerned about the upcoming provisions yet to take effect.
While some in the industry have wondered if ACA would eventually put brokers out of business, we’re seeing just the opposite. Employers need support more than ever, and are turning to their brokers for advice and consult. This is a perfect opportunity for you to highlight your expertise and put client concerns at ease.
Conduct an ACA compliance review
Now is the perfect time to set up a compliance review with your clients, to talk about their questions and concerns. Plus, it’s a perfect reason to reach out mid-year, something brokers often struggle with when there’s nothing concrete to talk about outside of the renewal.
Cover these topics in your compliance review:
First, ask if they have any questions about ACA or their specific obligations. There are some complex aspects to the legislation that many employers are unsure about.
Prepare an ACA compliance checklist in advance, and run through each relevant point with your client, to ensure they are up-to-date in their compliance obligations.
Discuss upcoming provisions that will impact them, such as the employer mandate (in effect for some employers now and some in 2016), and the Cadillac tax (goes into effect in 2018), to be sure they are prepared to comply.
ACA has undoubtedly changed the employee benefits landscape, but you as a broker can use it to your advantage. Read this new ebook, Prove Your Worth as a Broker, to learn more tips for highlighting your value to clients. And be sure to share your comments on the topic below!