Feb 25, 2:00pm Do you feel more like a compliance officer and less like a benefits broker? The new 1094-C/1095-C reporting requirements have put a strain on both employers and brokers, but they are also creating opportunity.
Benefits administration is an onerous task for businesses of any size, and the passage of the Patient Protection and Affordable Care Act (PPACA) has added a further layer of complexity to the process, particularly for small and mid-size companies. Whereas once employers had the freedom to decide whether or not to offer health care to their team, now businesses with 50 or more workers are bound by a federal mandate to provide insurance coverage. For SMBs, the added expense of benefits plans combined with the resources needed to administer programs successfully can have a dramatic impact on the bottom line.
Healthcare costs are increasingly unsustainable for employers and employees. Could an entirely new approach—one that leverages a benefits platform to reach employees when and where they make healthcare decisions—help bend the trend?y