17 BRAND STORY your HR team, CFOs, and one of the most important pieces that gets overlooked, your employees. “They are the utilizers of the benefits, so what is impacting your employees now?” Colmenero asks. “How do you address their day-to-day concerns so that your benefits truly make an impact?” That’s where a broker comes into play, he says. Partnering with an insurance broker that is actively engaged on your behalf can save time, money, and help workers access the benefits they pay for. A broker that can help drive relevant health conversations within the employment organization,through surveys, educational opportunities, and by establishing committees, effectively demonstrates to workers that the employer is actively concerned about the ongoing quality of the health benefits. That’s another compelling reason it’s best for employers to stay in touch with their insurance broker. An ideal conversation takes place about six months before renewal, Colmenero says. “Have tactical conversations about setting about DEIJ committees, employee surveys, looking at health claim data if that’s provided, and being upfront so that you have a roadmap when renewal hits,” he says. “Ask your broker what’s new? Ask about alternative methods of funding your insurance plan and what kind of free resources are available to my employees.” Access is crucial Of course, benefits are only beneficial when workers understand how to use them. It doesn’t help anyone if employees aren’t using their healthcare benefits because they don’t know how to access them, or opting out on picking up health insurance because they don’t understand it. Again, a committed insurance broker can lessen the education burden placed on the employer, as HR staff are typically overworked and not benefit experts, that’s why you have a broker to help. “The biggest piece about this, health insurance is the second-highest expense employers pay, after employee salaries,” Colmenero says. “So this is a significant budget line item that often blindsides employers. You don’t do that for anything else within your business.” Colmenero reports that during COVID, workers were not utilizing their health benefits in person due to fear of spreading the virus, which gave rise to telehealth, technology giving potential patients an actual face to converse with, and it continues to show positive adoption rates. This is the kind of innovative thinking that a broker can bring to the table. “Telehealth is fantastic for everyday cuts and scrapes,” Colmenero agrees. “And it’s low-cost for the employer.” It’s also an effective way to identify next steps in health care that can help the employee mitigate pricey trips to the emergency room due to a lack of diagnostic foresight. Colmenero says that 2020 was their lowest claim year, and that 2022 and 2023 haven’t equaled pre-pandemic numbers. “What’s happening now is that carriers are pushing it all to next year. We’re seeing increases in carriers expecting a bounceback in 2024.” “The important thing is being strategic in your health-benefit planning before your next renewal.” JACOB COLMENERO
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