With each client and prospect, there is one common thread to the discussion: “It’s no longer just about….”
Insurance is about tax, Insurance is about compliance, Insurance is about administration, and Insurance is about technology solutions….
True. All of these facets are creeping into the conversation.
In the last 5 years and maybe a tad bit longer the tradition of money exchanged upfront to offset risk has undergone a transformation by addition.
From 2014 to current day, the largest two conversations surrounding health insurance plans focus on Taxes and Compliance.
Tax penalties and Tax credits are the first pain point for most. Fear motivates, and the fear of tax penalties hit with the biggest stick. Hope of Tax Credits doesn’t have a big voice in the Employer arena, and rightfully so as they are only for a small population.
Compliance is the 2nd fear factor. There have always been $100 per pay per Employee penalties at risk for ERISA and Department of Labor violations, but Healthcare Reform now takes center stage as the ringmaster to the compliance arena with the additional reporting responsibilities and their own new additional fines from $100s to $1,000s to Millions if your practices are out of line.
Insurance, right? We were talking about Insurance?
Once the blood pressure comes down a little bit, fear shows its face in a new way. It’s all got to be done so the duties become personalized, and quickly the search for efficient and accurate solutions begins the conversation about technology and automation of the mundane.
We get excited about this step. Not because we all wanted to be programmers or data analysts when we were kids, but it’s the first step back to focusing on what we love. Once we automate the fixed and absolute rules two things happen.
#1. You and your personnel let fear of a burden subside and hope of manageable and meaningful work performance becomes a possibility.
#2. The “It” becomes about the effective, meaningful plan. Designing the plans and paying for a Health or a Dental or a Disability takes attention. This means improving your life and the lives of your employees and their families is center stage. The value proposition for the money you spend is now squarely back and the #1 objective.
The “It’s no longer about…” statement will creep up here and there, but the solutions are in place for a way out and a way back to the items that are most important.