Evolving Role of the Benefits Broker

Posted on: July 26th, 2023 by Our Team

Benefits brokers have traditionally focused their efforts on open enrollment periods, during which they help clients select and enroll in health insurance plans. However, in today’s rapidly changing healthcare landscape, it’s becoming increasingly important for employee benefits consultants to adopt a year-round advisor/counselor role.

One way to make this transition is to focus on providing ongoing education and support to clients throughout the year.

By regularly communicating with clients and sharing relevant information on topics such as healthcare reform, compliance, member engagement and cost containment strategies, brokers can position themselves as trusted advisors and counselors. New Benefits offers your clients’ members benefits at their fingertips with our mobile app and offers member engagement emails encouraging utilization.

Another key component of this transition is to provide value-added services beyond traditional benefits consulting.

For example, brokers can offer services such as wellness programs, employee training and development, and HR consulting. By expanding their offerings, brokers can become indispensable partners to their clients and build long-term, mutually beneficial relationships. In one word, the problem New Benefits solves for benefit advisors is complexity. New Benefits provides advisors with a single access point to 40+ of the most highly vetted and sought-after enhanced benefits by groups today.  This allows advisors to completely customize benefit packages for each of their groups, branded to their groups, and New Benefits handles pretty much all of the administration.

Finally, brokers can leverage technology to streamline their operations and provide clients with real-time access to critical information.

This includes tools such as online enrollment platforms, mobile apps, and benefit management systems. By investing in technology or partnering with others like New Benefits who have Client Portals to track utilization and revenue, brokers can enhance the client experience and improve their own operational efficiency.

Overall, the transition to a year-round advisor/counselor role requires a shift in mindset and a willingness to adapt to the changing needs of clients. By providing ongoing education, value-added services, and leveraging technology, benefit brokers can differentiate themselves and thrive in today’s competitive marketplace.