NEW YORK, March 20, 2019 /PRNewswire/ -- FSA administrators, Clarity Benefit Solutions, highlights key industry trends for brokers to watch.
Fortunately for brokers, the upcoming year will be full of excitement. While the actual pace of policy change is not as rapid as it has been in recent years, the industry as a whole has proven to be dynamic. Rising health costs are high on employers' priority lists, which means progressive employers are actively seeking ways to build the best benefits possible for their clients.
A notable trend is a host of new options for the small group market, which affords smaller businesses the opportunity to have more flexibility as well as control over their benefits spending in the upcoming year. The ability for smaller businesses to have more choices is key, since larger businesses have had these options for years. This trend has the potential to be a huge game changer in 2019.
A shift in healthcare costs should also be on brokers' radars. Healthcare costs are rising, causing employers to look for alternative care options for their employees. Popular choices include the rise of telemedicine and virtual care. This not only reduces employers' health care costs, but results in employees missing less work.
Another result of these shifting healthcare costs is more employers offering consumer-directed health plans (CDHPs) as the only option for employees. These plans are a combination of a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA), and often means that employees will actively seek the least expensive health care coverage—which ultimately results in employer savings as well.
Also trending is that employers are continuing to personally communicating benefits information to their employees. This is where online platforms come into play. Companies that offer their employees online platforms with decision support tools help ensure the enrollment process is seamless. It is vital that employees have 24/7 access so they can make changes when convenient. Some employees may elect to discuss important healthcare benefits decisions with family members outside of the office.
About Clarity Benefit Solutions: Clarity Benefit Solutions FSA Company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE Clarity Benefit Solutions