Benefits enrollment can be a challenge for any broker. Staying in compliance, customizing benefits based on different employers’ needs, and providing post-enrollment support, all while trying to meet high client expectations, is a lot to handle, though not impossible. However, mistakes may be likely, and deadlines can be missed.
For the latter reasons, partnering with a third-party benefit enrollment firm is a solution to consider. In fact, this is something many brokers do. Read on to see why brokers are using these third parties more than ever before.
Efficient Enrollment Minus the Burnout
Open enrollment can be a hectic time. Pair this limited period with the fact you’re juggling multiple clients at once, and you’ve got yourself in a high-stress position. The less time you have and the more clients you have under your wing, the more likely you are to make simple errors or burn out from high stress.
A third-party benefits enrollment firm can be especially useful during this time. They’ll efficiently deal with the increased volume during busy seasons, ensure enrollments are processed quickly without error, all while keeping on top of strict deadlines to keep your clients’ employees from having a gap in their health insurance coverage.
Access to Advanced Digital Tools
Many brokers don’t have digital tools for enrolled employees to take advantage of. On the flip side, many third-party enrollment partners offer tools like self-service portals and mobile access for employees. Digital enrollment services also usually integrate with a company’s payroll and human resources information systems.
Guidance for Employees
Brokers often struggle to find the time to communicate with a client’s individual employees. This can make the job difficult for the broker, and for the employee, this may mean not getting the adequate support they need.
Fortunately, a benefits enrollment firm is dedicated to providing top-notch pre- and post-enrollment communication to each employee. These firms often provide live chat sessions, call centers, or virtual assistance to ensure enrolled employees get the help they need when they need it.
Fewer Enrollment Mistakes
Common enrollment mistakes brokers make include misunderstanding health plan details, missing enrollment deadlines, or submitting incorrect data. Working with a third-party benefits enrollment firm will ensure enrollment mistakes are rare, if ever. This way, you can keep your clients free from fines, audits, bigger HR costs, and lawsuits.
Improved Bonds Between Brokers and Clients
Due to the efficiency and accuracy third-party benefits enrollment partners provide, the bond between a broker and their clients is sure to improve. Brokers also get more free time to focus on other tasks, providing a better client experience overall. In the end, making use of this third party is better for everyone involved.
We understand how tiring administering employee benefits can be as a broker. This is why we’re proud to be in business as a benefit enrollment firm. Here at Employee Retention Benefits, our goal is to make brokers’ jobs easier while keeping both employers and employees happy. Call us now to see how we can help.
