“Choosing the right plan requires the knowledge to make the right choice.” I couldn’t have said it better.
During the Goldman Sachs 10,000 Small Businesses classes and work I learned just how difficult it is for an owner to hear my message. It’s because when I say the word insurance, the label “insurance dude” is applied. That’s fine, except with it usually comes the connotation that I’m going to sell them insurance. It’s a logical conclusion but it would be wrong. Why?
If what I was doing was popular people wouldn’t get to that conclusion, instead they might ask, “are you selling a product or are you providing independent advice?”
The quote I found while reading an article makes my case why I’ve left the “agent/broker/consultant” world to help America do better (watch my video).
So, I’m reading an article written for CPA’s on the topic, PPACA – Obamacare. It’s a 4 page article making recommendations to CPA’s on how to advise their clients on these complicated topics: insurance markets, metal levels, pricing and benefits, government sponsored exchanges, SHOP, private exchanges, self funding, pay-or-play, employer reporting, limited networks and finally underwriting.
“numerous strategies are available to businesses as they try to make the best health insurance choices for themselves and their employees in this new regulatory environment. Choosing the right plan requires the knowledge to make the right choice.”
“Health Care Reform Essentials”, Journal of Accountancy, July 2014; Dietrich, Marks.
This statement could be the description of BenStaff’s Decoder work.
Two critique’s I have about this, first, what a great list of all the new options in healthcare, it demonstrates what I’ve been saying now since March of 2010. The very reason I built BenStaff and BenStaff’s team built the Decoder. On one hand it’s as easy as the article states. But, to optimize the right balance between taking risk (self funding) and low cost and access (limited networks) the question is, who is better suited to advise on these matters?
My team is independent, we don’t sell insurance, and we have much deeper knowledge of benefits especially healthcare. Having former underwriters we know risk and pricing in groups and individual markets, our actuarial team provides expertise to the Decoder, our CEBS specialists cover the plan in operation requirements of the DOL, HHS, CMS and the IRS. And, we encourage a businesses advisors to offer their best thinking so don’t miss something. A small businesses CPA, CFO, HR executives, attorney’s or other advisors are welcome to contribute. No one person has all the answers but we believe we’re as close to that as possible.
Our structure gives us dominance and reach into every market and option available. Overall, our Decoder is the answer to the question posed to owners and CPA’s at the end of the article, beautiful;
“Choosing the right plan requires the knowledge to make the right choice.”
I couldn’t agree more.