seeing through the fog - plansourceplansource.com/collateral/plansource-webinar-seeing... ·...

Seeing Through The Fog The Top Trends in Employee Benefits in 2017

January 24, 2017

2

Will the webinar be recorded?

Yes!(We will send you a link to the recording after the webinar).

3

Will the slides be available?

Yes!(We will send you a link to the PDF after the webinar).

4

How do you ask questions?

Type your question into the “Questions” panel

Better Technology for a Better Benefits and HR Experience

PlanSource is a technology company driven to create a better benefits and HR experience for employers and their

employees. We offer flexible and intuitive software for benefits administration,

insurance exchanges and human capital management for nearly 10,000 employers

and 3.5 million consumers.

About PlanSource

Benefit Technology Resources - commonly known as BTR - is an HR Technology

Consulting Firm that specializes in evaluating a client’s current state of technology

utilization, and facilitating the process of troubleshooting or implementing additional

resources in order to streamline manual processes and create efficiencies.

BTR is independent and our only objective is to help each client to embrace technology and the opportunities

to make their lives easier.

About Benefit Technology Resources

7

Today’sSpeaker’s

Ryan GlushkoffPlanSource

Josh HooverBenefit Technology

Resources

1. State of the employee benefits market

2. What’s trending on the regulatory front

3. What’s trending on the benefits front

4. What’s trending on the technology front

5. Question & Answer

Agenda

The State of the Market

TheLaborMarketThe war for talent is heating up

100

10

20

30

40

50

60

70

80

90

16 years and over

16 to 19 years

20 to 24 years

25 to 54 years

55 to 64 years

65 to 74 years

75 years and over

1992 2002 2012 2022State of the Market

TheLaborMarketThe job market is tight

State of the Market

Employer-Based Coverage

0

50

100

150

200

250

300

2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Health Insurance Coverage for People Under Age 65

Total Population Under Age 65 Employment-Based Coverage

State of the Market

The State of the Employee Benefits Market is Strong

The Labor Market is Tight

Employer Coverage is Critical

State of the Market

What’s Trending on the Regulatory Front

“We’re going to have insurance for everybody. There was a philosophy in some circles that if you can’t pay for it, you don’t get it. That’s not going to happen with us.” People covered under the law “can expect to have great health care. It will be in a much simplified form. Much less expensive and much better.” ~President Donald Trump

The NewPresident’sPerspective

What’s Trending – Regulatory Front

“It’s not going to be their plan; It’ll be another plan. But they’ll be beautifully covered. I don’t want single-payer. What I do want is to be

able to take care of people.” ~President Donald Trump



“…ensure that the law is being efficiently implemented, take all actions consistent with law to minimize the unwarranted economic and

regulatory burdens of the act, and prepare to afford the states more flexibility and control to create a more free and open health care

market.” ~President Donald Trump



“If you’ve got a generous employer plan already, you were fine in the pre-ACA world and you’re going to be fine in the post-ACA world. Employers offer coverage because they want to have good talent, and people demand it. In the short-term, at the very least, those people are going to be ok.” ~Matthew Rae, The Kaiser Family Foundation


What IS Expected to Stay the Same


PreventativeServices



Limits onBenefits



Limits onBenefits


YoungAdult

Coverage



EmployerMandate

What’s NOT Expected to Stay the Same

EmployerMandate


CadillacTax


EmployerMandate

CadillacTax

IndividualCoverage



Current 10-Year Projection for Employer Coverage

166M

155M

152M

0M

M

2016 2026

-2%


Possible New Projection for Employer Coverage?

166M

155M

152M

0M

M

2016 2026

+7%


CarrierConsolidationContinues

$91 billion mergers



$37 billion merger+ =



+ = $54 billion merger


CarrierConsolidationQuestions


Will medical premiums go up or down, and at what rate?




Will consumers have a better experience in dealing with a bigger entity?





Will consumers have more choice in terms of providers?





Will consumers have more choice in terms of providers?

Will carriers need to adjust their market presence?

What’s Changing on the Technology Front

Explore Outsourcing for Benefits and/or HR

What’s Trending – Technology Front

EmbraceTechnologyFor Enrollment


Employees are Consumers of HR Services

Methods OfCommunication

The Employee Experience Matters(a lot)

Employee

Responsive Design Email In Person Social Media


Methods OfCommunication

The Employee Experience Matters(a lot)

Employee

Responsive Design Email In Person Social Media

Education Shopping Cost Comparison Plan Recommendation


DecisionSupport


The Employee Experience Matters!


The Administrative Experience Matters Too!

Is a Holistic Approach Best for Me?


Holistic HCM Point Solution

• Typically, Payroll is core• Many modules• Real-time integration• Single Database• One vendor• Generalist in additional

modules

• Subject Matter Expertise• One module• File transfer integration• Additional database• Additional vendor• Much more robust functionality


What is integration/data exchange?

How does it work? (real time vs file transfer)

Is it difficult to setup?

What’s Changing on the Benefits Front

Brokers Need to be Advisors

Tomorrow’s broker needs to be advisor on

Best practices in human resources



What technology tools are needed




Ensuring that you’ve got the right people on staff





Crafting the right compensation program






Staying compliant with government regulations






Staying compliant with government regulations

Internal company procedures

High Deductible

Health Plans

Managing the Financial Side of Benefits Offering

What’s Trending – Benefits Front

High Deductible

Health Plans


Shifting Costs to Employees


High Deductible

Health Plans

Shifting Costs to Employees

Insurance Carrier

Contribution



HR Needs to Think Like a Marketer

Hire the right people for the team

Increase productivity of existing team members

Remove the wrong people from the team

Acquire new profitable customers

Encourage existing customers to buy more

End relationships with unprofitable customers

People Are…. Your Customers


Get to Know Your Workforce

State of the Market

Just ask!Survey your employees and

talk to them in person.

1

Look at the data.Export demographic info

from PlanSource.

2

How to Segment Your Workforce

Your WorkforcePopulations

Your BenefitsCommunications

Your Benefits Offerings

For Large Companies For Small & Mid-Size Companies


How to Segment Your Workforce


Source: Unum

Only

58%of employees say they actually understand their benefits well.

7%of employees admit they don’t understand their

benefits at all.

Communication is Critical


How to Communicate Benefits

PlanSource

Website

Email

Microsites

Print MaterialsDistributed On-site

In-Person Meetings Intranet

Print MaterialsMailed to Home

Text Messaging

Print MaterialsPosted on Site

Events/Conferences

Social Media

Best Channels to Drive best-in-ClassCommunications


State of the Employee Benefits Market

Summary of Today’s Webinar


What’s Changing on the Regulatory Front?




What’s Changing on the Technology Front?




What’s Changing on the Technology Front?


What’s Changing on the Benefits Front?

Q&AYour Questions. We (try to) Answer.

seeing through the fog - plansourceplansource.com/collateral/plansource-webinar-seeing... ·...

Documents