By Jeff Yaniga, Chief Revenue Officer, Maestro Health
ICYMI: Originally posted by Broker Innovation Lab
The Affordable Care Act (ACA) has shaken the health care industry on all levels. On top of the increasing complexity of health care and a wave of new administrative requirements, HR departments across the U.S. are burdened with keeping up with growing employee demand for a personalized, streamlined employee benefits experience.
However, through all the headaches and uncertainty, the ACA has helped ignite a long-overdue renaissance across the entire employee benefits industry. A recent study by Sierra-Cedar HR Systems found that the ACA “has created renewed energy in the benefits space, and organizations are beginning to rethink their benefits packages, solutions, and their workplace programs to wellness and productivity,” and that “one third of organizations are planning a systems integration initiative, (which) is up considerably from last year.”
Employees want a benefits platform with a simple, people-friendly experience. At the same time, employers want simple too. They are demanding technology and services that streamline the process and keep up with compliance. As a result, the industry consensus is that technology is no longer a “value add” for brokers, but a necessary core offering, as well as a must-have for business growth. Brokers who can deliver innovative, yet proven technology solutions to their clients will be left standing as the ACA dust settles.