Benefits brokers are now tasked with guiding companies on their potential benefit options and working with employees to determine the quality of the options available. But the role of Napa County employee benefits broker has evolved considerably over time. And in this latest post, we’ll look more into how the role has evolved, from decades ago to the current industry.
The Role in the Past
In past decade, the role of a Napa County employee benefits broker looked very different to how it looks now. The important element to note is that there were many more brokers in the past, with more options for companies to select from. The primary roles of the broker at the time included:
- Consulting on issues related to HIPAA, COBRA and the FSA.
- Acting on insurance transactions to connect companies and insurers
- Handling billing issues such as unpaid claims and incorrect bills
- Negotiating with the carriers for their clients and marketing work
The New Environment for the Broker
The consolidation of the brokerage marketplace means that the broker’s role within the industry has changed significantly, even from just 10-to-15 years ago. Their new role encompasses a range of elements of the trade. Brokers are now considered to be experts in various areas of the insurance marketplace. For example, to become an employee benefits broker in Napa County, you must have a clear understanding of the following:
- Compliance law
- Insurance technology
- Wellness data and programs
- Cost management
- Public speaking
- Employee engagement
- Client retention
- Customer service
In many ways, the Napa benefits consultant of the past has become the business consultant. They’re there to help companies move forward in meeting the needs of employees while maintaining a commitment to the latest regulations and their budgetary requirements. Our team here at Arrow Benefits Group has witnessed this change in the marketplace as benefit brokers, and we’re now offering an expert-led service to help you get a full return on investment from your broker. To learn more about our employee benefits services, call today.