How do businesses of all sizes renew their benefits plans each year? How do they reconcile with conflicting forces to offer change and stability? Within many industries, there are powerful forces toward change, such as the arrival of new technologies, new competition and new strategies to master. Additionally, there are other forces demanding stability, such as the need to enhance what an organization has and avoid risky unproven projects. In this installment of CenterStage, Clint Parker, our Operations Manager and an Account Executive at JA Benefits, offers insight for employers of all sizes on how to strike a balance and master their benefits renewals.

Long-Term vs. Short-Term Competitive Forces Increase the Need to Shift Employee Benefits

A proactive and strategic approach is thinking and planning ahead, because, let’s face it, the status quo is no longer just the status quo. Clint noted, “Your benefits are going to evolve; you want to be out in front and not reacting to changes as they happen.” He believes you must “be an innovator” in your efforts, and you must have a grip on what is to come and how to manage your assets to prepare for change. Finding a clear difference in employee benefits providers can be difficult if you are simply comparing through a bid in a binder at renewal. JA believes difference is a quality that is experienced not simply through a label within a marketing message, but rather by partnering with the best advisor to offer a clear sense of direction. JA has partnered with employers since 1988 to deliver the most competitive group benefits plans. As strategic experts, we can help you with any and all benefits programs, working with multiple carriers across the nation to bring you the winning solution to remain at the forefront of long and short-term changes.

Upcoming Noteworthy Changes to Benefits

As a result of the Affordable Care Act (ACA), employers and employees have likely noticed changes over the last few years in their benefits plans. As such, the need for evolution continues to be top of mind for many businesses and thus the need for establishing innovative funding methods, such as healthcare purchasing coalitions, has increased, along with an evaluation of employers’ funding mechanisms, such as being fully insured, level/split funded or self-insured. Clint stresses to employers that they need to know the details of their expenses and should not take a cut-and-dry approach to making decisions off broad concepts. Dig deep, leave no stone unturned and know the ins and outs – learn to put the power of data and technology on your side to get an accurate, up-to-date analysis when you need it, where you need it.

Something else employers should keep in mind this benefits renewal, as it pertains to the Affordable Care Act (ACA), the individual mandate is subsiding. This will be sure to impact decision-making during the enrollment process and should be considered during strategic planning, since employees are no longer required to enroll in minimum essential health coverage to avoid paying a tax penalty.

Mastering Your Renewals with a Trusted Partner

With JA, our difference equates to real action and meaningful outcomes for your business. We have a profound strength in our desire to listen to you to incorporate your unique vision and goals effectively. JA is not an off-the-shelf solution or a simple transactional broker – we are your partner. We understand there is no one-size-fits-all approach to employee benefits. We put you in the driver seat to ensure an optimized and perfectly crafted plan. Placing our clients ahead of current trends by employing predictive analysis, there is never a worry about gaps at the last minute. Our focus stays on what is best for you and your employees from the initial handshake to the delivery of results today, tomorrow and in the future.

What does it look like to master your benefits? It is truly evolutionary. It puts you in proactive control and engagement as opposed to reactive chaos. Evolution serves to provide a clearly defined, successful journey for each individual client that incorporates your specific company goals, while providing quantifiable outcomes that align with the success that matters to you. Ready to evolve? Visit us at today. You can also reach Clint Parker for further information at 812.329.6057.