You’ve got to be able to trust your broker. In today’s business world if you want to do something different with your benefits program, you need to trust that your broker knows what they’re doing. If not, your school board could unknowingly end up on the losing side.

In 2013, University of Louisville fans, coaches, and players believed they played a flawless game, winning them the NCAA championship. But it turns out they didn’t. Some of the team members were exhibiting dishonest behavior and as a result, the title was vacated.

A title that could have been advantageous to the lives of each player, coach and the University as a whole. Don’t let this happen to your school, to your staff. If you can’t trust your broker to make beneficial suggestions, based on your unique workforce, you can’t trust your benefits program is ideal for your school.

Trust is a delicate balance.

Knowing if your broker is truthful can be difficult to assess. The relationship between you and your broker should be transparent with strong, consistent communication. Be wary of people who stretch the truth or give immediate answers to all of your questions.

We have been talking to a CFO who is facing this challenge. He knows there is a problem, but without a trusted advisor to help, he is attempting to navigate the healthcare industry largely on his own. This has introduced complications and friction in the renewal process, because healthcare is not the CFO’s expertise.

Managing your benefits program alone is not a feasible option for many employers, as benefits can be extremely difficult and time-consuming. That’s why having a trusted broker on your side to help you make decisions for your school and your people is important. You need someone who takes pride in providing the best for their clients.

Where to begin.

To determine the culture of your broker, you need to set expectations, ask questions, initiate conversations and consider answers carefully. A request for proposal (RFP) process is a tool some employers utilize because it will allow you to examine prospective insurance brokers. However, this process should not be used alone because it doesn’t give you enough insight into how your potential broker operates and you could fall short of your goals.

Some key considerations and questions that you should focus on when assessing the relationship between you and your broker are:

Consider your business’s process and what you expect from your broker. How do they impact the bottomline? How do they build a strategy?
Talk about where you’re uncomfortable or where you are confused in your plan. A good broker can propose new, bold and exciting options, so be sure you fully understand the mechanics, not just the salesmanship.
Ask for clarity on both sides. Where do they contradict? Where are they similar? Don’t immediately agree with what the salesperson promises in a single meeting.
Accountability and transparency should be tied to everyone involved, including your broker. How are they compensated? How are they held accountable for their promises? How is their performance measured? What happens when they succeed? What if they fail?
Start this process, and examine these matters a year or more ahead if you can.

New transparency rules will help you trust your broker is doing what is best for your school. The rules require brokers to disclose compensations they receive, which will give you a better idea about where recommendations are coming from.

The rules also come with an additional set of rules for employers, rules that make you responsible, emphasizing the need for a trusting relationship with your broker. Learn more about these regulations here.

Something to keep in mind.

A great broker should be an asset to your school. You should be able to rely on them to keep your plan updated with new regulations and rules. They should be able to introduce new options and have recommendations about ways to engage and educate your staff about your benefits program.

But, be wary if your broker has all the right answers right away. A lot has changed over the past eighteen months, so someone who has all the right answers could be stretching truths.

University of Louisville may have won the 2013 NCAA, but the success was short lived. The team has been left with only a memory of a tremendous title due to dishonesty and poor decisions. You need to have a trusting relationship with your broker or you could be left with benefits that don’t represent your school.

You deserve to have a broker that is open and honest with you. Ask the right questions and don’t settle for all the right answers.

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Do You Want What’s Best for Your Employees?

October 12, 2021

Your staff is one of the most important aspects of your school. For this reason alone, when it comes to your employee benefits, you need to make the right choices and decisions for them.

Often, we choose to make quick, easy decisions in our daily lives and if we apply this technique to our employee benefits we could be doing our staff a major injustice. Yes, the healthcare industry is confusing and complicated but if you don’t focus and prioritize the benefits you offer, you cannot say with confidence that you’re providing the benefits your staff actually requires.

You need to start asking yourself if you really want what is best for your employees. In modern business, there is no acceptable way to answer this question with a simple “No”. However, there is room for uncertainty. If your answer is yes, but you’re unsure how to proceed, you are still headed in the right direction.

Health insurance can be difficult, but your people deserve the effort.

Knowing what’s best.

Currently, employees are bankrupted by health insurance costs. Some are receiving low quality care, they are being sent to collections, and they are confused. All of these concerns equate to a workforce that may have a difficult time focusing on what matters most, the students.

If you really want what’s best for your people, you need to actively try to solve these issues. There’s a call for us to try. Although making changes to your benefits plan is not always easy, you don’t want your people in medical debt. With a poor surgeon or a bad health outcome.

Some key areas to begin your focus are:

Education. Your employees might not understand how your benefits work, what they are eligible for, or even how to apply. By educating employees about their benefits — new hires and continuously throughout their employment — they will have a better understanding of what’s being offered to them.
Plan ahead. Set a schedule and assess your timing. Know when to address your benefits plan and address it regularly, especially before renewal season begins. Don’t avoid or delay this process.
Revenue options. Your spend can do more than you think. By analyzing your data you can gain insight about where your money is going and if you are getting a return on your investment.
Communicate with your leadership team. They may have concerns that need to be addressed such as employee engagement, retention or absenteeism.
Communication with your people. Your employees are a reliable source of knowledge, only they can tell you what they need and if the benefits are working for them.

We can argue that some of the best things in life are difficult to achieve. We can also argue that some of the best places to work are those who fight for their employees. We need to support our people, now more than ever. Medical debt is a growing concern in America and your teachers and staff are not immune.

Doing what’s best.

Employee benefits are there to protect your people. They are also a big part of your business’s costs, which should make them a priority to the school. If your plan is not set up to provide the best for your employees, there could be hidden revenue that could be put back into the school in a more meaningful way.

Your staff are crucial to the success of your school board, you need to make sure they are taken care of to the best of your ability. If you need help, or have any questions, don’t hesitate to reach out.

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When Health Insurance Companies Merge

August 24, 2021

As an employer, you should be aware of changes occurring in your health insurance policies. This is especially true following an acquisition because when a large health insurance company steps in, your policies could be adjusted, which can affect your school in a significant way.

By definition, an acquisition is the act of gaining a possession, or in other words, an acquisition is when one company takes over another. When an acquisition occurs between health insurance companies one will receive the clientele along with the company and when that occurs, modifications to the policies can be made.

Although these changes may not be obvious at first, slowly over time your policy can shift in a direction that benefits the insurance company and not necessarily your school.

Large companies can be wrapped in bureaucracy

True story — a school that we work for purchased insurance from a small health insurance agency and was happy with the service they received for a number of years. Eventually, the owner of that company decided to retire and sold the business to a larger health insurance company. Over time, the school’s insurance policy slowly became more about driving efficiencies toward the insurance company’s revenue and not the schools.

At a certain size, health insurance agencies can become less personal and direct because of the bureaucracy involved. Incentives are easily misaligned and policies and procedures become layered, preventing creativity and flexibility for brokers and agents. These situations are unfortunately more common than you might think.

Know what information is important, and who to get it from

If your school’s health insurance company is considering an acquisition there are several key points to keep in mind, such as:

Request your policies data and be sure you receive it in a timely manner.
If your policy has changed over time and no longer fits your company culture, discuss your options with your provider to make necessary adjustments.
If a broker is suggesting a specific plan or carrier, ask if there is a different commission or monthly fee for that particular plan compared to others that are not being recommended. It is your right to know if incentives are being offered.
Maintain communication with your employees during renewal time as well as periodically throughout the year, to be sure your benefits align with their needs. If there are employee complaints or desires, be sure to bring them up with your provider.
Customer service can suffer after a merger or acquisition. If you find you are not getting the help you need, you may need to consider another carrier.
Stay on top of your health insurance policies, or bring in the help of an advisor who can help. Remember that maintaining a good health insurance policy needs attention throughout the year, not just at renewal time.

By staying informed with the correct data and asking the right questions you can help keep your health insurance policy working to its full potential. Remember to include opinions and information from your employees as well as your broker or agent.

Your employees can give valuable feedback

Cara Silletto, a workforce thought leader from Magnet Culture recommended in a recent Conner Chat webinar that companies should “…conduct pulse surveys, not just annual one-time surveys but regular one or two questions out to different pockets of the employees to collect more valid data.”

By collecting this data and information you can get a better understanding of what is happening with your policy and remain mindful of any changes that are occurring throughout the year. Then, you can take this knowledge to the insurance provider to keep your policy moving in the right direction, which is a quality, cost-effective benefits program for your staff and school.

When health insurance companies merge, or an acquisition takes place, the immediate effects to your company’s policy aren’t always obvious. Know what questions to ask, what your plan options are and where the recommendations are coming from.

If you need help with your health insurance policy don’t hesitate to reach out.

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Leading Your Post-Pandemic Workforce

August 24, 2021

With new rules and regulations, the post-pandemic Olympic Games has been a different experience for athletes and coaches alike. But perhaps one of the most talked about events of the Summer 2021 Olympics has been Simon Biles’ surprise withdrawal from the games. And her reasons are honorable.

The Olympic gymnast, who is considered to be one of the top gymnasts of her time, withdrew from the summer games to protect her mental and physical well-being. Her coaches and teammates are all in support of her decision because they know the consequences of continuing to compete in the Olympics could have been disastrous.

The strength in admitting this to the entire world is admirable, a lesson our teachers should be sharing with all of our students.

Closer to home than we think

The pandemic has affected all of us in different ways and as we head toward a post-pandemic way of doing business, we can look at Simon Biles decision to protect her mental health and apply it to the inner workings of our schools.

To do this, we need to take a step back and look at the way we are leading our people. We need to support them on an individual level, representing any concerns or needs they may have. If we take care of our people on an individual basis we can make our teams, and our schools stronger.

Dig in and talk to your employees

Taking care of our employees is more than ensuring we have the proper protocols in place, we need to dig in and reach out to each employee to confirm we are taking care of everyone.

For example, a friend of mine works for colleges by participating in an extensive mental health awareness program. He is always on scene to talk with high-risk individuals, helping them through their crisis. While it is an excellent way to support staff and students, no one took the lead in caring for my friend, to help him deal with his own trauma of absorbing everyone else’s. He is trained to deal with suicidal people, but nobody looked at what he would need to decompress after those experiences.

A missing step in a protocol designed to help employees. How can we protect our own people from situations like this? We need to take it back to the benefits. We need to look at how employees respond to us as an organization. In a recent Conner Chat webinar, Ben Conner talks about mission-driven benefits, which can help us be more efficient with our insurance benefits.

By considering our employees individually in our benefits strategy we can create a better deliverable for our schools and allow our staff to feel a part of our culture and by doing so we can unlock revenues that we can put back into the business, to take care of our people.

We can also open the doors of communication to allow our staff to feel comfortable telling us when something is affecting them on a personal level.

Support your company culture

Simon Biles felt comfortable making a tremendous decision at this year’s summer games perhaps because she knew she had the support of her coach and team behind her. By taking care of her mental health and by giving her the tools she needs to repair, her team becomes stronger.

We cannot neglect the importance of mental health recognition within our schools. By listening to what they need and adjusting our benefits program accordingly we can support our people and grow a stronger team. This is especially important heading into the post-pandemic workforce.

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Save Your People from the Complexity of Medicare

July 26, 2021

Understanding Medicare is difficult for many staff members within your school board. In fact, for some employees reaching sixty five, the challenges that Medicare enrollment presents may cause them to avoid the program even when they qualify.

When employees avoid enrollment into Medicare, they could miss deadlines, choose the wrong plan or delay enrollment, which can cost teachers and staff considerably, due to penalties and late fees.

When considering the federal health care program, there are some unique aspects that teachers need to take into account such as additional investments, 403b plans, pension and social security, all of which can further complicate Medicare and the retirement process.

Proactive education.

Addressing these concerns with your employees should occur early and often. Resources, such as consultations with advisors, informational emails or workshops, should be available throughout the school board to help answer difficult questions that come when considering Medicare enrollment.

Part of the reason Medicare is so complicated is because it comes with multiple options. Some aspects of Medicare that employees need to consider are:

Part A – Hospital insurance, which covers in-hospital and patient care.
Part B – Medical insurance, which covers outpatient and medical care.
Part D – Prescription drug coverage, covers most self-administered prescription drugs.
Medicare – includes Part A, Part B and the option of adding Part D
Medicare Advantage – considered an “all in one” alternative to Medicare, and includes Part A, Part B and sometimes Part D as well as other benefits such as vision/dental etc.
There are also premiums, deductibles and copays to consider.

Many employees need and welcome the opportunity to to learn more about Medicare insurance, everything from options to eligibility as well as the relationship between their traditional health insurance plan and Medicare benefits. The more information and resources that are supplied, the better choices your people can make.

Discussing these choices with a professional who knows the answers to their specific questions can be beneficial. For example, some teachers pay into a Teacher Retirement System within their state, these teachers will need to know how Medicare enrollment affects this account.

Practical concern.

About 25% of people are unsure about what a traditional health plan covers and the fact that Medicare is even more complex, some teachers may find Medicare simply too difficult to navigate or may even avoid it entirely.

By educating staff and spreading awareness to the possibilities medicare offers, an employee could find medicare is in fact a better option for them, helping them to enroll into Medicare at the right time.

Understanding Medicare can be difficult for your employees, but by setting up consultations with an expert to talk about their individual health insurance needs, you can help employees who are considering Medicare enrollment make positive, smart decisions.

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Solving New Retirement Challenges with Your Benefits Plan

July 26, 2021

Teachers make up a large portion of the American workforce and with 18% of the teaching population over fifty five, many are approaching the age of retirement, an age that comes with a variety of emotions and concerns.

A large portion of those over fifty five may also have elderly parents to care for. The balancing act of teaching, preparing for retirement and caring for a loved one can carry a significant impact on work performance, causing stress and a disconnect from the workplace.

The emotional and financial stress caused by these significant life stages can affect not only the teachers, but students, support staff and the school board. Taking a proactive approach to manage the stress your teachers experience is essential.

By viewing your benefits plan as more than an insurance policy and using it to educate and protect your employees, you can work towards relieving stress to a large degree.

Benefits

Retirement is something that will occur for all teachers and staff within the school board, one of the rare circumstances in business that can be said with certainty. Everyone will eventually reach an age where they start to consider retiring and some may have the additional responsibility of caring for aging family members.

The importance of creating a stress free environment within your organization is essential, as there could be implications for students within the school board. Providing a benefits plan designed with your people in mind can alleviate the stress that comes with the transition to retirement, allowing teachers to focus on the classroom.

Supporting the aging population with a benefits plan designed for your people shows you care about them and promotes a positive work environment.

Education

Variables such as a 403b plan, social security, pensions and Medicare coverage make retirement for teachers a unique challenge. There are many decisions that need to be made and if you can help your staff navigate those choices, the entire school board can benefit.

By providing educational material, training and workshops to highlight the resources available for retirement preparation, you can not only help employees navigate retirement and long term care plans, but also ensure the plan is being fully utilized. After all, no one benefits from an unused plan, especially your people.

In addition to programs and material presented within the school, extending the opportunity for education and guidance about benefits plans to outside sources can be very helpful.

Experts

A gym teacher who coaches football players may need the advice, expertise and knowledge from outside specialists and educators. If students seem disconnected or unfocused, consultations with these professionals are usually set up and after speaking to the right advisor, students can return to the team and are able to better focus on the game.

The same metaphor can be applied to the inner workings of the school board. Teachers and staff who are worried about approaching retirement or distracted by caring for a loved one can experience more absenteeism and decreased productivity, which can affect the students and the school. Employees who receive guidance from professionals can empower them to make smart decisions and eliminate stress and distractions.

That’s where we come in. As experts in health insurance and with partners in benefit plans, we position ourselves as advisors that can offer professional guidance. We teach, train, and problem solve alongside your teachers, so you and your teachers can continue to focus on what matters most, our future citizens.

Culture

Providing guidance for your employees about their benefits plans, with a focus on the aging demographic, is a valuable strategy for your school. Bringing ease from the difficulties of navigating retirement and long term care options for loved ones can change the dynamic of your school board and create a culture that your employees value.

When you begin conversations about navigating health insurance, benefits, Medicare and retirement you begin to enhance employee experience by showing your people you truly want the best for them.

The decisions and choices your staff face can be confusing and overwhelming and with almost a quarter of your school board reaching the age of retirement, the importance of a well structured benefits plan to support them is essential.

Insights

Keeping you informed

Broker Relationships — Where is the Trust?

Do You Want What’s Best for Your Employees?

When Health Insurance Companies Merge

Leading Your Post-Pandemic Workforce

Save Your People from the Complexity of Medicare

Solving New Retirement Challenges with Your Benefits Plan

Time to let it shine

Strengthen your school while protecting its people

1 (317) 522-9966 Contact@CityonaHillHealth.com

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