Benefits Selling expo speaker

Make sure to attend Frank Mengert's Administration Tracksession, “Evaluating Benefits Administration and Private Exchangesfor Mid-Market Clients,” April 20 at 9:30 a.m.

We are all too familiar with that line. It's been resurrectedtime and time again. Oddly enough, I've used it myself, but put adifferent spin on it: If it doesn't fit, force it. Seems like aridiculous idea, right? Often, I speak with brokers and consultantswho have jumped on the bandwagon of a specific technology and tried to force theirclients into adopting that technology, whether it was a fit ornot.

If you think about the typical book of business for groupmarkets, it is segmented into three areas: 2-99, 100-1,000, and1,000+. Many brokers out there don't even have 1,000+ clients, soit might be 2-50, 51-99, and 100-1,000.

So how do you take a restaurant group, a law firm, a staffingagency, and a municipality and put them all onto the sametechnology platform? Starting to seem more ridiculous now, right?All these groups have different needs and diverseworkforces. You can't make the client fit thetechnology — the technology has to fit the client. Now, I'm notsaying you have to go out there and evaluate every system on themarket so you have an arsenal at your disposal. What you should bedoing, however, is evaluating several solutions, identifying howthey differ, and determining where they might fit your particularbook of business and prospects.

As a technology aggregator, we have evaluated so many differentsolutions on the market and sat through countless demos. Every timeI turn around, there seems to be a new system. As a benefitsconsultant, you learn to dig deep into the weeds and evaluatecarriers, networks, products, and all the nuances that come withthe complexity of the industry. So why would you not do the samewith the technology you are going to recommend to your valuableclients, the clients that trust in you for sound advice?

Right now, many of you are thinking, “I barely made it out of Q42015 learning PPACA, and now you want me to become a technologyexpert?” This is where partnering comes into play. Just like youmay have a strategic partnership with an HR consulting firm or aCPA for PPACA-related questions, you can have a partner fortechnology questions. Continue doing what you know best —delivering solid benefit advice — andalign yourself with someone who can assist you with thecomplexities of benefits administration.

With so much to consider, it is vital that the technology yourclient works with aligns with their specific needs and runsparallel with the plan you have in place as their advisor. Knowingwhen recommendation technology will play a role or whether definedcontribution may come into play are important things to consider.How involved are you as the broker with this technology? Can yousupport it in-house? What happens if the person supporting yourtechnology finds a job somewhere else? How does that impact you?Can you send data to carriers electronically? Do you need topopulate carrier applications or provide signatures? Can the systemhandle your client's PPACA tracking needs? Will it also eFile andfulfill forms to the employees?

This is just a small sample of questions you should beconsidering. These are things many brokers often don't think aboutuntil they have signed a contract and are stuck with a technologythey have to pay for. So then what do you do? You try to make theglove fit — and no one wants to be forced into anything. So whyforce your clients?

If you want to learn the answers to all the questions above andmore, make sure you attend the 2016 Benefits Selling Expo and catchmy session on “Evaluating Benefits Administration and PrivateExchanges for Mid-Market Clients.”