Do you remember reading this column’s headline in this magazinejust over two years ago? I do. Credit the headline toDenis Storey’s interview of Tracy Dieterich in the March 2009issue. It’s available on the BenefitsPro.com in case youmissed it.

It’s a classic. For years I have kept a “think about…” list, andmany times it has helped think through to winning solutions Thismonth, we’ll consider the opportunity to think about the future ofthe benefits business. There are no answers here, but plenty tothink about. Those of you with the best answers will have acompetitive edge.

1) Working seniors. It seems prettyclear that many people will continue working past age 65, and thebenefit world is not very friendly to that age group (life and longterm disability plans reduce benefits, have higher premiums, orboth; medical plans shunt them into Medicare and Supplementsthereto; AD&D and critical illness plans might terminate orreduce in value; prices for nearly every benefit plan are higher;and so on). Employers are likely to be seeking voluntaryproduct packages that respond to the needs of this expandingmarket, and will need innovative advice on design of benefits.

2) Generational and diverse employeegroups. In addition to the baby boom generation movinginto working senior status, there is plenty going on with all theother “Gens.” Gen-X members are in their prime buying years.Gen Y is forecast to be the dominant economic engine for theeconomy over the coming years. The Millennial generation ispushing us all. Meanwhile, one of the big messages emergingfrom the 2010 census is the growing diversity of our nation. Theneeds, interests and benefit buying patterns of these employeesubgroups differ. The way they communicate is different.

Employers will want advice on the best ways to communicate anddesign benefits that will appeal to each group. Connectivitywith these employees and the enrollment techniques that support thebenefits is a major area of planning for change. One of thesedays this column will cover “new ways to manage smart phoneenrollment.” Most of the planning today for enrollmentsuccess is access planning – deciding how to best gain access toemployees. In the future, this might be described as interestplanning – deciding how to best get employees interested inbenefit-related messages.

3) Legislation and regulation. Healthcare reform is a great example of legislation changing the core ofthe benefits business – and it’s not the only example. We canexpect government at every level to continue to create laws, rulesand regulations that affect us. And like health care reform, theeffects of these rule changes will have ramifications for years tocome.

4) The economy and “competing with the price ofgas.”* The economy has by no means recovered fromthe great recession. Uncertain employment growth, uncertain wagelevels and shifts in the power of various sectors seem tocontinue. Meanwhile, the price of corn, a major staple, isincreasing. And the price of gas, which has been lower than it wasin 2008 during most of the recession, is edging back toward recordlevels for the United States.

The core reason for thinking about the drivers of change in ourbusiness is clear. We can either decide to ignore them, andrisk obsolescence, or we can join in saying “all I see isopportunity.”

* January 2008 Benefits Selling column.

Marty Traynor is vice president of voluntary benefits at Mutualof Omaha. He can be reached at [email protected].