I just returned from the 2017 BenefitsPRO Broker Expo inIndianapolis. In light of the recent health care reform debacle, I expected toget the pulse of the fast-changing employee benefits business andthe brokers that are on the front lines working with customers. Iwas NOT disappointed.

Following are my top 10 takeaways from the conference.

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1. Focus on your customer

I got to see the Broker of the Year panel. Congratulationsto Susan Combs! A few of her thoughts:

Advice: “If I wouldn’t want you as a friend on Facebook, I don’twant you as a client.”

Biggest Challenge: The media and all the bad news out there. Allthe “house on fires” that people are posting on social media.Managing client panic attacks.

Dealing with change: Be an educator for your clients.

Here’s a thought that all five finalists agreed with: Customersdon’t care what you know - they want to know that you care.

2. The Iron Triangle is the challenge

The first keynote speaker was health care expert, Aaron Carroll,Director of the Center for Health Policy at Indiana UniversitySchool of Medicine. He shared the concept of health care as an Iron Triangle withthree components: Cost, Quality and Access. It’s possible to have 1or 2 components at the same time, but not all 3. He noted, “Ifanyone promises they can improve all three, they are either lying,a politician or both.”

3. Access to care in the U.S. is not good

Almost half of all Americans are unable to get a same dayappointment when sick. The U.S. is second to last when compared toother countries who are members of the OECD (Organization forEconomic Cooperation and Development) - just above Canada. It wouldbe wise for brokers to offer solutions to their employercustomers to address this problem.

4. Look out for more reporting requirements

5500 reporting is about to get much more complex. 900 pages ofproposed changes were approved in 2016, should be finalized in2017, and go live in 2019. All groups with 2+ employees will besubject to the reporting requirement versus the current 100+. Itappears that all compensation for all groups will be transparentwhen these changes go into effect.

5. Resisting change is biological, notemotional

BrittAndreatta, an internationally recognized thought leader inleadership and learning, suggests that we are all biologically hard-wired to resist change. “Thebrain is wired to do three things: survive, belong and become.”It’s a good reminder to our industry that it takes time foremployees to adapt to changes. As the advisor, brokers need tounderstand this and lead employers and employees through thechanges. Eventually, the brain will adapt.

6. Health care costs are going up

This one isn’t much of a surprise. 91 percent of employees areexperiencing an increase in health care costs. 25 percent ofemployees have no savings to absorb the increase. 51 percent ofemployers are experiencing an increase in costs. Unfortunately,there is no end in sight. Strategic brokers areimplementing solutions that truly help their group andemployee clients.

7. Health care consumerism meets digital

Did you know that the average American unlocks their smart phone150 times a day? It’s safe to say that consumers are comfortablewith smart technologies. Employee surveys show that 62 percentwould use cost estimation tools, and 71 percent would manage theirhealth care by using mobile tools when given the opportunity.Mobile health is the third fastest growing app category— there are now 165,000 health care apps available and 50percent of consumers have at least 1 health app on theirphones. Be sure you’re partnering with suppliers who offer servicesand technology that helps your clients navigate the complexity ofhealth care.

8. Employees don’t understand basic health careterminology

Carnegie Mellon conducted a study which found that only 14 percent ofAmerican consumers understand deductibles, copays, coinsurance andout of pockets. While industry insiders know hundreds of insuranceterms, we must remember that our audience doesn’t. It’s easy togloss over these words during client discussions or open enrollmentmeetings because we’re so familiar. It’s a complicated industry andsystem — this is a good reminder that we need to simplifysimplify simplify constantly.

9. Prescription costs are skyrocketing with no end insight

Reid Rasmussen, freshbenies CEO and Co-founder, noted thatRX will be 40 percent of health care costs by2025. That’s up from 20 percent today. I think we allknow that carriers and employers won’t be able to foot that bill,so what will happen? Drugs will start to fall off formularies at aneven faster rate than we’re seeing today. Be on the lookoutfor savings solutions that help.

10. Employees want to understand their benefits better

The “Rule of 7” says that an audience needs to hear a message atleast 7 times before it “clicks” in their mind. Therefore,a benefit communication strategy is paramount. 90% ofemployees say they want to better understand their benefits and 44percent want it to be simple. Yet, 25% of employees would ratherclean their toilet than learn about benefits! What's the bottomline? (Sorry, I had to...) Employees want to know about theirbenefits and how to use them, they just don't want it to bepainful. An active approach is best and a year round strategyshould be implemented.

All in all, it was a great conference with some outstandingspeakers and presenters. I’m already looking forward to 2018!

Now, it’s your turn! Were you at BenefitsPRO Broker Expo thisyear? What did you learn? What life lessons or ideas have yougleaned at conferences in the past? Comment below or email meat [email protected].