As health care costs rise and voluntary benefits become morepopular, competition among benefits advisors also continues torise. This makes differentiating services more important than everbefore, as clients want more and more options. One way to stay ahead of the competition is by offeringbenefits that include nontraditional, value-addedservices.

Value-added services are designed to offer employees additionalassistance beyond health care to further address pain points andmake employees’ lives easier. The types of services vary and canrange from the ability to reach a medical professional anywhere,anytime, to resources that help employees navigate the sometimesconfusing health care billing system. Below are three value-addedservices that advisors can introduce to clients to rise above thecompetition.

1. Fraud protection: According to the 2017 Javelin Identity Fraud Report, identity fraud reached newheights in 2016, with a 16 percent increase of fraud cases amongU.S. consumers. Identity theft can be an overwhelming and stressfulexperience for employees, potentially leading to increaseddistraction and less productivity. By offering clients fraudprotection, advisors can arm employees with proactive services thathelp monitor and protect personal information and provide qualitysupport if a fraudulent incident occurs.

2. Health advocacy and bill negotiationservices: The ever-changing health care system can beconfusing to navigate for employees at every level. To ensure theyreceive efficient, affordable care, advisors can offer healthadvocacy services to clients. This service can help guide employeesthrough complex topics and processes, as well as negotiate highmedical bills to help cut down on employees’ financial stress.

3. Online wellness program: Wellness programsare becoming more popular among workplaces in the U.S., and theseprograms can have incredible effects on employee health andemployers’ bottom lines. For example, a report from the U.S. Chamber of Commerce revealed that 60percent of employers reduced their organizations’ health care costsby implementing a wellness program. By offering services likean online wellness program, advisors can take the pressure offclients and provide employees with the support they need to achievehealth and wellness goals.

Creating more value

Advisors can connect benefits to something clients do care about— their company’s bottom line. Education on how offering voluntaryproducts with value-added services can positively assist withattracting talent, retaining employees and even increasingproductivity, is key. It’s also essential to emphasize theimportance of choosing the right benefits partner when expandingclients’ benefits portfolios. Some insurance companies canembed value-added services in their existing plans, making iteasier to increase the value of benefits at little to nocost.