In January and February, Oliver Wyman and Benefits Selling set out to understand how brokers thought about reform and how they planned to respond to it. More than 1,250 brokers responded to this year's survey, spanning the country and representing all employer size segments as well as the individual market.
In addition, we interviewed a cross-section of brokers to get a sense of the thinking that lay behind the survey answers. What we found is that while brokers saw reform as a huge disrupter, they haven't quite made up their minds about what will happen next or what to do about it. Nonetheless, there are increasing signs of innovation in the marketplace, as some brokers rapidly develop their business models to drive real results right now.
While a greater proportion of brokers in the Southeast are considering reducing their service offerings, brokers in the Weset appear poised to expand their offerings with the onset of reform.
Almost two-thirds of brokers anticipated at least some degree of consolidation as a result of reform, and more than one-fourth saw it as a strong trend.
The post-reform view of compensation is fairly diverse. More Midwest brokers expect to earn their revenues directly from their customers, whereas brokers from tjhe Southeast and West see carriers and exchanges as the source of future communications.
Small-group brokers saw reform as the death knell for wellness among their clients, while large-group brokers believe that they will play an increasing role. Interestingly, after the Massechusetts senatorial election, there was an uptick in brokers expecting to play a greater roll in wellness.
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