The Patient Protection and Affordable Care Act didn't end theinsurance industry in America, despite predictions to the contrary.But it did usher in a variety of changes that affect benefitsprofessionals. No longer able to compete primarily on price,benefits market participants are working to add other kinds ofvalue by becoming clients' go-to source for guidance on medicalcosts, supplemental coverage and everything in between.

No point in competing on price

It used to be that the services provided by David Contorno, CEOof Lake Norman Benefits, Inc. in Charlottesville, North Carolina,included shopping around when it was time for a client to renewhealth coverage. No more. “That's one thing that we have changeddramatically,” Contorno says. “We can't save money by shoppingaround. The insurance company isn't allowed to ask a lot ofquestions about the company, so if they come in too low, there willbe a big cost bump the next year. Your rates are based onpopulation health care use. You're going to pay what you should bepaying.”