The number of brokers considering a human resource information system (HRIS) PPACA compliance tool is staggering. It’s the number one topic of conversation at every industry function I attend. I just spoke at a carrier’s top producer event and when I told a group of attendees that we have not only fully embraced a tool for this, but make it a mandatory piece of doing business with us, some jaws dropped.

Certainly, the number of options has proliferated in the last couple of years. Please excuse me for being blunt, but if you are considering an HRIS now, you are way too late! If you don't already have a single system you work with and the people in house to manage and build that system, you are way behind. Many brokers I talk to think that picking and paying for a system is a big decision and a big investment. Well in my experience, that's the easy and far less expensive part. By far, the bigger piece is having the in house experts needed to build the tools for each client, educate each client, and get the employers and employees dependent on it for their day-to-day benefits-related concerns (and that little thing called IRS codes 6055 and 6056). In my agency, our in house lead, Joan, can get me from employer decisions to open enrollment ready in under four hours!

In my humble opinion, this tool is not something you use for your biggest and/or best clients. After all, there is a huge learning curve for most of us on this technology and that curve is only elongated if you use the system sparingly. Instead, if you embrace it fully, wrap your arms around it and give it a big hug, it becomes more valuable to you and your clients in a far quicker fashion.

If you are already an expert in a particular system and have in house resources to build it and use it, you are light years ahead of your competition. And if you do this, doesn't it put you on par with the Silicon Valley startups as of late on the technology front while blowing them away on the solutions side? Some industry gossip puts that startup retention around 60 percent!

And a little advice, if I may, on which system to go with:

1) Make sure there is no PEPM charge.

2) Make sure it is not tied to a particular carrier.

3) Make sure the employee interface is beautiful.

4) Make sure it can handle all clients, large and small.

5) Hopefully I don’t need to say this, but make sure it had very capable PPACA capabilities.

6) Most importantly, make sure you get behind a system that you have 100 percent confidence in, that will stay ahead of the rapid changes, and that will always be dedicated to brokers.

Instant Insights /

Considering a PPACA HRIS tool for clients? You may be too late

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