Sponsored Contentby Zywave

Remember when the conclusion of open enrollment season wasmarked with a collective exhale and you were able to enjoy theholidays knowing the busy season was behind you? So much for that.PPACA reporting deadlines are right aroundthe corner (individual statements are due Feb. 1, and IRS returnsare due Feb. 29), and your clients need help meetingthem.

Employers are begging for help

Based on Zywave’s annual Broker Services Survey of more than1,000 employers, we found that 93 percent of employers say it’simportant that their broker is able to provide compliant plandocuments. What’s more, 33 percent of employers reported that theircurrent broker does not provide, or only partially provides, thesedocuments.

In conjunction, over the summer, my team conducted a brokermarket research survey and discovered that many of brokers’ largeclients had already contracted with vendors for e-filing. However,they were still seeking a solution for those employers (with fewerthan 250 employees) who are able to paper file.

Read: 3 FAQs about IRS PPACA reportingrequirements

Brokers know it’s time to assist

Another survey was sent out a few months ago asking how brokersviewed their role in PPACA reporting and what ways they would liketo support their clients on this topic. We received more than 600responses the very first day the survey was open. Here’s what theytold us:

• 77 percent of brokers said that clients ask them for helpcompleting Section 6055 and 6056 reporting
• 60 percent of brokers said their clients did notalready have asolution for Section 6055 and 6056 reporting

Taking action

Brokers need to win new business by differentiating themselves from thecompetition. By seeking out a PPACA service solution offering, theycan better retain their current books by being the trusted PPACAadvisor their clients have come to expect.

Here’s something else that brokers can keep in mind: We recentlydiscovered that 60 percent of brokers are considering using a PPACAreporting tool as a fee-for-service generator, at a rate of about$1-$2 per employee, per month (PEPM), or for an annual fee of$500-$5,000. Whether you decide to charge or not, I’d recommendassigning value to any tool you choose to make your clients moreaware of all that you provide to them. Offering this service andyour guidance will help build loyalty and create exit barriers forclients, and promoting your ability to meet employers’ demands is agreat way to prospect and win new business.