The flurry of activity surrounding fall enrollments and the accompanying benefits for January 1 has died down, and it's time to step back for a moment and consider issues to address this year. How will your organization address these 16 issues for 2016?

The Patient Protection and Affordable Care Act is a gift that will not stop giving, and this year will be no exception. A cottage industry has sprung up surrounding compliance and reporting requirements. Are your clients in good shape there? Additionally, the Cadillac tax is beginning to loom large as even the most cost-controlled employer plans project to be into tax territory within 10 years.
Non-retiring boomers are staying in the workforce beyond their “normal” retirement age due to various factors. But the benefits we provide have diminishing value after 65, and need to be made more relevant.
Retiring boomers represent the opposite end of their generation. When they leave, they take lots of experience with them. Your employer customers may want your help in designing meaningful benefits that will incentivize some to stay in the workforce.
Building voluntary expertise is an issue for brokers whose focus has been on medical benefits. As emphasis on voluntary grows, so grows the need to build or partner to gain expertise.
Too much of a good thing? Since voluntary benefits are growing more essential, some employers and their advisors have decided that a broad array of voluntary options should be rolled out in a single campaign. Keep in mind the problem of choice overload. Employees may actually be happier with fewer benefit choices in a single enrollment augmented by additional choices at a later time.
How can nontraditional voluntary services add value for us? A diverse employee population demands a diversity of voluntary options, not all traditional. Remember, a smart phone is more important to many millennials than a car.
Using social media in the benefits business has, up until now, been a minor item in the benefit world. That will change. We need to become more proficient in building employee awareness of the value of our benefit offerings using social media.
Why do employees too often “dis” disability protection? Many of us believe that disability protection is the most valuable benefit and yet many employees overlook purchasing disability income protection in favor of products with a much lower potential value. How can we make a better business case for this essential product?
Acquiring customers through collaboration is a challenge for those of us who have been self-reliant for years. Today's complicated market often forces brokers to collaborate.
How will the election affect our business? 'Nuff said on this by the talking head news folks. Discuss among yourselves.
Technology for benefit administration and enrollment continues to grow in prominence, while the much vaunted exchanges seem to be languishing. Benefit administration systems have grown to be an essential part of an employer's PPACA compliance strategy, and benefit advisors must become knowledgeable enough to be able to assist employers in selecting the best system for their needs.
The economy continues to offer challenges and uncertainty to both employer and employee customers. This affects the benefits an employer offers, and how they are funded.
Insurer consolidation gives the major players more market scale, which may reduce employer and broker bargaining power.
Disruptive distribution has been lurking for years as a potential challenge for our business as large retailers, online marketers and non-traditional distributors see opportunity in our market.
Broker consolidation may be on the table for many advisors. Meanwhile, your competitors may be purchased, giving them the resources of a much larger firm. And if you are an acquirer, how do you choose the right targets for consolidation—and how do you preserve and build on their value after a merger?
Global warming OK, really, that's for other people to ponder—aren't the first 15 issues enough to keep us busy this year?

Instant Insights /

16 issues for Sweet &lsquo;16

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16 issues for Sweet ‘16