Today’s benefits advisors are well aware that one-size-fits-all benefits packages are no longer attractive to employers. Increasingly, customization and flexibility in benefits plans are a necessity. Not only that, but employers want to see a return on investment in their benefits offerings, especially as the cost of traditional benefits plans continues to increase significantly year over year. At the same time, employees demand personalization and are increasingly seeking non-traditional health benefits like family planning and behavioral health services. Research has shown that health benefits packages are a key factor influencing employee retention, so employers are incentivized to meet the demands of their workforce while keeping the costs of their benefits programs as efficient as possible. Yet doing so has been a tremendous challenge.

In recent years, brokers have turned to self-funded plans (typically administered by a third party, or TPA) as a popular alternative to fully-insured plans that can offer more value by being fully customized to an employer’s workforce. 

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