Summary
Assessing the potential impact on clients and then bridging the gap between 2010 and 2014 is a critical challenge for agents and brokers, says Rick DeBartolo, SVP and employee benefits department director at LaMair Mulock Condon Co in West Des Moines, IA. The agency partners with Milliman, a national employee benefits and actuarial firm, for benchmarking data and will soon use a model that the consulting company has developed to analyze the impact of health reform on individual employers. LaMair Mulock Condon has a long history in the region that is dominated by small to medium-sized employers. In the last two years, the agency's total revenues have increased by about 7% per year, but employee benefits revenues have increased about 25% a year, a testimony to the rising health plan premiums -- increasing faster than property/casualty insurance rates and premiums -- but also to the productivity of the employee benefits division, DeBartolo says.
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Extract
Building Benefits Towards 50% of Revenues
Health care reform dangles over employers and their employee benefits agents and brokers like a sword of Damocles. Everyone knows it will drop in 2014, but no one really knows exactly what changes it will bring to the group benefits process and the important relationship between employers and their trusted advisors.
Assessing the potential impact on clients and then bridging the gap between 2010 and 2014 is a critical challenge for agents and brokers, says Rick DeBartolo, senior vice president and ...See the full content of this document
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