As Baby-Boomers transition out of the workforce and Millennials take their place, they will need help to understand health insurance benefits offered as part of their benefits package. What can you, as their employer, do to help?
Millennials comprise the largest generation in the American workforce. After living through the COVID-19 pandemic, more and more millennials are beginning to see the importance of having health insurance and how it can impact their lives for the better. But the world of group health insurance is a complex, sometimes tedious exercise, and many millennials don’t want to take the time out of their busy schedules to understand health insurance options offered by their employers.
Help To Understand Health Insurance Benefits Provided By Employers
There are many benefits to being covered under an employer-sponsored healthcare plan. Employees can access several great perks such as dental, vision, prescriptions, hospital visits, and more.
One of the first keys to understanding health insurance is that it is not one-size-fits-all. Employer-sponsored group health insurance policies will vary from company to company and even from industry to industry. The easiest way for Arizona employers and their valued employees to understand their options is to work with an independent group health insurance broker. How can these professionals help your workforce to understand health insurance benefits?
Related: Which is Better? A Group Health Insurance Agent or Broker?
Brokers Find Policies That Best Suit Your Company, Employees and Industry
Because independent health insurance brokers are not tied to any one insurance company, they are better equipped to find the policies that best fit employer budgets and employee needs.
To do their job, brokers must get to know your business first. For instance:
- What is the average age of your employees? Millennials have different health care needs and concerns than Gen Xers, and Gen Z will also have its own set of criteria.
- Do your employees have families? This will determine the type of dependent health care options available.
- Are there health concerns that are specific to your industry? Office workers on their computers all day may need a vision plan or chiropractic benefits. In contrast, employees in the construction industry may have a completely different set of priorities.
These are just a few factors brokers keep in mind while selecting the most relevant group health insurance policies for your company.
Related: Five Things to Consider When Choosing a Health Plan at Work
To Help Millennial Employees Understand Health Insurance, You Have To Understand It Yourself
Once brokers find the appropriate options for your business and employees, they will meet with the business owner or human resources manager to ensure they understand the health insurance options. Why is this important?
For many Millenials, the first stop for questions on their employer-sponsored health insurance benefits is the owner or human resources department. Employees look to these to understand health insurance, whether this is one person or an entire group of people. Often they become the liaison between the employee and the broker or insurance company.
If you are in this valuable role, how can you learn about the benefits you offer employees? Again, you turn to your independent group health insurance broker. These seasoned professionals know the ins and outs of group health insurance like the back of their hands and are happy to help you understand the health insurance benefits available under your plan.
Brokers Are There For You And Your Employees
If you are a business owner or human resources manager with a long to-do list, hiring a broker to help you select and understand health insurance is one of the smartest decisions you can make. A broker’s job is not over when you sign on the dotted line for your policy.
After you have made your selection, the broker’s attention shifts to administrative aspects to ensure you and your employees are getting the most use from their benefits. They may start by holding informative meetings with your employees during the open enrollment period, answering questions from individual employees regarding plans available to them, and finally, assisting you with the final enrollment and paperwork.
And when your Millennial workforce approaches you with a myriad of questions throughout the year, you can easily refer them to the broker, who is always there to help them understand health insurance benefits.
Imagine having that perfect assistant that anticipates your needs (before you even know what they are), handles all the logistics, and frees your time up for other essential tasks. Independent group health insurance brokers are that assistant.
Help To Understand Health Insurance Is Just A Phone Call Away
At Anderson Insurance Services, our independent health insurance brokers have been helping Arizona business owners and employees understand group health insurance plans since 1981. Put our over 40 years of experience to work for you today.
Schedule your free consultation with our experienced health insurance brokers today.