Broker Bulletin
Businessolver announcements, information & resources
February 2024
Businessolver Product Roadmap: Deliver More in ‘24 Recap
Get the key takeaways from our event below
Thank you to all who attended our Jan 25 Product Roadmap experience! Don’t worry if you missed the event or just want a refresher on this session, we’ve got you covered. Check out the recap below.
- Businessolver’s AE survey received over 250K responses: in terms of overall enrollment experience, 84% of respondents rated their overall enrollment experience with us as “Excellent” or “Good”
- 2023 set us up for more product enhancements based on our introduction of artificial intelligence call transcription & case summarization, enhanced Sofia search capabilities, personalized & dynamic IVR, and more
- During the session, we also walked through product updates on the horizon for Sofia, our decision support tool, and the MyChoice Mobile App to assist your clients in personalizing the member experience this year
For more information on the other product updates we spoke about during the session and to access the full recording, fill out the quick form to the right, and we’ll be in touch.
Submit your info here and we'll send the session recording
Register Now for Our March 6 Webinar
Don’t miss out on discovering HR’s new engagement equation on our upcoming webinar
Eighty-four percent of employees are confused about their benefits. But when personalization is in play, 80% say they feel confident in their benefits decisions despite their confusion. The data is clear: Personalization + Empathetic AI + Humans = Happier, More Engaged Employees.
Join us on March 6 for a live discussion featuring Judi Craigo, Director of Payroll and System Automation at Waste Pro, an industry and environmental leader in the waste and recycling industry, and Heidi Heniff, Benefits Director at Athletico, a leading provider of outpatient therapy services across the country. The panel will dive into topics like:
- How personalization and the human element are critical to your clients’ benefits engagement
- How AI helps connect employees with the right benefits at the right time
- How your clients can leverage AI and personalization in their benefits strategy
MyChoice Accounts: New HSA Investment Experience for Your Clients
Check out our latest product enhancement available in Q1
Exciting news! Our cutting-edge MyChoice Accounts administration just rolled out a new HSA Investment Experience. Now, your clients’ members can conveniently access a curated list of top-tier electronic funds transfers (ETFs) to maximize their HSA growth, directly on our platform. With our new self-directed track live now, members can enjoy the flexibility to choose their own ETFs, while still being able to manage all their benefits dollars in one place. Stay tuned for more information on our managed track for personalized investment guidance, and brokerage track for complete investment freedom that your clients will love—available to all HSA members in Q1.
Make sure to take our short survey
It will take less than 5 minutes and you will receive some Businessolver swag for participating!
AI’s Impact on HR: The Evolution of Executor to Strategist
Catch up with Businessolver’s President & CEO, Jon Shanahan in his latest Fortune article about AI
Artificial intelligence has been making waves in the benefits industry for the last couple years, and rightfully so! In a recent survey, 76% of HR leaders agreed that not adopting AI solutions into their benefits strategies in the next 12 to 24 months would leave them at a competitive disadvantage. Are you positioning your clients for success with AI?
Read our latest Fortune article where our President and CEO, Jon Shanahan talks about how AI is shaping the evolving roles of HR professionals and how you can keep your clients ahead of the curve by embracing AI in their benefits strategies this year and beyond.
What’s New in Compliance?
IRS releases Publication 15-b for 2024
The IRS has released the 2024 Employer’s Guide to Fringe Benefits. This annual guide highlights the annual limits and requirements of various fringe benefits, including HSAs, adoption assistance, transportation assistance and many more. Don’t forget to share with your clients!
Department of Labor proposes rescission of 2018 association health plan rules
The Department of Labor has issued a proposed rule that would rescind the 2018 rule that established an alternative set of criteria from those set forth in the Department's pre-rule guidance for determining when a group or association of employers is acting “indirectly in the interest of an employer” for the purpose of establishing an association health plan (AHP) as a multiple employer group health plan. While impact of this potential rescission is expected to be limited – employers with Association Health Plans should review to ensure this proposed rule, if finalized, will have no impact.
Reminder: ACA electronic filing threshold is now at 10 employees
The IRS has lowered the threshold for requiring electronic filing of ACA information returns. After January 1, 2024, employers submitting 10 or more (down from 250 in previous years) are required to file electronically. Employers should determine if they are impacted and plan accordingly.
HR Compliance Update for 2024
Compliance updates are most likely not your clients’ favorite topic, but they are one of their most important responsibilities. Get the inside details from our Head of Compliance, Bruce Gillis, on all the significant changes happening in 2024 to set your clients up for success now and for the rest of the year.
A Peek at Our Pinnacle Partners
Offering innovative,
data-driven solutions
MultiPlan (formerly Benefits Science Technologies) is a technology company built on the principle that Data is Power. As a channel partner, one of your top priorities is to ensure your clients’ companies are wisely investing in their health plan not only at the holistic level, but down to member decisions. Your clients’ need not look further because Businessolver’s partnership with MultiPlan is the solution. This is done by a suite of tools that empowers risk-holders to manage and design health plans in a more intelligent, automated, and transparent way. Together, Businessolver and MultiPlan can do more for you and your clients. This enables health plans to allow members to access the right benefits at the right time, leading to the right care at the right value. That translates into cost savings, improved health outcomes and consumer trust and loyalty.
Meeting customers where they are with the right mix of benefits
With 90 million customers in over 60 countries, MetLife is among the largest global providers of insurance, annuities, and employee benefit programs. MetLife offers your clients’ employees the right mix of benefits that help them reduce financial risk and improve wellness. All while providing quality, flexibility, and innovation. Our partnership provides easy, one-stop access to MetLife’s full suite of product offerings including ancillary products: Dental, Vision, Disability, Life, AD&D, and a wide range of voluntary plans including MetLife Legal Plans, Accident, Hospital Indemnity, Critical Illness, Pet Insurance, and now Identity & Fraud Protection.
Resources and Upcoming Events
Why the Benefits Pulse Vodcast Needs to Be on Your “Follow” List
Looking for another way to stay up-to-date on wellness, the future of work, HR technology, AI, empathy, compliance, and more? Check out our recent blog on Businessolver’s brand new video podcast (vodcast) the Benefits Pulse. Give it a listen!
Sign up to Attend Vision 2024
Vision 2024 is only two months away! If you haven't secured your spot for Businessolver's biggest virtual event of the year, don't wait to mark this incredible occasion on your calendar for April 4-5. This year, we're diving into the theme of "Unlocking More in '24," featuring industry leaders, visionaries, and experts who will ignite your inspiration, boost your confidence, and equip you with unstoppable strategies for success. Start building your agenda today!