Broker Bulletin
Businessolver announcements, information & resources
August 2024
Equip Your Clients with the Power of Data
Ensure timely access into the critical benefits information they need for better decision-making
Ready to empower your clients with unparalleled insights into their benefits engagement data? Give your clients the ability to access real-time analytics, comprehensive reporting, and strategic recommendations to help meet their benefits goals with our brand-new Benefits Insights Dashboards arriving this fall within Benefitsolver. We are excited to announce the following dashboards will be available to assist your clients:
- Service Center Performance and Trends - This is much more than your typical call center metrics, using proprietary AI, this dashboard unlocks 100% of interactions and displays the trends and opportunities for delivering the best possible service.
- Campaign Analytics - Communications Efficacy - Your clients become marketers with more in-depth data into their engagement strategies that show them what communications are working and where there is opportunity for new ideas.
- Member Survey Findings - Dig deeper into your standard member surveys to better understand your client’s employees benefits literacy, benefit preferences and more, to gain understanding of what benefits strategies your employees need.
Interested in seeing the new dashboards for yourself? Check out the quick video below to help meet your clients’ needs more efficiently.
Looking “Fore” Some Unforgettable Fun?
Register for Businessolver’s Welcome Reception at HR Tech 2024!
We’re not just changing the game but driving more of what your clients need at HR Tech! If you’re heading to HR Tech this year, swing by our booth #7909 to tee up an exciting conversation with the Businessolver team, grab a refreshing drink, and challenge yourself in our exhilarating hole-in-one contest for the chance to win amazing prizes at HR Tech on Sept. 24-26 in Las Vegas. Our VP of Channel Partnerships, Monica Hinchey, will also be onsite for the conference, so if you’re interested in meeting up prior to or during the conference, be sure to reach out to her beforehand.
Don't miss out on registering for our spectacular Welcome Reception at S Bar on Sept. 24 from 7:15-9:15 p.m. where we’ll keep the par-tee going after the pub crawl. Enjoy tantalizing light bites, our signature drinks, and a night full of great times, and networking with your peers. This event is reservation-only, so be sure to sign up early to secure your spot. We can't wait to see you there!
Sip into Summer: Win a Refreshing Pineapple Margarita Kit
Fill out our broker survey this month to be entered into the giveaway
Summer is here, and what better way to beat the heat and bid farewell to the season than with Teremana’s irresistible signature pineapple margarita kit? Businessolver is thrilled to announce an exciting giveaway where you can win one of two refreshing summer margarita kits—just by completing our broker survey in August! Imagine sipping on a delicious pineapple margarita, a perfect blend of summer flavors, as you bask in the sun. Winners will be selected from participants who fill out the survey in August and will receive their kits at the beginning of September. Don’t miss your chance to win this ultimate summer treat! Click the link below, fill out our survey, and get ready to celebrate summer in style. For winners that prefer a non-alcoholic kit, we will also have a gourmet snack kit available too.
Hot Off the Press: Businessolver in the News
Help your clients put empathy into action by reading part two of our Empathy Study
Our latest State of Workplace Empathy study delivers crucial insights for channel partners aiming to enhance their clients' satisfaction and assist them in improving their bottom lines. The research highlights a significant 50-point gap between the empathetic actions employees desire and what they're experiencing, underscoring the importance of empathy in talent attraction and retention. Brokers can play a key role in integrating empathy into their clients' strategies by ensuring essential benefits, such as mental health resources, are both visible and accessible. Explore the second part of our 2024 State of Workplace Empathy Study along with the accompanying press release for a comprehensive guide on embedding empathy into every aspect of your clients’ benefits offerings.
What’s New in Compliance?
IRS issues FAQ Fact Sheet about Education Assistance Programs
The IRS issued a fact sheet to answer frequently asked questions (FAQs) related to educational assistance programs under section 127 of the Internal Revenue Code. The IRS designed this guidance to help consumers, employers, and tax professionals understand these programs.
Clients with educational assistance plans, or those interested in them, should review this fact sheet to answer any outstanding questions.
The Dept. of Labor Publishes FMLA Training Deck
Many view The Family Medical Leave Act (FMLA) as confusing due to its broad applicability and interaction with other aspects of employee/employer relationships, such as COBRA. For any clients seeking help understanding FMLA, the DOL has issued a training resource to support FMLA awareness and education.
Upcoming Compliance Deadlines Your Clients Should Know
Summer is a time for rest and relaxation, but it’s also a time to knock out several important health and welfare benefit tasks before the end-of-year rush (including annual enrollment for calendar year-aligned plan years). Important items to review this summer include:
- The time to complete Non-Discrimination Testing for Dependent Care FSA is now. The earlier your clients test, the less likely a correction to any failed test will require retroactive payroll adjustments. Avoid the inconvenience and frustration of end-of-year adjustments and remind your clients to test now!
- Remind your clients to review and update their plan documents. Updating plan documents and having them in place by annual enrollment can save your clients money on employee communications and allow their members to have current information on hand when they enroll.
Resources and Upcoming Events
Should Employers Offer Financial Coaching to Employees - Benefits Pulse Vodcast
The current economic climate is affecting many individuals, leading to stress that spills over into the workplace. With 58% of employees stating that financial anxiety hampers their concentration, the demand for enhanced wellness initiatives is on the rise. Financial well-being is increasingly important in employees’ benefits wish lists. In this vodcast, Shelby Gartner, VP of Broker Partnerships at IdentityForce at TransUnion, discusses the challenges employees face even before entering the workforce and how brokers can help clients integrate effective financial wellness programs into their offerings.
Frequently Asked Questions During Annual Enrollment
Annual Enrollment inquiries represent a major segment of chat and call interactions during peak times. With insights from over 25 years of benefits data, we've identified that most questions revolve around enrollment, dependents, and consumer spending accounts. To support brokers and channel partners, we've compiled a list of frequently asked questions, enhancing client experiences during busy seasons. Check out our latest blog for effective communication strategies and insights to assist your clients during this critical period.
Sun, Sand, and Savings: 3 Tips for Helping Your Clients Make the Most of Their Healthcare Spending Dollars
Pre-tax healthcare dollars provide channel partners an opportunity to ease financial burdens for clients while supporting year-round wellness initiatives. Since FSA or HSA funds are typically loaded once a year, clients may risk unutilized savings as the year progresses. As we reach mid-year, it's important to remind your clients to use these funds for essential wellness items, ensuring their wellbeing and maximizing savings. Check out the blog below for three actionable tips to enhance engagement and success!
Interested in Joining a Regional Event with Businessolver and Peers?
Get in touch with us below!
Get ready for some entertainment as Businessolver's social events hit various cities! Our epic, laid-back get-togethers are popping up in the Bay Area and Philadelphia, and we want you to join us. Imagine vibrant venues, exciting activities, and mouth-watering food and drinks that will leave you craving more. Network with local clients, prospective clients, and fantastic channel partners in these no-PowerPoints allowed gatherings. Legendary connections and memorable moments await! Don't miss out—contact our VP of Channel Partnerships, Monica Hinchey, to secure your spot at our next must-attend event!