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FSA Administrators, Clarity Benefit Solutions, Offers Tips for Developing a Strategic Benefits Plan to Win More Accounts

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FSA Administrators, Clarity Benefit Solutions, Offers Tips for Developing a Strategic Benefits Plan to Win More Accounts

PR Newswire

NEW YORK, July 24, 2018 /PRNewswire-iReach/ -- FSA administrators, Clarity Benefit Solutions, offers tips for developing a strategic benefits plan to win more accounts.

Chances are, a majority of employees are not well versed in the intricacies of their benefits plans. It is vital that brokers ensure that their client's employees thoroughly comprehend their benefits plan so that brokers can secure more accounts. It is highly likely that they will need assistance to help them understand exactly what options they have when it comes to choosing the proper benefits. Lack of awareness and education can result in a loss of accounts. Creating an effective strategic benefits plan will increase understanding and awareness—and additional accounts.

The challenge for brokers is that when it comes to benefits, there is no one-size-fits-all approach. Each client comes with their own unique requirements. It is up to brokers to formulate a targeted benefits plan and take the lead in managing their employees' benefits.

The first step in formulating a strategic benefits plan is to identify the client's benefits objectives as well as their budget. Doing so will guide the selection of the proper mix of mandatory and voluntary benefits. Factors such as employer size, location, and markets served should all be taken into consideration.

Next, a needs assessment should be performed. This will determine the best benefits selection based on employees' needs and desires. Included in this assessment should be the clients' insight of what their employees require when it comes to benefits, an analysis of competitors' benefits packages, and tax regulations. Personal interviews with the client's employees could facilitate higher employee satisfaction, resulting in more accounts.

Now, a strategic benefits plan can be formulated with all the research and data that has been gathered. Brokers should work with their clients to develop benefits packages. Prioritize both mandatory and voluntary benefits. At this point, the client can examine the budget to see what selection can be offered.

The benefits plans should then be presented to the employees. Present this information in several format, such as personal meeting, print, internet/intranet, webinars, and emails. This is a critical step in the process. A thorough understanding of benefits options will increase employee participation and lead to more business.

About Clarity Benefit Solutions: Clarity Benefit Solutions FSA company provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.

Media Contact: Calvin Clark, Clarity Benefit Solutions, 732-428-8272, cclark@claritybenefitsolutions.com

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SOURCE Clarity Benefit Solutions

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