Among those surveyed, over half (56 percent) of the brokers perceive that ACA has helped their sales, with nearly one-quarter of them saying the impact has been “very positive.” This is in comparison to only about one-third of the carriers, according to Eastbridge’s Voluntary Benefits in an ACA World: How are Carriers and Brokers Adapting? Spotlight™ Report. The objective of the report is to help carriers better understand how the changes and adaptations being made with respect to ACA compare to how other carriers and brokers are responding.
The study also found that brokers and carriers are both seeing relatively low usage of private exchanges for voluntary. Over half of the brokers surveyed said they suggest a private exchange to employers less than 25 percent of the time, and most of the carriers estimated that only about 20-35 percent of their business currently goes through a private exchange. However, both brokers and carriers expect growth in the use of private exchanges within the next several years.
Both parties also agree that the broker’s role will change because of ACA. Carriers see brokers becoming more strategic and consultative when working with employers, and brokers are expecting lower commissions in exchange for using a more consultative role. They also see more of their services become fee-based.
The cost of the report is $2,000. To purchase, call
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.