With a slight adjustment to the Janet Jackson classic… “what has your broker done for you lately?” How might you rate your most recent benefits open enrollment on a scale of 1-10? What could be improved upon? There’s a laundry list of moving parts and details when it comes to open enrollment. At Rose Street Advisors, we feel that no individual part of the process should be deemed lesser in value than another. It’s the bigger picture and the conversations from the leadership team down to the employees and their families that really make an impact.
Many of the conversations we’re having include stories or instances in which employees and employers alike don’t feel as if they have an advocate within their partnership. The most common feedback we've heard over the past year from employers as to what they’re seeking includes employee education, strategic conversations – those which include managing/reducing costs, staying within compliance, overall HR assistance and technology options and guidance.
So, if we could slightly adjust the previous question; could you share what you love about your existing broker partnership? Would it surprise you if I shared that 62%, compared to 44% two years ago, plan to make changes in their health care broker relationships in the next 12–18 months? It’s true. So why is that?
Personally, client stories have always felt like they have the most substance. Below is just one example that was shared by a member of our employee benefits team regarding a client that recently began a partnership with Rose Street Advisors:
“One story that pulls at the heart strings includes a client’s employee who has a child with a disability. The child has had the diagnosis for a few years now. Upon diagnosis, the employee’s family took a proactive approach and reached out to their medical carrier to run down answers to their questions, assistance with coverage and ultimately inquire on somewhat of a roadmap of what to expect. Unfortunately, there was no response, no assistance. For months that turned into years, their family seemed to run into a brick wall when it came to getting answers on why claims were denied, why what seemed to be logical treatment for her child, was like fighting tooth and nail. Fast forward to this organization making a move to Rose Street Advisors. Within a month of a denied claim, our RSA team had connected with multiple team members of the client's medical carrier. A case manager reached out and the individual began to receive what they were looking for all along… answers. They finally felt like they had someone's ear that would be an advocate for their child and their situation.”
We received a note from this client soon after stating, “Have I mentioned lately how grateful I am to be with RSA?!?” We’re grateful that we have the opportunity to make an impact on organizations, employees and their families.
At Rose Street Advisors, we don't discriminate based on the size of your organization. We provide all of our clients with the same customer service, care, education and dedication It is our mission to be your advocate while providing your employees with the tools and resources to maximize their healthcare in the best way possible.
As you enter a new year, think about what you truly want to get out of your existing partnership(s). If you’re interested in hearing more about how Rose Street Advisors serves our clients, let’s have a conversation!