Webinar Recap: Breaking Down the Findings From the ‘Employer Feedback on Broker Fee Disclosures and New Transparency’ White Paper

The No Surprises Act­–groundbreaking legislation within the health insurance industry–took effect on December 27, 2021. In the short time since the Act’s passage, brokers across the nations have been forced to pivot significantly and with little guidance from the powers that be.

Through the No Surprises Act, new protections now require brokers to disclose fees and compensation earned to clients. In light of these historic changes, Mployer Advisor sought to better understand how brokers communicated these reforms with employers and, simultaneously, to gauge employers’ reaction to the new mandates.

During the webinar, Mployer Advisor Founder and CEO Brian Freeman explained the survey’s methodology and highlighted a few key data points that underscore the need for improved communication and transparency between employee benefits brokers and employers.  

Among the findings, for instance, the Mployer Advisor survey disclosed that 36% of employers have yet to receive any communication from their employee benefits broker regarding these new legislative mandates.What’s more, survey respondents were asked “Did your employee benefits broker talk to you about it, or offer to review the new disclosures with you?” About 64% of respondents said “yes” while 36% said “no.” Although these numbers positively reflect how quickly some brokers were able to reach out to clients and offer guidance, the results reveal that there is still a clear opportunity for brokers to better serve one-third of employers. Eager to learn more? Click here to watch the free, on-demand webinar “Breaking Down the Findings From the Employer Feedback on Broker Fee Disclosures and New Transparency” White Paper.

To download the “Employer Feedback on Broker Fee Disclosures and New Transparency” white paper, click here.Looking for more exclusive content?Check out the latest industry trends and news on the Mployer Advisor blog.