Benefits Brokers’ Perspectives: Achieving the Broker Breakthrough

Report Summary

Benefits Brokers’ Perspectives: Achieving the Broker Breakthrough

Brokers remain a tough group to crack.

Alijah Poindexter

April 27, 2023 – Benefits brokers maintain a key position within the benefits ecosystem, balancing various relationships and resources to develop benefits packages tailored to their clients’ needs. This makes them an enticing option for third-party benefit administrators (TPAs) looking to broaden exposure and develop new customers. However, challenges related to plan adoption, product differentiation, and more can arise for TPAs looking to cut through the haze and partner with benefits brokers.

This Impact Report provides guidance for TPAs and technology platforms regarding their top-of-mind questions about benefit brokers. It is based on Q1 and Q2 2022 conversations with health benefit brokers, financial advisors, registered investment advisors, and broker-dealers.

Clients of Aite-Novarica Group’s Healthcare Payments service can download this report.

This report mentions ADP, AXA, Balance Point, Bank of America/Merrill Lynch, Charles Schwab, Charles Taylor, Empower, Fidelity, HCSC, Maestro Health, Matrix Companies, Optum, and Trustmark.

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