Advisers need to scrap autopilot mode when it comes to open enrollment

This time of year, most benefit advisers are on autopilot. An article published by Verywell Mind offered some interesting insight when it suggested that "the ability to act without really thinking happens when a behavior becomes over-learned."

Between project plans, service calendars and checklists, the renewal season for advisers is all about maximizing efficiency. As a business owner and entrepreneur, this is an essential part of growing a successful business. However, it's important to remember what our business truly means on a human level. 

You've probably noticed the world is a different place than it used to be. These past few years were unlike any other time. We're moving out of COVID, are in the middle of the Great Resignation and entering an economic recession. Most employees already live paycheck to paycheck — and now with the added stress of gas prices as high as $6-plus in some places and a gallon of milk at $5, employees are having to make decisions between accessing care and paying for essential goods for their families.

Facts from author Marshall Allen state that 35% of employees admit they don't understand their health insurance benefits. Most employees would want employers to provide more education and support regarding health benefits. Too often, employers don't equip their employees with the info necessary to be better consumers. 

Read more: Excellence in advising: Lester Morales puts people before profits

From the employers' perspective, only 19%  believe their employees understand their health insurance benefits. Educating employees would help them make better decisions about their medical care, reducing their costs and the plan's spend. 

This is where you come in.

Employees have a lot on their plates, and every $1 counts. Employees will cut 39-cent-off coupons for lima beans and most employees have out-of-pocket maxes from $4,000 to $10,000-plus, sometimes 20% of their take-home pay, but don't have $400 in the bank. 

So here's my question: Are you doing everything you can to help them be better healthcare consumers?   

This is simply not sustainable. It means that the health plan design you help employers construct is super important. Same goes for making sure employees understand and correlate the differences between their healthcare decisions and what comes out of their pocket. Employers need to understand this correlation and that the value can be life changing.

If you are an adviser on autopilot, then stop it. Simply shopping the renewal to the same cast of characters, none of whom have a vested interest to save anyone money, and passing on more cost to employees to lower cost is simply unacceptable. It's also downright inconsiderate and lacking in empathy. As someone whose family had to file bankruptcy because of medical expenses (which I detailed in my previous commentary), I know what it's like to be on the receiving end of madness. 

Read more: How data can bring clarity to health plan management

Advisers need to lead the change and expand the minds of their clients. Employers need to understand that there is a cost of inaction (COI). It might be having to replace employees who no longer feel value in the benefits, which can range from 50% to 400% of their annual salary. But this COI can simply be fear employees have in not being able to afford to use their health plan and that stress seriously impacts their productivity. 

Healthcare is expensive for both employers and employees. Employers can provide better benefits for a lesser cost, but they need to do something different. You can help them with this change. 

Like everything in their lives, employees shop for their cellphone, car and mortgage. They need to become better healthcare consumers and being more engaged is absolutely the mantra, even if that is a little uncomfortable and different. This comes with:

• Structure. The design of their health plan is critical. Bottom line: if employees are not being incentivized to seek high quality care, then you are missing the boat at open enrollment. 
• Partners. Service providers need to have aligned interests and a business model that is focused on their members, not shareholders.
• Communication. The message, mode and consistency of communication and education is critical and needs to help employees be smart consumers. 

When employers communicate and implement better healthcare programs, educate people on better quality healthcare and promote a more effortless experience through advocacy, it demonstrates they care. This means better recruitment and retention of the best employees. 
Better plan structure and better education or communication impacts lives in terms of both finances (i.e., 67% of bankruptcies are because of healthcare expenses) and quality of care (since doctors and facilities have different quality scores, would you want your mom or daughter going to a terrible doctor?).

Read more: Most bankruptcies are caused by medical debt. As benefit advisers, we can change financial outcomes

Employees becoming better consumers of healthcare is the only way we will impact the cost crisis faced by both employers and their employees. Add the fact that employees mostly live paycheck to paycheck amid the economic challenges we are facing and changing the status quo becomes mission critical. 

The question becomes: is your mission aligned with your client's mission. Do you really care about people? That might seem harsh or dramatic, but numbers don't lie. People can't afford their coverage and the marketplace is not going to fix it. 

So, as you enter into full renewal season mode, check the autopilot at the door and remember that every recommendation you make impacts people. That is both the challenge and the opportunity. The question is, are you up for the challenge?