How Retail Agents Can Add Value During Employee Benefits Renewal Season

As October and November approach, employee benefits conversations often center on renewal increases, contribution strategies and plan design changes. But as Ashlyn Sanders, RPS Vice President, Consumer and Senior Markets, emphasizes, those discussions also present an opportunity for retail agents to demonstrate value in ways that extend well beyond negotiating rates.

By helping employers navigate Medicare transitions, educating employees about individual coverage options, introducing alternative funding, such as Individual Coverage Health Reimbursement Arrangements (ICHRAs) and providing access to specialized support resources, agents can strengthen client relationships while addressing often-overlooked needs.

"People understand the benefits of having a broker who can provide a holistic approach to protection," says Sanders. "Employee benefits solutions are an opportunity to talk about what your competitors may not be sharing."

Renewal Season Is About More Than the Renewal

Open enrollment and renewal discussions often focus on the group health plan itself. Yet employees and their families may face life events that require entirely different conversations.

Children aging out of their parents' plans at 26 may find themselves navigating the individual marketplace for the first time. Employees approaching 65 may be unsure whether to remain on their employer-sponsored coverage or transition to Medicare. Employers, meanwhile, are trying to manage costs while ensuring employees understand their options.

Agents who help clients address these transitions can transform a once-a-year renewal meeting into an ongoing advisory relationship.

Helping Dependents Navigate Individual Coverage

One often-overlooked opportunity involves employees' dependents who are aging out of employer-sponsored plans. For many young adults, turning 26 means losing the only health coverage they've ever known. Suddenly, they are expected to understand networks, premiums, deductibles, subsidies and enrollment periods.

"Typically, if a child has been on their parents' plan their whole life, they don't even know where to start," Sanders explains. "We'll do a one-on-one education with the dependents, take them through everything that it means to transition from a group plan into their own plan and then help them shop and get them enrolled in their own plan."

That guidance can be particularly valuable because many younger individuals qualify for subsidies that significantly reduce monthly premiums but may not realize the programs exist.

In addition, individuals transitioning off a group plan often qualify for a special enrollment period, allowing them to obtain coverage outside the traditional annual enrollment window. Helping employees understand the rules can prevent coverage gaps and unnecessary stress.

Medicare: A Growing Need for Employers

As more employees choose to work beyond traditional retirement age, Medicare education has become increasingly important.

"With the national retirement age increasing from 65 to 67, we're now in an environment where groups have a substantial number of employees who are eligible for Medicare," Sanders says.

Unfortunately, Medicare can be difficult to navigate. Missing enrollment deadlines can trigger lifetime penalties and the interaction between employer-sponsored coverage and Medicare varies by employer size.

For example, employees working for employers with fewer than 20 employees may discover Medicare is considered primary coverage once they become eligible.

"Many people don't realize that because they think, 'I work. I pay for my employer coverage. This will take care of me,'" says Sanders. "And that's not necessarily the case depending on the size of your group."

At the same time, Medicare isn't always the obvious choice. Employees with strong employer-sponsored benefits may be better off remaining on their group plan.

"We never remove someone from a group plan when the coverage is beneficial," Sanders notes. "Some people have great benefits. We'll tell them, 'You're perfect. Don't do a thing.'"

The key is education and individualized guidance.

Education Creates Opportunities to Add Value

We offer Medicare 101 seminars designed to help individuals understand eligibility requirements, enrollment timelines, penalties and coverage options before they need to make important decisions. For employers, these sessions demonstrate a commitment to employee well-being. For agents, this creates opportunities for meaningful conversations that extend beyond the annual renewal discussion.

Those conversations often reveal additional needs. Employees may be helping a family member, such as a parent or grandparent, navigating Medicare, or seeking guidance on a healthcare transition outside work. By extending trusted education and support beyond the workplace, agents can help individuals make informed healthcare decisions while strengthening client relationships.

Could ICHRAs Help Employers Manage Costs?

Escalating healthcare expenses are also prompting employers to reconsider traditional plan structures. One option generating increased interest is the ICHRA.

Introduced in 2020, ICHRAs allow employers to reimburse employees for individually purchased health insurance rather than sponsoring a traditional group health plan.

"Small groups are getting hit with 30% and 40% renewal increases every year, which isn't sustainable," Sanders explains. "ICHRAs allow us to offer employers another option."

Under this approach, employers establish a defined contribution amount, while employees shop for plans that best fit their needs and provider preferences. The model can be especially attractive for employers with geographically dispersed workforces, seasonal employees, or high turnover, as well as employees seeking greater flexibility and choice.

Specialized Support Behind the Scenes

Employee benefits conversations often involve highly personal decisions and extensive one-on-one education. Having dedicated support resources can make it easier for retail agents to deliver that experience consistently.

Our Contact Center team works directly with individuals to explain options, compare physicians and prescriptions, identify potential subsidies, assist with enrollment and answer questions throughout the process. It can serve as an extension of a broker's operation.

Becoming a Year-Round Resource

Renewal season will always involve discussions about rates and plan design. But agents who focus exclusively on the numbers may miss opportunities to create lasting value.

Helping a dependent secure individual coverage, guiding an employee through Medicare decisions, introducing alternative funding strategies, or educating families about healthcare options demonstrates a broader commitment to clients' well-being.

As Sanders points out, these services can help agents stand apart in a crowded marketplace.

"It's just something new to talk about that competitors may not be sharing," she says. "Or if they're having a stewardship meeting with an existing client and they want to continue to offer value, it's another way to do so."