Employee Benefits Can be Your Business’s 2023 Advantage | Acrisure Viewpoints

February 20, 2023
Employee Benefits - Viewpoints
The year 2022 saw the largest increase in inflation in 40 years. Healthcare inflation rose 9-12% in 2022, spiking insurance rate inflation between 15-20%. These increases may not be sustainable for businesses who are already feeling the pressure of inflation in other areas.

Acrisure can help you navigate employee benefit plans within the healthcare system. Here are a few tips to help increase employee satisfaction and save costs with your employee benefits offering this year.

Get Clear on Compliance

Acrisure is well-versed in the latest compliance requirements for employee benefit plans and how they may translate to your organization. There were several important legislative initiatives enacted by Congress in 2022 that impact employers, providers and brokers, including:

Each year, our Employee Benefits team hosts a virtual summit addressing the modern compliance landscape facing employers. This year's HR Leaders Compliance Summit (HRLCS 2023) will be held March 7-9. At HRLCS 2023, keynote speakers and subject matter experts will share their specialized expertise and valuable knowledge in the areas of labor and employment regulation updates, employee benefits trends and human capital management best practices.

Reserve your spot at HRLCS 2023 today, and contact an Acrisure Partner for a complimentary registration code!

Employee Choice Can Help You Save

There are often a lot of "cooks in the kitchen" when it comes to employee benefits, from insurance companies to multiple layers of distribution parties and beyond. Removing some of these layers can help lower premiums, enhance benefit offerings and put money back into businesses' pockets.

Acrisure's Employee Choice Program helps dramatically simplify the administration and claims experience for supplemental voluntary benefits such as critical illness, accident, and hospital indemnity coverage. If there is a claims surplus, organizations can recoup 75% of that surplus, compared to traditional worksite benefit offerings that sends that surplus to the insurance carriers.

"Acrisure's Employee Benefits offering is the first to develop and distribute a collection of dividend-eligible products in this category, which truly puts our clients in a position to win. That's what we live to do," said Shawn Ferguson, Director of Product Development and Voluntary Benefits at Acrisure.

Viewpoint for 2023: Make Benefits Your Advantage

Complex compliance requirements and rising costs can make saving on your employee benefits program feel impossible. However, it doesn't have to be that way, and you don't have to go through the process alone.

Acrisure's Employee Benefits team uses data to create a robust outlook in conjunction with market trends, healthcare expenditures and benchmarking to tell you where you are, where you're headed and what you can do differently.

"To identify, quantify, prioritize and manage risk, we first must have access to data," explained Logan Barry, Director of Healthcare Strategy at Acrisure Partner GDP Advisors. "With that data, we can more effectively manage the healthcare supply chain for that organization, which helps yield a better experience for the employee and a better financial result for the organization."

Impacting and improving healthcare is a process, not a product. It's the way in which Acrisure serves our clients by addressing their specific needs and risks as an organization.

Connect with us today to get a jumpstart into 2023.


The products or services identified herein may not be available in all jurisdictions. The information and descriptions contained herein (a) are not necessarily intended to be complete descriptions of all applicable terms, conditions, and exclusions of the policies referenced, (b) are provided solely for general informational purposes, and (c) should not be viewed as a substitute for legal, regulatory, or other advice on any particular issue or for any particular reason. The advice of a professional should always be obtained before purchasing any insurance product or service, and you should not rely on the information provided herein for the prevention or mitigation of risks or as a full and complete explanation of coverage under any insurance policy. While the information contained herein has been compiled from sources believed to be reliable, no warranty, guarantee, or representation, either expressed or implied, is made as to the correctness or sufficiency of any representation contained herein.

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