How to use the 1095-C to grow your business
Use the 1095-C as an opportunity
On our recent webinar “How to use the 1095-C to grow your business,” we discussed how brokers are using the 1095-C as a means to expand their business. By leveraging compliance knowledge with 1095-C reporting, brokers are uniquely positioned to use the 1095-C as an opportunity to expand their book of business. Here’s how to do it:
Provide a solution
As I’m sure you are aware, many employers are struggling to get their 1095-C reporting completed. So much so, that the IRS has extended the reporting deadline for employers. This is going to be a strong driver for employers to go online or find a new solution for future years.
By providing a benefits administration platform with 1095-C reporting to your clients, you’re adding to your value proposition and securing your position as a trusted adviser to your clients. Experts say that 50% of employers will have HR and benefits online in the next few years, which means 50% of your book of business will be online too.
Not only will you be providing a solution for your current clients, but you can also use the 1095-C to gain clients. We are still hearing nightmares about payroll providers sending massive spreadsheets with multiple tabs as 1095-C reporting. Employers are scrambling and don’t know what to do with the data. This is where you can save the day. With the deadline extended, you can swoop in with a solution - a benefits administration software.
Brokers using BerniePortal are bringing on groups because of their ability to handle the 1095-C. In fact, employers are being so proactive around the compliance issue that they are moving off renewal.
Recognizing that this is the first time the country has ever had to do this, employers will be appreciative of your ability to step into the role to help them do this. Now their decision on who the best benefits adviser is revolves less around plan design and more around reporting and compliance.
Lastly, by providing a solution you are making yourself very hard to replace. You will have gained the employer's trust and are providing them a service that not all brokers would. Remember, it’s not too late to provide this for your clients and prospects.
Interested in learning about BerniePortal's 1095-C/1094-C options?
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