This sudden and dramatic shift has caused small business owners to interact with their insurers (and their brokers) in different ways and more frequently, often relying on trusted sources of information. looking for. The bottom line: Small business owners today have new insurance needs that are critically important.
Here, we’ve identified trends you should be aware of before meeting with a small group of clients to discuss their planning options for 2023.
1. Small business owners want quality insurance to protect their employees.
Most small business owners personal connections with their employees. Over the past few years, they have seen their employees struggle mentally, physically or financially amid the pandemic and inflation. They have seen loved ones and employees fall ill and require emergency hospitalization. As a result, they understand the importance of health insurance and want to ensure that their employees have the right coverage.
Additionally, many small business owners compete with larger, more financially stable companies, especially when it comes to hiring. Larger companies can usually offer stronger benefit packages to their employees, so small business owners feel pressure to offer health insurance that will keep their employees happy and attract top workers. increase.
A Small Group Broker is considered an extension of the owner’s team. As a trusted confidant, it is important to present a plan that is known to provide a superior health insurance experience and has a history of satisfying clients with their membership experience.
2. They want health insurance that offers flexibility and virtual care.
COVID-19 has created unique challenges for many small business owners, including a potential recession, labor shortages, rising inflation and material costs, and new policies and procedures to implement. Sudden and unexpected changes made employers acutely aware of the need for flexibility.
As such, there is a growing demand among business owners for convenience such as telemedicine services, virtual emergency care, and online prescription refills, for example.
Additionally, employees who work at small businesses expect to be able to manage their care at the click of a button and may express frustration when it is not available. That’s why many small business owners are now looking for health insurance with flexible digital features. They want their employees to be engaged, healthy, and above all, happy.
3. There is a growing need for online self-service capabilities.
Over the past few years, consumers have learned to complete almost any task online, from facilitating meetings to shopping to facilitating education. When it comes to insurance, they expect to be able to pay their premiums online, find digital information about their policies, and get 24/7 customer chat support.
It is very important for insurance companies to invest Online self-service capabilities Helps business owners manage policies and reduce costs. Digital tools should be easy to navigate, but human customer support should be available for more complex questions. With providers such as Cigna + Oscar, employees have access to their own Care His team, and small business owners have access to their own business guide His team, so members can manage their health insurance accounts. Get the full support you need.
Bottom Line: Many of today’s insurers are keeping an eye on new trends and staying agile in the market. This means that small business owners can more easily find insurance companies that can meet the needs of their company and their employees. Finding the right health insurance company is important and can have a big impact on the health of your business.
Cigna + Oscar coverage is guaranteed by Cigna Health and Life Insurance Company. CA: Benefits managed by Oscar Health Administrators. Other States: Benefits administered by Oscar Management Corporation. Pharmacy benefits provided by Express Scripts, Inc. Cigna + Oscar health insurance has exclusions and limitations. For more information on product availability and coverage, please refer to your plan documentation or contact your representative.
About Cigna + Oscar
Cigna + Oscar is designed for our small business clients. We combine the power of Cigna’s national and regional provider network with Oscar’s member-centric experience to provide small-group health insurance that understands the unique needs of small businesses and their employees. .