Agents: The Impending Health Insurance Issue

The real estate industry is in the midst of an important economic shift, one that will influence other businesses and professionals. These events, which go far beyond the financial factors in one region versus another, involve the way individual companies - both within the commercial and residential arena - handle the country's impending health insurance crisis. That challenge, one that the federal government may further complicate, requires an affordable and effective solution for brokers and agents throughout the United States. Addressing this issue should be a high priority for some of the country's most recognizable brands, including franchisors and franchisees that represent properties in a diverse array of markets.

Resolving this matter starts with the use of private exchanges, which help companies develop a personalized plan that satisfies the requirements of employers and their respective employees. These exchanges combine technology and expert advocacy, all in an effort to enable businesses to avoid the costly (and ineffective) one-size-fits-all approach of the current system. For real estate businesses, which often have multiple offices and a large number of brokers, agents and support staff, traditional forms of health insurance - including the proposals contained in the Patient Protection and Affordable Care Act (ACA) - are too expensive or impractical. In that environment, real estate executives have a false choice between foregoing coverage for their workers or adopting a top-down alternative that is neither easy to implement nor efficient.

Realtors can lead the way in this debate because they have a chance to be a source of innovation and success, establishing a precedent for other industries to follow. (Our expertise in this arena, starting with our analysis involving defined contribution health plans and private exchanges, is a key advantage for brokers and agents because - and this is yet another example of the importance of combining value and insight - we understand the needs of this dynamic industry. For realtors are mobile and entrepreneurial, meaning they need a health insurance plan that is flexible and cost effective -- one that complements their interests and long-term goals. The same rule applies to real estate companies, many of which are national chains, where there must be a way to enjoy genuine savings without compromising quality or worker incentives.)

The subsequent advantages align to everyone's benefit, allowing realtors to devote more resources for the day-to-day responsibilities of research, client service and dedicated representation. In other words, health insurance reform - the kind of lasting, positive change that private exchanges offer - empowers the public at large. That means buyers and sellers ? as wells individuals, families and businesses - can receive the renewed attention and care of real estate brokers and agents. Think of this situation as a win-win scenario, where realtors get an excellent health insurance plan and companies have a chance to attract a talented team of professionals.

In this regard, private exchanges are the ultimate recruitment tool: they deliver demonstrable rewards, reduce costs and make the real estate industry a forum for enhanced productivity. And, since millions of Americans have some connection to the sale or purchase of property, we all have a stake in the outcome of this issue. With the right counsel, backed by experts who have the knowledge to oversee this process, REALTORS? can be at the forefront of impressive reform. That journey begins now, for the good of everyone and the strength of the nation as a whole.

Published: April 16, 2013

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Source: http://realtytimes.com/rtpages/20130416_healthinsurance.htm

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