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Dental – a benefit for brokers?

15 March, 2011

Matt Reeves, Denplan Corporate Channel Manager, looks at how dental benefits are changing and what brokers need to know to keep up to date.

I certainly think there will be an even larger growth in the flexible benefits arena, particularly with SMEs, as well as an increase in ready-made packages or ‘Flex in a Box’ designs, which many brokers are already developing.  This is good news for the dental market on the whole, as dental is still the most popular flexible benefit and fits into this environment really easily. 

Showing how much a business spends on benefits is easy to calculate, but showing their worth is something quite different. That’s why I also believe that there will be a marked increase in the focus on communicating and reinforcing the value of benefit packages, especially with ROI being such a key factor for so many companies.

Companies are likely to turn to brokers to offer guidance and add value in this area – making it of paramount importance that they can quantify and understand the value of the benefit package they recommend.  Offering your clients some way of monitoring value based on considerations such as retention, recruitment and perceived value is, therefore, extremely worthwhile.

The good news is that, for dental plans, the information you need is already out there. For example, 77% of employees believe that good dental health supports overall wellbeing and 59% of employees would consider taking out a dental plan if their company offered it* – for more details see the ‘Bitesize Research’ section.

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