The pandemic, a fraught election, and the civil unrest brought on by the killing of George Floyd have exposed the nation to the raw inequities underpinning U.S. systems. These inequities disallow people across gender, race, ethnicity, and income a fair opportunity to reach their health and wealth potential.
Promoting diversity, equity, and inclusion will be at the top of employer’s mind this year and for years to come. As benefits advisors, brokers have a unique opportunity to help employers advance the needed work of healing, reconciliation, and change. Through even simple health benefit design improvements, brokers can help employers begin to address both the health and wealth inequities that generate unacceptable disparities and make an immediate impact on people’s daily lives.
- Determine the difference between benefit equality and benefit equity, and the overwhelming need to pursue the latter;
- Review the disparate impact health plan design can have on historically marginalized populations; and,
- Provide key plan design and education strategies brokers can bring to employers to promote benefit equity and address health and wealth disparities in their employee population.