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The ACA Y2K Phenomenon

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The-ACA-Y2K-PhenomenonAre you possibly being duped into buying your insurance through your payroll provider? Is the ACA something to worry about? Are you over-reacting about something that is easily solvable? If you’re happy with your broker, don’t let weekly calls and strong-arm scare tactics bully you into doing something you don’t need to do.

Like the tech industry did with Y2K, companies are using ACA compliance as a means to get their clients to buy into extra services and additional protection options. Plus, clients are being encouraged to streamline their vendor pool and solve many needs with a one-stop shop.

How You Can Have ACA Peace Of Mind

You don’t have to settle to get integration. Don’t feel compelled to move your insurance to your payroll provider to have ACA peace of mind. Your payroll provider is a professional integrator. For years, payroll providers, like Balance Point ourselves, have been the connector between clients and partners of 401k, general ledger, insurance, workers comp, etc.

This is just one of many points of connection to be made. Let the professional, experienced insurance brokers give you the proper information regarding your options. In some instances, there are promises being made in areas that are not even finalized yet.

Don’t let your vendors prey on your fear!

Why Does Fear-Based Selling Work?

Fear of deadlines: You might be vulnerable and susceptible to anything that is sold as a way to help you get something done when time is of the essence.

Fear of missing out: When others are jumping on the bandwagon, or if something is seen as exclusive, you get the idea that you need to do the same or else you will not have the same advantages.

Fear of the future: You are told that if you do something wrong now, you might wind up in a bad position in the future.(e.g. if you don’t buy a safe car, an accident can be life-threatening) Or alternatively, you must do something now in order to avoid a bad future position. (e.g. start saving for retirement to avoid being broke, wear sunscreen to avoid skin cancer, etc)

Why It’s Important To Have A Variety Of Vendors

Another important factor to consider – you don’t want your business to be in a situation where it is faced with a Single Point of Failure. There is potential for this to happen when put all your eggs in one basket by choosing a single company to handle everything like worker’s compensation insurance, health insurance, general ledger, ACA compliance, 401k, payroll, flexible spending accounts, health savings accounts, COBRA….{PHEW…should I go on?}

For example, if your payroll company handles your health insurance and 401k too, and something causes you to sever ties with the company, then you have to replace all three services at the same exact time. It is important for you to be able to drop and insert vendors as needed. Plus, having variety in your vendors ensures you are acquiring the best-in-breed for each. It’s rare that one company can excel in every area. You want each service to provide you the experience of an upscale restaurant not a diluted diner. The importance of each vendor’s individual necessity and relationship to your business is non-negotiable.

Don’t look at this as a ‘better-safe-than-sorry’ situation. Look at it as a ‘you-are-already-safe-so-don’t-fix-what-isn’t-broken’ situation.

Are You Looking For ACA Piece Of Mind Without The Bullying?

If you’re looking for a solution to help integrate all of your vendors, then give us a call. We’d love to hear about any issues your having and work hard towards a solution that’s right for you.

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