The Patient Protection and Affordable Care Act didn't end the insurance industry in America, despite predictions to the contrary. But it did usher in a variety of changes that affect benefits professionals. No longer able to compete primarily on price, benefits market participants are working to add other kinds of value by becoming clients' go-to source for guidance on medical costs, supplemental coverage and everything in between.

No point in competing on price

It used to be that the services provided by David Contorno, CEO of Lake Norman Benefits, Inc. in Charlotte, North Carolina, included shopping around when it was time for a client to renew health coverage. No more. "That's one thing that we have changed dramatically," Contorno says. "We can't save money by shopping around. The insurance company isn't allowed to ask a lot of questions about the company, so if they come in too low, there will be a big cost bump the next year. Your rates are based on population health care use. You're going to pay what you should be paying."