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Hiring Benefit Advisors
as Your Employee Benefits
Broker
Saving money
on employee benefits is imperative in today’s economy. The cost of
providing benefits is rising significantly, while employees
consistently seek more and more from their benefits packages. Many
employers struggle to balance employee needs with their own
capabilities and bottom lines. Helping you meet these divergent
needs is our specialty.
For over 25
years, Benefit Advisors has been providing insurance and employee
benefits consulting services to the business community. Built upon
a tradition of integrity, industry leadership, and excellence, we
are committed to delivering tailored benefit solutions with
thoughtful strategic planning, valuable professional services, and
technology-based solutions.
With that in
mind, we understand that retaining a broker to advise you about
your insurance and benefits programs is an important process. You
need to understand exactly how the broker-client-carrier
relationship works, and why choosing Benefit Advisors as your broker
is right for your organization.
What should
you expect from your group health insurance broker?
Obtaining
competitive quotes for coverage and handling claims problems is
only a small part of what you should expect from your insurance
and employee benefits advisors. Benefit Advisors goes farther,
providing quality service throughout the year, including custom
employee communication materials, human resources tools, claims
data analysis services, and much more. We use these tools to help
you meet your benefits objectives, and will raise the bar for what
you expect from your insurance broker.
How can you
officially retain Benefit Advisors services?
There is no
“typical” contract used to retain an insurance broker on your
behalf. Benefit Advisors is an independent closed agency that works with a
wide range of carriers in order to provide the best products for
your insurance and employee benefits programs. Providing your
current carriers with a simple letter that names Benefit Advisors as
your “Broker of Record” will allow us to do an in-depth market
analysis. By naming us as Broker of Record, Benefit Advisors can get
quotes from more markets, better leverage our relationships with
carriers, and enjoy a better negotiating position with carriers by
truly serving as your representative. We can provide a sample
Broker of Record letter at your convenience.
How is
Benefit Advisors compensated for our services?
The resources that Benefit Advisors has invested in and provides to
you are supported by commission paid to us by our clients’
carriers. Typically, clients select carriers at renewal, and pay a
premium to these carriers each month. With those premium dollars
in-hand, the carrier provides coverage to our clients and pays
their claims, as well as pays commission to Benefit Advisors.
Because brokers typically receive commission dollars on a monthly
basis, your plan renewal dates do not affect your ability to
retain broker services. You can easily change your broker at any
time during your plan year. Is your current broker well
compensated, but providing little more than an annual visit at
renewal? Consider the added value that Benefit Advisors' services
bring to the table.
Are your
employees getting the best value for their money?
Your
employees are paying for a portion of your benefit plans, and
consequently are paying a portion of our fees. You’ll want to
ensure that you are providing the best value and service for your
company and its employees by working with a quality organization.
Our clear and professional enrollment materials, wellness
communication materials, and other resources can help keep your
employees satisfied, healthy, and safe.
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