What Do We do Differently from the Average Broker?

survey – research – innovate – negotiate – communicate – service

Rather than simply trying to find similar plans with lower costs, we first find out what your employees use and need.  Then we design plans that employees find valuable, research the marketplace till we find the carriers that have the right solutions. Once we find the plans we negotiate the pricing, communicate the program to the employees and assist them with their personal needs.  Having this information prevents overspending on benefits that aren’t utilized. Our work includes:

Independent consultation: We work for you not the insurance carrier. Our recommendations will be based on your requirements, your industry’s standards and any unique needs we uncover

Plan design analysis: There are so many plans available today, it is difficult to know if you are taking advantage of the best strategies for your organization. Beginning with a review of the plans in place, we compare them with other deisgns to see what is the best fit for you

Recommendations to reduce costs: Often a plan that was once priced competitively will become expensive to maintain when new benefit options become available. Sometimes, simply tweaking an existing plan can result in substantial savings. 

Market research: We will research carriers, third party administrators and other vendors that can provide the programs you need. The competitiveness of each carrier’s health insurance contract changes each year. Plans that were competitive in price one year, often become less competitive over time. Going to the marketplace every year is a necessity to determine if the cost of benefits is over or under priced. The objective of this portion of our work is twofold:  (1) comparing the cost of the current benefit plan to comparable plans offered by other carriers, and (2) pricing plans with alternative designs.  Benefits of all competitive carriers will be compared and the costs associated with the plans will be analyzed.

Insurance placement: After making our recommendations we will handle all aspects of the placement process – employee communications, enrollment and underwriting

Renewal negotiation: Every year premiums go up. What most carriers don’t tell you is that their increases (if you have over 50 employees) are often padded because they expect your agent to negotiate on your behalf.  We not only do this but also show them that other carriers are competing for your business forcing your rates to be kept in line with the market place. 90 days prior to your renewal date, we will send out your census information to the insurance industry for bids. During your renewal meetings, we will discuss various alternatives to keep the costs in-line with your expectations

Legislative Updates: Through our membership in the National Association of Health Underwriters we are very involved with the people responsible for drafting legislation. When changes occur that can effect our clients, we are usually the first to let them know

The Bottom Line: We work closely with you to identify the role of benefits within your company, the services your employees use and value, and then develop a strategy that can help you reach both short and long-term objectives. Our services begin with an employee survey and a comprehensive review of your current programs to identify potential areas for cost savings and compare them with other plans offered in similar industries. At the completion of our evaluation, we design a program incorporating strategies such as flexible benefits levels, pre-tax vehicles and managed care to provide a format that fits your goals and objectives.