Finding the Right Employee Benefits Broker

Partnering with the right employee benefits broker can be an arduous task, but an important one.  Finding a trusted business advisor to handle the benefit needs of a company and its employees can be a time consuming proposition.   With the cost  of employee benefits constantly on the rise, it leads to a huge line item cost on a company’s balance sheet. 

Here are a few thoughts to consider when selecting the right broker/consultant to meet the goals and objectives of your company:

• Do they offer strategic thinking and solutions?
• Do they challenge the thinking of the decision makers?  And think outside the box with their benefit solutions?
• Do they annually market benefit plans?
• Do they have a relentless commitment to service?
• Do they provide pro-active communication that goes beyond the annual renewal?
• Do they hold employee communication meetings that give detailed information on the company’s benefit offerings?
• Do they have Preferred Broker status among the insurance providers?
• Do they have a high retention rate for current in-force business?
• Do they provide access to newsletters or communication pieces?
• Do they follow legislative updates, including health care reform, and pass the information to your company?

All brokers offer products, but finding one which offers the dedication and commitment necessary to provide your company with the appropriate benefit solution does not have to be that difficult if you follow the checklist above.