| You've met with three or four insurance brokers, and | | | | Your employees should be able to call your broker's |
| all have given you spreadsheets presenting proposals | | | | office with claims problems and benefit questions, |
| from a number of insurance carriers vying for your | | | | and talk to someone who is knowledgeable and will |
| company's business. Most of these spreadsheets, | | | | not leave them hanging. Your broker's office should |
| from all the brokers you met with, show basically the | | | | be a dependable resource to you and your |
| same selection of programs. | | | | employees. |
| You go through each plan to understand it as best | | | | The broker will talk to the insurance company. |
| you can. You even run it by some other employees | | | | Your broker should do most or all of the |
| to get their input. Finally, you make a decision, call the | | | | communicating with the insurance company for all |
| broker to give him the good news, and away you go. | | | | claims and billing issues. Again, you and your |
| The broker? Well, since all the brokers showed | | | | employees are NOT insurance experts. Your broker's |
| basically the same plans, you call the broker that also | | | | office should be. |
| sold you the property and casualty insurance to your | | | | The broker will become a trusted advisor. |
| firm. | | | | A good broker will become an extension of the |
| What have you forgotten? | | | | human resources efforts of your company. His office |
| It's a problem. | | | | will, by keeping your benefits program efficient and |
| Your new group medical insurance plan has been in | | | | well-serviced, help you hire and keep the best |
| force for some time now. Employees come to you | | | | employees. Even more than your accountant and |
| at least several times a week with claims problems, | | | | attorney, he and his support staff will become |
| benefit questions and complaints. | | | | trusted advisors. |
| Your job is NOT to be an insurance expert, so you | | | | How can you choose a good broker? |
| call the broker that sold you the plan, looking for help. | | | | Make sure that your broker is a specialist in |
| When he calls you back a couple of days after you | | | | employee benefits. This will not be the broker that |
| left him a voice mail, he says he will check into your | | | | handles your property insurance or personal financial |
| various questions and get back with you. | | | | planning. |
| The broker calls you back a week later, with some | | | | Ask for a list of at least 15 of his local business |
| garbled answers that really don't address the issues. | | | | clients that have used his firm for at least five years, |
| You end up having your assistant call the insurance | | | | and call these referrals asking what type of job the |
| company's toll-free number, where she gets passed | | | | broker's office has done for them. If the broker |
| around to three different extensions, still not getting | | | | balks at this, or only can give you a few referrals, |
| answers. | | | | move on. |
| The forgotten factor | | | | Make sure the broker has a knowledgeable and |
| Go back to the beginning. You spent a lot of time | | | | experienced staff. The broker is only one person, |
| trying to choose the right group insurance plan. But | | | | and he will often be out of the office. You should ask |
| you really didn't put much consideration into which | | | | to talk to the person in the broker's office who will |
| broker to write the program with. Broker selection | | | | be handling the day-to-day servicing of your plan. |
| was the forgotten factor. | | | | Talk to that person on the telephone and make sure |
| Choosing a good broker is at least as important as | | | | he or she seems competent and will be comfortable |
| which plan of insurance you select. | | | | to work with. |
| What should an employee benefits broker provide to | | | | The broker is often the forgotten factor. And don't |
| you? | | | | you forget it. |
| The broker will talk to your employees. | | | | |