Senior Providers Blog

How to get the most from your benefits broker

Posted by Senior Providers Network on Mar 6, 2018 10:00:00 AM

Benefits BrokersBenefits brokers, sometimes referred to as advisors or consultants, can be valuable resources who save your organization lots of time and energy when choosing benefits packages for employees. But in order to enjoy a positive experience with your benefits broker, you should approach the relationship in a professional, transparent manner that keeps your goals at the forefront.

Start by choosing the right broker

If you don’t begin this business relationship on the right foot by selecting a broker or firm that aligns with your company’s needs, it will be very difficult to maximize the ROI received from your broker. If your organization is choosing a broker for the first time or picking a new one, make sure to research them to ensure their expertise and knowledge aligns with your requirements. For example, think about whether they have matched benefits packages to companies with employee populations similar to yours.

Also consider your company size, the specific benefits requirements of your team, any legal or compliance standards that apply to your business benefits, and other concerns that will impact the employer packages you offer. Picking the right one is arguably the most important step in a successful relationship with your benefits broker, so be sure not to rush through the selection process.

Communicate frequently  

Open communication is the foundation for any good relationship, including the one you have with your employee benefits advisor. While you probably won’t need to speak to them every day or even every week, it doesn’t hurt to keep a running tally of questions or concerns that you can periodically send to your benefits broker.

Remember to observe how responsive your broker is and whether or not they are able to provide prompt, effective solutions for the challenges you present to them. Good communication is a sign that your broker is engaged and invested in their relationship with you. It can be a good idea to schedule a regular check-in call with your broker - perhaps once a quarter - so they can talk to you about changes to your policies or new benefits options.

Ask for support for your employees

While mired in the data, numbers, and policy decisions, it’s easy to forget that employee benefits packages are made for people. It doesn’t matter how cost-effective your benefits package is from a business perspective: If it doesn’t have a positive impact by providing the advice and assistance your team members need, it won’t be an effective policy.

To that end, it’s important to request as much help as possible for employees from your benefits broker. From training modules to showcases to technical support, your broker (or their organization) should have professional resources available to assist your employees directly.

If you’re looking for valuable, actionable advice on your employee benefits plan, you have to find a resource you can trust. The team at Senior Providers Network is happy to offer assistance that will help you select an employee benefit plan with elder care benefits that work for your business and its employees - just schedule a call with us today.

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Topics: Benefits Broker