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Need Help w/ Benefits Broker

hr92175hr92175 65 Posts
in Benefits & Leave Vote Up0Vote Down
Our company is looking into a new benefits broker for the next fiscal year, but I don't exactly have a strong background in benefits. I'm meeting with a potential broker but next week, but other than services offered and price, I'm not sure what else to ask. How do you if one is better than the other?
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  • NaeNae55NaeNae55 3,243 Posts
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    Ask for references.
    Check their license and ask if there have been any complaints.
    Check with other local HR people to see if they know this broker.

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  • WildsportyWildsporty 283 Posts
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    What I did is have 5 different brokers come in and give a presentation. I than narrowed it down to 3 . I asked for references. I than called the references given for all three. I went over the material presented and the fees charged by all 3 brokers. I than asked the top two to come back and do a second presentation for myself, the CEO and the CFO.

    I asked about training, fees, references. I also asked for a portfolio of the different insurance companies they were representing and their networks. I checked their networks to see who had the most providers and I asked their references how long the turn around time was for payment of claims.

    I asked about their websites and went in and checked them out. I also asked about forms and materials provided.

    we are very comfortable with the agency we chose. We did the same with the 401k providers.

    Shirley


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