We get calls constantly from business owners that are frustrated with the high cost of Business Health Insurance and Employee Benefits. Because Business Health Insurance is so complicated and confusing, HR Directors and CFOs rely on their broker to help them. Most times the brokers are clueless too. Unless someone specializes in Employee Benefits or Business Health Insurance, their info is many times either outdated or flat out wrong. There are only so many hours in the day…you can’t be an expert at everything.
Having an Employee Benefits Broker that specializes is like gold
When you rely on your broker for the correct info, they had better be right. Just as an example, if a broker miscalculates the business health insurance and they enroll a group of 20 employees, there could be waste of $1000-$3000 a month, because they’re on the wrong business health insurance plan. That could be enrolling employees into a plan that is more expensive than they need, or even worse, they enroll them into plans with a limited or skinny network. That brings up another point to all of this. The crazy network issues that are happening now will all of the carriers
Business Health Insurance networks are crazy in 2017
Health Insurance networks are the number ONE issue that is causing disruption in the Employee Benefits world, hands down. Take Anthem for example…for Business Health Insurance plans for companies with under 100 employees there are 6 different networks available….SIX! Unless your Employee Benefits broker has the experience dealing with all of these…you’re running the risk of enrolling into something you’ll majorly regret.
When you have a minute…Google Anthem Blue Cross network litigation. Its page after page of issues that consumers and businesses have experienced not knowing the difference between the networks and how to navigate them. Its a HUGE problem, not only with Anthem, but all of them. Kaiser excluded of course!
The main theme here is to find a Benefits Broker that knows the industry, what they’re doing and specializes in the crazy industry known as Employee Benefits or Business Health Insurance.