3 Questions To Ask Your Broker at Renewal
Your annual benefits plan renewal is a key moment for your business – it’s when you should be looking deeply into whether your benefits plan still “fits” your business.
Here are three questions to ask your broker at renewal time.
1. Does my plan encourage lower claims costs?
Claims is the primary driver of the price of your benefits plan. Every broker knows this – which is why they should be offering you an opportunity to lower your claims experience. If your broker isn’t finding claims solutions – like prescription drug options that cap your costs, or disability management services that return employees to work quickly and safely – then your plan needs work.
2. Am I set up for a complex financial transaction?
Offering a benefits plan means that you have decisions to make – and some of these aren’t simple. You have to make decisions about risks, and trade-offs to balance plan costs with access to services. Plus, your plan decisions could have significant tax implications. You want your employees to be covered – but you want your plan to be sustainable, too. If your broker hasn’t explained to you how your decisions can affect your organization’s financial health then your plan needs work.
3. How should my plan change?
Every employee benefits renewal should start with a discussion about how your business has changed – and how your benefits plan needs to change with it. Be wary of a renewal discussion that starts and ends with “same as last year – right?”. If your broker isn’t identifying new solutions and opportunities each year then your plan needs work.
Better Advice = Better Benefits
GroupHEALTH uses an exclusive Advisor Partner network to help Canadian businesses find better benefits – not only at purchase, but at renewal, too. Click the button below to request a no obligation 10 minute conversation with GroupHEALTH today.

We’re proud to partner with Tree Canada to help compensate for our carbon footprint.
By visiting our website online, you are actively participating in our paper-free initiative—thank you!
Stay In Touch