3 Things to Ask Your Benefits Provider
Whether you’re looking for a benefits provider for the first time or need to make a change – knowing what questions to ask a potential advisor is an important part of ensuring you choose the right one.
You need to be clear about what your business and its employees need, and how you can keep your costs sustainable over the long term.
Start with some basics:
1. Is this benefits plan sustainable?
Beware bait-and-switch benefit plans: impossibly low first year rates, and then a nasty surprise upon renewal. If your benefits provider hasn’t addressed root issues like rising prescription drug costs, disability behavior, and inefficient administrative processes then you need to ask whether your plan is sustainable over the long-term.
2. Is my benefits plan hassle-free?
You want to concentrate on moving your organization forward, not on running your benefits plan. Employee enrolment and changes, understanding your coverages and educating your employees, efficient billing and reporting, and ensuring that employee claims are processed smoothly should be built into your benefits experience, not something you need to monitor. Make sure your benefits provider is giving you the right tools for efficient administration.
3. Can my benefits plan change with my organization?
Your business and your employees are changing – and your benefits plan needs to change with them. Employers need to address root issues like unsustainable cost increases and employees’ desire for greater flexibility. If your provider is one-size-fits-all, or you have to use one provider for all parts of your plan, you may be missing out. GroupHEALTH gives your business access to more options – and better solutions.
GroupHEALTH’s 4,000 clients have a huge advantage over their competitors: our exclusive Advisor Partner network. They don’t skip over the small but crucial details that make all the difference in plan designs. Instead, GroupHEALTH clients know that their coverage is fully tailored for their business, and that their benefits are working as efficiently as the rest of their business.