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Five Reasons to Use a Broker

In today’s day and age where information is readily available and purchasing direct from a provider has become the norm, it may seem logical to cut out the middleman and purchase health insurance direct from the insurance carrier. Yet, that could not be further from the truth! Here are five reasons that partnering with a licensed health insurance Broker will help you, your business and your employees:

1.      A Broker works for you and has your best interests in mind. A Broker manages relationships with multiple insurance carriers.  This means that the Broker will research and compare insurance offerings from multiple carriers, finding the one that best suits the unique needs of your business. Think of it this way: Brokers don’t sell insurance; they help you purchase it.

2.      Working with a Broker does not cost you more.  You pay the same for coverage you purchase through a broker as you would if you purchased the identical policy directly from the carrier. It is also important to note that Brokers receive compensation direct from the insurance carrier you choose, so their services don’t cost you anything extra either.

3.      Brokers make purchasing health insurance easy.  When you work through a Broker to purchase health insurance coverage, you explain the needs of your company – and your Broker takes it from there.  No need to complete multiple requests for quotes, compare policies, reach out to multiple individuals with questions about those policies – or anything else.  Your Broker is your one point of contact and will manage all of this for you – speeding up the process and making it easy for you to make an informed decision about your company’s health insurance.

4.      Brokers have a high level of expertise. Brokers are required to be licensed and go through rigorous training in order to meet the licensing standards in their respective state. As a result, they have a great deal of insurance industry knowledge, allowing them to navigate the ins-and-outs of insurance contracts and their technical and legal terminology. They have access to a myriad of coverage options, will take the time to explain each one to you and will proactively negotiate a policy that best meets the needs of your business and employees.

5.      Brokers will keep you in compliance.  Brokers work to ensure that your business is compliant with federal, state and local health insurance laws and regulations, including the Patient Protection and Affordable Care Act (PPACA), the Health Insurance Portability and Accountability Act (HIPAA), Consolidated Omnibus Budget Reconciliation Act (COBRA), and more. As health care reform continues to evolve, having access to a Broker will ensure that your insurance coverage not only complies with the law but also continues to meet the needs of your employees and their dependents.


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