Benefits Success: A Guide to Navigating Your Health Agent or Broker Relationship
Buying health insurance can be a complicated business task. Make the whole process easier by developing a solid working relationship with your health broker or agent.
Your employees are your greatest asset. Recent reports suggest that offering quality and affordable health insurance benefits is a top priority for employees.
As a business owner, you may already have enough on your plate. Running day-to-day operations and performing other regular business tasks can lead some to seek outside help with insurance coverages. That's why partnering with a licensed health agent or broker – especially one who can provide the latest insurance information and guidance – is very common.
In this blog, let's explore a few key areas where you can find success in your health benefits partnership.
3 ways to create a strong health benefits foundation
"No one finds success alone in business; it often takes a solid team to reach your goals," explains LaTasha Ahl, licensed agent at Automatic Data Processing Insurance Agency, Inc. (ADPIA®) and vice president of sales at ADP®. "Since the health benefits market is constantly evolving, you need to protect yourself and your employees by following a few basic rules when partnering with a health agent or broker – whether that's a new arrangement or the one you've had since day one of your business."
With that in mind, here are some ideas on how you can strengthen any working relationship with a health agent or broker:
1. Communicate clearly. Being transparent is the foundation of any successful partnership. To achieve this with your health agent or broker, establish open lines of communication early. Articulate your business needs, goals, and expectations. Incorporate regular check-ins, as they're an excellent way to discuss any changes in your business or industry that may impact your overall benefits strategy.
2. Set goals collaboratively. Work with your agent or broker to set mutual goals and realistic objectives for your benefits program. Whether you're aiming to control costs, enhance employee satisfaction, or improve health outcomes, aligning your collective thinking will help positively guide your decisions. Tracking your progress and regularly revisiting your goals together makes everyone feel valued and will lead to positive results.
3. Be proactive on the issues. No matter how you feel about your health agent or broker, navigating open enrollment and managing your health benefits can be challenging. You need to be active in your partnership to make everyone's life easier and get the best results. In other words, if something isn't working for you or your employees, you need to speak up and make your health agent or broker aware of it so they can help solve the problem.
For instance, if you're frustrated by your agent or broker's manual paper-based health benefits process, let them know you'd like something different. With this knowledge, your health agent or broker might be able to recommend a more suitable solution. In this case, an online benefits administration dashboard might work out for your business, helping you to streamline your enrollment processes and providing your employees with easy access to their benefits information.
At the end of the day, if you're still unsure, do what intelligent savvy consumers do: explore your options. Shop around to see what's out there in the health benefits marketplace. Discuss your individual business needs with other industry experts. Check out as many alternatives as possible to know if you're truly getting the most out of your current insurance plans.
"Working with a health agent or broker comes down to trust," concludes Ahl. "If you feel comfortable with how you communicate with each other and what they can offer your business and your employees, then everyone has a chance to be successful."
To learn more about helping your employees and your business, check out ADP® and their affiliate, Automatic Data Processing Insurance Agency, Inc. (ADPIA®), for the latest in health benefits coverage.
Automatic Data Processing Insurance Agency, Inc. (ADPIA) is an affiliate of ADP, Inc. All insurance products will be offered and sold only through ADPIA, its licensed agents, or its licensed insurance partners, One ADP Blvd. Roseland, NJ 07068. CA license #0D04044. Licensed in 50 states. Certain services may not be available in all states with all carriers. Some carriers may charge an additional fee for services. This information is not intended as tax or legal advice. If you have any questions, contact a tax or legal professional. ADP, the ADP logo, and ADPIA are registered trademarks of ADP, Inc. Copyright © 2024 ADP, Inc. All rights reserved.
