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How to choose a benefit advisor
Q: What's the difference between a
broker and a consultant?
A: That's an age-old question. In
fact, people in our business aren't
even sure.
That's why we've adopted the term,
benefit advisor. We're a partner in
your plan--
an extension of your team. We are
your advisor regarding health
benefit and
related issues.
As such, we can be compensated on a
commission or direct fee basis.
Either way,
we are consultative advisors to your
organization.
Q: Why do I even need a
broker/consultant?
A: Maybe you don't. There are some
companies who choose to go it alone
and
negotiate directly with benefit plan
providers. Most, however, don't have
that kind
of expertise on staff and prefer to
negotiate along with professionals
who know the
ropes, understand the trends, and
have in-depth experience.
Q: I'm not sure we're being as
creative in solving our benefit cost
issues as we
could be. What should I do?
A: You have lots of options and
you've probably tried some of them
already.
Benefit Associates is available for
a two-hour consultation to determine
if our
services offer any solution to you
and your organization. Take us up on
it. We
doubt you'll be disappointed.
Q: What criteria should I be using
in selecting a broker/consultant?
A: There are lots of things to
consider. We recommend spending two
hours with us
and we can help you know what to
look for. Several sources offer a
matrix to
consider. We think it's all about
chemistry. Does your advisor
resonate with
what's important to you and are they
creative and hard-working enough to
make
things happen? We are
entrepreneurial and innovative. We
like moving forward in
everything we do. We are not
satisfied with the status quo.
People are our most
important asset.
Q: Who can I get advice from in
selecting a benefit advisor?
A: You have lots of options. You can
turn to local organizations like
SHRM. You
can call your accountant, attorney,
current health plan providers and
other
employers.
Q: I already have a broker - how
does Benefit Associates fit with
that?
A: Sometimes Benefit Associates will
provide companies with a
consultative, feebased
analysis of current plans, including
your current broker's service and
advice.
Other times, Benefit Associates is
named the broker or consultant of
record on your
existing plans to begin our work.
Q: What are your typical fees?
A: Our typical fees are likely
similar to what you are paying
currently. Sometimes
more. Sometimes less. The important
question is - what do you need and
want
and are you getting it for a fair
price today? If you don't know, we
can help you
find out.
Q: Who are your clients?
A: Our clients are local, regional
and national firms ranging in size,
typically, from
50 to a few thousand employees.
Q: How do I get started with Benefit
Associates?
A: We recommend a two-hour meeting
between your team and ours to
determine if
we are a fit for your organization.
From there, we agree on what we'll
do, what
you'll do, and what the cost will
be. Then, we roll up our sleeves and
start working
hard for you.
Benefit Associates is available for
a no-cost, get-to-know-you, two-hour
consultation to
determine if our services may be a
better solution for you and your
organization.
Contact:
Loretta Hirsch
Benefit Associates
317.218.1516
877.833.5900, ext. 1516
lhirsch@workingwell4you.com
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