IS YOUR HEALTH INSURANCE BROKER EARNING THEIR CONSULTANT WINGS?

Since 1966, our company, Brokers/Consultants, Inc. has been carrying out  research and tailoring health insurance packages according to the needs of the individuals and employer clients. 

Acting as their consultant, we ask that awesome question to help people verbalize what they need or want.  The reality is that most people, even after being encouraged to do so, do not know to talk to us first about how to harness the power of their health benefits.  Only a few employers know how to use us and their benefits to improve employee morale and to reverse employee pressure for increased wages. We often recommend a Health Reimbursement Arrangement (HRA), where the employer takes on some risk to ease pressure on employee’s health insurance contributions.  On the individual side we often advise the individual to select a Health Savings Account (HSA) which affords the ability to pay medical and dental claims with PRE-TAX dollars. 

Employers don’t want to just hear us say that "there is a problem".  We tell them what they should be doing and how to inform their employees, so that employees continue to appreciate the value of their employer sponsored benefits.  

The new Summary and Benefits Rule (SBC) requires health plans to distribute an easy–to-understand document that explains healthcare coverage.  With us involved, it is an easy wave of communication, as we determine through surveying how employees understand what their employers offer them.  It is also a way for us, as consultants, to encourage clients to look carefully at their health plan options.  Many employers are on auto-pilot, “Give us what you did last year”.  Our government is encouraging us all to take a closer at SBC and thus we will provide the narrative.  While others brokers and consultants struggle to communicate, we make ourselves and our expertise accessible 24/7.  

Oh yeah, “once again” . . . by August 1st  of this year, insurance companies had to issue rebate checks based on their medical loss formulas. . . 15% or 20% of insurance expenses had to be spent on administrative costs.  If you think you might be entitled to a rebate check, let me know or if you like this PATCH blog, please "recommend" us!!  Want to save on your health insurance costs;  just shoot us an email. . .  jim@brokersconsultantsinc.com. Thanks!!  The 24/7 Insurance Guy