5 reasons to work with insurance consulting firms for employee benefits

December 29, 2021 at 7:00 AM
5 reasons to work with insurance consulting firms for employee benefits

Employee benefits packages are an important part of getting and keeping the best talent in your industry. Aside from salary, one of the top concerns job seekers have in interviews is regarding the benefits package offered by an employer. However, the problem with putting together a benefits package comes with a lack of understanding of what’s competitive for your field and how to make it affordable. With help from insurance consulting firms, you can find a balance between quality benefits, affordability for your employees, and affordability for your company. If you’ve never worked with a benefits consulting firm, our team at Ashton Benefits has five great reasons you should.

Expertise in the field

Understanding insurance policies takes a lot of time and dedication. With laws surrounding health insurance changing constantly and plans evolving to meet the needs of those laws, it’s a full-time job knowing what insurance companies have to offer. You likely don’t have time to research insurance plans for multiple companies to find the best of what you can offer your employees. Instead, leave that to our insurance consulting firm because we dedicate our time to understanding what’s available for your company.

Maintain strategic relationships

Part of ensuring that you get the best insurance package for your employees will include a measure of negotiation. Your company might not have the kind of relationship with an insurance provider to go in and ask for a lower rate. Insurance consulting firms certainly have these relationships and can help you get a lower premium on your plan. What’s more, consultants can get information from insurance agents regarding changes in policies and premiums before they happen, which allows you to plan for the coming year.

They’re problem solvers

Changes in insurance plans can cause problems for your company. You and your employees might like the balance of affordability and benefits that come with your current insurance plan, but it could change next year and not be as beneficial as before. Such changes could lead to you looking elsewhere for benefits for your employees, but you don’t have time to scour the internet for plans that match what you had. An insurance consulting firm can help you find a plan that’s either comparable to the plan you enjoyed or one that’s close to it. Your consultant will work to find solutions to any problems you run into with your benefits package so you can focus on other, more important things.

Establish a competitive benefits package

The employee benefits package your company offers can be a deal-breaker if it’s not competitive with other companies in your industry. You could have the best talent available ready to hire. Still, if you’re not offering affordable health insurance options, a 401(k), and life insurance policies, they could go with another company. With help from insurance consulting firms, you get help putting together a competitive benefits package that will attract the top talent in your field.

Manage the benefits package

As we’ve previously mentioned, it’s not uncommon for insurance policies and other parts of your benefits package to change from year to year. Your insurance consulting firm will take charge of your benefits package to monitor potential changes and let you know what is coming. They’ll also be there as a reference when you have questions regarding specific items in your insurance policy, 401(k) plan, or other aspects of your plan.

Contact us to get started

You don’t have to take time out of your busy schedule to manage your company’s benefits package. Insurance consulting firms can help you find the best benefits package to offer your current employees to help reduce turnover and attract the best talent in your field. Give us a call at 877-640-2813 or send a message using our contact form to get started.

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