What's the most valuable service an employee benefits firm provides?

Answer: vetting health plans and vendors to protect employers and patients from vendors whose financial interests are misaligned with theirs.

Since benefits brokers are commissioned salespeople working for the four major carriers, they’ve conditioned employers to think their options are extremely limited.

However, the marketplace of risk mgmt strategies and solutions is highly dynamic and vast.

I love competition and innovation, but the downside of this increasingly dynamic marketplace is that there are some terrible — and frankly — fraudulent products in the market (i.e., some of the level-funded plans and hospital indemnity products that masquerade as “health insurance”).

That said, comparing health plans simply based on their copays, deductibles, networks, and rates is woefully inadequate and can expose your company to legal and financial risks.

Relying on the marketing claims of health plans can be disastrous, and therefore programs must be judged based on their plan document as this is the contract for how the plan actually works…or doesn’t.

Since HR leaders and Executives don’t have the expertise needed to vet health plan contracts properly, it makes sense that they seek outside help.

The problem is that 81% of employers rely on benefits brokers for this help, but they don’t work for employers….they work for insurance companies.

This is like working with a CPA who gets paid by the IRS instead of you…

It doesn’t work, and that’s why 25% of what employers spend on healthcare is wasted.

Nationally, that averages out to ~$2,500 per employee, per year.

After experiencing this misalignment from the carrier and brokerage side of the industry, I developed a new kind of professional services company that allows us to sit on the same side of the table as employers and protect them from insurers and vendors.

We’re the first non-commission-based benefits consulting firm, and our mission is to eliminate the $300 Billion employers currently waste on healthcare annually.

Since 2018, we've saved our clients millions of dollars, and our average client saves ~$1,500 per employee, per year.

If you’d like to learn more, head to our website and download our free buyer’s guide, which tells you everything you need to know about selecting the right non-commission-based benefit consulting firm for your organization.