Reasons to Use an Insurance Broker

Using an insurance broker can help tremendously if your business lacks benefits personnel, or if you have limited resources for health benefits administration. A local broker knows the insurance carriers in your area, and can help you find the best plan for your business.

The reason that

many businesses use an insurance broker is because most brokers' services are free. Insurance carriers pay brokers for connecting them with customers, so brokers don't pass any costs along to you. A broker's services may include:

• Investigating plans and providers who offer you a wide range of insurance options;
• Helping you with legal and compliance issues, including the Health Insurance Portability and Accountability Act (HIPAA), the Consolidated Omnibus Budget Reconciliation Act (COBRA), the Employee Retirement Income Security Act (ERISA), and other regulations;
• Providing insurance consultations to you and your employees, educating new employees about insurance, and giving benefit orientations.