Your benefits advisor can work with your broker as a consultant, finding the right people to turn your plan into a strategic advantage for your business. (Image Shutterstock)
If you've been frustrated with the quality and cost of your current benefits plan, you may have considered working with a benefits advisor. What gives many business owners pause, however, is the idea that they'd have to terminate their relationship with their broker in order to bring an advisor onto the team. Abandoning the idea of the advisor in favor of the theoretically "safer" option of sticking with a broker may seem like the best solution in the face of uncertainty, but avoiding any kind of change altogether could keep your benefits plan permanently subpar.
Here's why taking a risk by working with an advisor and your broker can pay off for your plan:
|Same solutions, same problems
Despite the fact that health care costs continue to go up while health care quality continues to go down, many employers are still willing to stick with the same broker and benefits plan year after year. In fact, Pricewaterhouse Coopers' Health Research Institute (HRI) is anticipating a greater cost increase than ever before for 2020 at 6 percent.
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