With health care costs expected to rise by the highest levels in 13 years, some employers are looking for new ways to reduce costs and improve coverage for employees.
Employers rely on benefits advisors to help them maximize the return on their benefits investments. However, some people, including myself, believe that the traditional revenue model used by brokers undermines their ability to achieve this for employers. Seeing the influence benefits advisors have over procurement and purchasing decisions, some employers are considering turning to a fee-based benefits firm. While the promise of enhanced returns on benefits investments is alluring, there are several factors employers need to consider before making the leap.
In this article, we'll address some questions and concerns employers must answer before switching to a fee-based benefits firm.
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