How A Broker Helps You Save Time & Money With Small Business Insurance
How a broker helps you save time and money with small business health insurance. There are many benefits to shopping for small business health insurance coverage with help from a broker like me.
1) Stay compliant:
Licensed California small business health insurance brokers, are required to undergo training before earning a license. Each broker must also undergo a criminal background check and fingerprinting.
Once a license is acquired, California health insurance brokers must earn a total of 24 hours of Continuing Education (CE) Credits for each two-year license term and three hours of ethics training as part of their respective CE requirements.
This means I have an understanding of the guidelines and compliance requirements, so you don’t have to become an expert.
2) Get help for free:
Usually, brokers like myself offer additional services without any cost to the buyer. The commission paid to the broker is built into the premium for selected coverage. To learn more about how I am paid, watch this short video: https://www.magwestins.com/how-i-get-paid.
The cost is the same for plans whether you purchase California small business health insurance directly from an insurance company or through a broker.
This way, you get the same prices as you would if you did all the comparison shopping yourself, but I’ll do it for you, for free!
3) Reduce insurance costs:
A broker works with small business clients to gain a better understanding of their needs and budget – and the health care needs of employees while obtaining small business health insurance quotes.
He/she/they can help clients understand their options for small business health insurance; compare plans (HMO, PPO, EPO, HSA), and understand what makes one carrier or plan a better fit than another. The differentiators may be premium cost, out-of-pocket costs (deductibles, co-pays, and coinsurance), Rx coverage, or the health plan’s provider network.
Often, I’m able to help my clients reduce small business health insurance costs.
4) Get ongoing support at no cost:
A broker can also act as an advocate for clients if there’s a question or claims issue after coverage begins. And, of course, good brokers will reach out regularly if there are new hires or qualifying life events that might trigger a change in coverage for employees.
A proactive broker like me will also be in contact to help small business clients understand what’s changing or what new options might be available at renewal.
So, whenever you have a new employee or a termination or other life event, you can give me a call and I’ll get the paperwork done for you for no additional cost!