Sometimes small business owners ask the question: Why should I use a broker at all, much less you as a broker? There are several reasons, but here are a few:
- Small businesses don’t pay any more to use a broker. The compensation a small business broker receives comes directly from the health insurance carrier, and the rates for small businesses are set by law. That means that even if an employer goes directly to a health insurance company, they will receive the same rates if they are classified as a small group (less than 50 employees).
For large businesses (over 50 employees), there is an additional fee added to your rates for broker compensation. However, any broker worth his or her salt will be able to negotiate lower rates by shopping their plan out to competing carriers to more than offset their commission.
- At MN Health Insurance Network, we offer a host of value-added services to our clients. Our most popular is the online enrollment/HRIS system that we give to clients at no charge. It serves as a secure, online portal for our clients’ employees to view their benefits, their per-paycheck costs, provider networks and many other materials. View a short video of how our system works for a new hire here.
In addition to the online system, we at MNHI give clients with ten or more employees on their plan access to HR consultants for free. Clients can then call HR professionals to get HR advice, and they can log-on to a website to access hundreds of training portals, HR Audit checklists, handbook creation wizards and much more! See what it does!
- You have someone in your corner. Health insurance and the companies that offer health insurance can be confusing, inefficient and bureaucratic. When working with a broker like MNHI, you have someone in your corner in case something goes wrong. If you have an employee who doesn’t get a claim paid, or who has a complicated situation arise, a good broker can cut through the red tape and get answers to complex questions.
Please consider using MNHI as your organization’s employee benefit broker. Not only do we make it affordable, we make it easy!
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