FAQs

Make sure there's a good service model behind your broker. All too often, a licensed broker sells you on his agency, and then a non-licensed individual tries to service your account. Not having a qualified benefits consultant can have a detrimental impact on your employee benefits and your business.

Healthcare regulations are frequently changing. Make sure your Controller or Human Resource manager receives proactive support and can reach out with questions. It is essential to have someone who is accessible. People might not even know the right questions to ask. Often a phone conversation is needed to help clear up any confusion. 

Lastly, a significant thing to watch out for is the promise of one-stop-shop and all-in-one technology. Software like health care legislation is changing frequently. Software is only as good as the people managing the data. You'll need an independent expert to assist your company change with the market and regulations as appropriate. 

Generally, you don't pay your broker directly. Regardless, your broker should support your organization throughout the year. Most brokers are compensated per participant per month fee. As a result, most brokerage focus only on large businesses. Troy Benefits Consulting is the exact opposite. We focus only on companies that employ less than 500 employees.  

You can choose a new broker at any time as long as it is not too close to your annual renewal date. Changing brokers is as simple as signing a letter. A newly appointed broker will receive all the information from your insurance carrier(s) to manage your benefits effectively.