A group health insurance agent, more commonly referred to as a broker, is someone who represents multiple insurance companies across Colorado rather than working as a representative for a single company.

By working with a group health insurance agent, you can simplify the search for health insurance that will offer the most comprehensive coverage at the most affordable price for your employees and reduce your stress as a business owner.

Because of the independent nature of the brokerage business, you can review multiple options and receive unbiased feedback since the person helping you doesn’t work for any of the companies he or she represents.

However, it’s essential to do your research and due diligence to ensure that you receive the best possible health coverage to meet the needs of your group. Your research on finding the best health coverage includes interviewing the group health insurance agent. We have provided seven questions below that can help you narrow down who you want to work with to find great health insurance.

Can You Provide Me with References?

Any group health insurance agent can sing his or her praises, whether the claims are valid or not. Before working with a broker, it’s crucial to speak to others who have worked with the same person or agency in the past. This will help you to determine the broker’s reputation within the industry. It’s most helpful if you can speak to references from companies with a similar scope and size to your business.

Are You Licensed and Registered as a Broker in Colorado?

Any broker you do business with must have the proper license and registration in the state where you reside. This ensures that any insurance you take on is legitimate and that the group health insurance agent has the authority to represent the insurance company. Keep in mind that an insurance broker can also work as an insurance agent, but each job requires license and registration.

Has a Client Ever Sued You?

A group health insurance agent whom multiple clients have sued is one that you want to avoid. If you don’t think the broker is giving you an honest answer, you will need to research online or at the library since no central clearinghouse exists with this type of information. However, you can find out if the broker has faced disciplinary action by calling the consumer hotline for Colorado’s insurance commissioner.

Related: Colorado’s Insurance Consumer Complaint Portal 

What Can You Tell Me About the Types of Products I Need?

Every group has different requirements when it comes to health insurance features and premiums. You should feel comfortable that the broker you’re considering working with understands the features that matter to you and can explain them in a way that helps you select the best overall health insurance policy. For example, do most of the insurance companies represented offer family coverage or employee-only coverage? Do high-deductible plans come with the option to save money by opening a health savings account (HSA)? These are just two examples of common concerns.

Will I Have a Dedicated Account Manager?

It can be disappointing to feel like you click with one group health insurance agent only to find out you will deal with someone else after you become a client. If a different person answers your phone call or email every time, that can feel even more frustrating. To avoid this, don’t hesitate to ask whether you will primarily deal with the same person or if the agency takes more of a team approach. Knowing this upfront puts you in control because you get to decide if you want to repeat information to multiple agents or not.

How Would You Describe Your Network of Group Health Insurance Providers?

A group health insurance agent can represent several well-known health insurance companies and still offer little value to clients. For example, the plans provided by the broker’s contacts may have limited access to specialists or in-network providers. This can both frustrate employees and cause them to incur more substantial out-of-pocket costs than necessary. You also want to know whether a health insurance carrier you’re considering signing up with generally has an excellent or poor relationship with local healthcare providers. The latter could indicate that a physician group will drop its association with the health insurance company soon.

What Kind of Support Can I Expect From a Group Health Insurance Agent?

Your business is unique, and the support you receive from your health insurance broker should be too. Whether that’s offering written material in more than one language, the ability to reach someone during off-hours, or another concern, you should feel confident that the agency can handle them. The last thing you want is to work with a broker that takes a one-size-fits-all approach and doesn’t take any of your company’s unique factors into consideration when providing service.

Work with a Licensed and Registered Broker in Denver or Colorado Springs

Preferred Insurance maintains branches in Colorado’s two most populated cities for the convenience of our customers. We invite you to contact us today to request a time to meet.

We look forward to helping you find just the right health insurance plan for your employees.

Get a Free Consultation with a Group Business Health Insurance Policy Expert

Contact us today to get even more ideas for giving your Colorado small business employees of any age the health care benefits they want the most. We can answer your questions about group health insurance plans and provide reliable quotes.

Call (719) 599-7989

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