How A Health Insurance Agent Can Lower Your Company’s Costs

A man and woman shake hands at a table, demonstrating how a health insurance agent can lower your company's costs.

You want fully insured plan options for your organization. As your health insurance agent, so do we.

Cutting costs, reducing your time investment, and keeping your employees healthy and happy are goals we share with you.

The trouble is, you might be nervous to work with a health insurance agent.

Are they really all they’re cracked up to be? What can they do to save you money that you couldn’t do on our own in the market? What kind of cost savings can you expect from using one?

We understand your apprehension. Change is difficult, even if it is for the best. We’d like to take a stab at these questions and more in today’s post.

What we’ll cover in this article:

  • How we help you save on employee benefits.
  • Why experience makes a difference when shopping for plans.
  • How and why we sometimes suggest bundling coverage.
  • How HR support can save you money.

A Health Insurance Agent Does Comparison Shopping

Are you spending more for your employee health plans than needed? Many companies are.

Busy schedules, overworked HR departments, and a confusing health care market make comparison shopping all the more complicated.

Our job as your health insurance agent is to cut through that noise. We get to the heart of where your plan might be taking a hit. Our team does the heavy lifting for you by comparison shopping the market.

We ask the big questions about pharmaceutical costs, wellness incentives, and government health care refunds. Our team leaves no stone unturned to guarantee your company has a plan that saves you money and benefits your employees.

Everyone knows that comparing costs is the best way to find the right service. However, actively navigating the marketplace can be whole other task you simply don’t have time for. Don’t lose out on the benefits of comparison shopping simply because your team doesn’t have the bandwidth to do it. Work with a health insurance agent who knows how to quickly find and compare the best plans for your organization.

Bundled Coverage Produces Better Prices

In the vast majority of plans bundling coverage can save your business and employees money on health care costs.

We use a strategic approach to find your organization bundled discounts on basic health care coverage. Lower prescription costs, deductibles, and more is often a result of offering bundled plans to your employees.

However, we don’t blindly recommend bundled plans just because they sound good. We use our experience and industry insight to cut a clear path to finding an insurance plan that works.

Typically, your organization simply won’t have the time or resources to determine the best-bundled rates. Our team does and will do this for you.

We Negotiate Rates on Your Behalf

As your health insurance agent, we have the legal ability and industry knowledge to negotiate with insurance companies on your behalf.

A great example is how we negotiate to lower your group rate. We dig deep into your employee workforce (if you have fewer than 50 employees) and find out their demographics, what coverage they’ll likely need and what coverage they won’t.

Armed with this information we negotiate for lower ratings on your company’s behalf. That’s a benefit you aren’t likely to have without a health insurance agent in your corner. We also hone in on competitive data that makes insurance companies want to insure your group.

We Have a More Comprehensive Understanding of Policies Offered By Specific Insurance Providers

Our team has over twenty years of experience working with Texas insurance providers and knows exactly what each company offers. As a result, we can easily pinpoint the exact fully insured plan that’s best for you and your team.

We understand group ratings, HRA plans, HR compliance, and Medicare and use that knowledge to find a plan that’s best for you.

How many people on your team can provide that same insight?

To navigate the complexities of the modern healthcare industry you need an expert on your side to cut costs and keep your business fully in line with healthcare updates. Our team can do that.

We Know Which Benefits to Cut

Did you know that some 69% of employees report being dissatisfied with the employee benefits their company offers? Are your employees among them? If so, you could be overspending for your benefits packages.

Other research shows that over 75% of employees stay with their current employer if they are satisfied with their benefits program.

It’s worth noting that more benefits aren’t necessarily better. You need to tune into what employees want.

A health insurance agent should be asking employees questions about their health care needs. They should also be able to tailor employee benefits plans that fit the needs of your company’s demographics.

Instead of overpaying for your benefits plan, get one that your employees actually want to use, and eliminate the ones they don’t.

We Increase the Efficiency of Your HR Team

Your HR team is no doubt amazing, but what could make it even stronger is the added support of compliance geniuses who know precisely how to handle your group plans. That’s what we do as your health insurance agent.

We stay on top of the latest compliance updates to ensure your company is always meeting the necessary standards.

Our team also handles aspects such as:

  • Recruiting
  • Employee onboarding tools
  • FSA and COBRA Administration
  • Eligibility Management
  • And much more

We Help You Avoid Group Health Mistakes

Sometimes the costliest part of your employee health plan is the mistakes you make. For example, many companies make mistakes like these and don’t even know it:

-Listing themselves as the wrong group size or not updating the size of their business as it grows/declines.

-Offering multiple plans instead of one comprehensive plan that employees can adjust individually.

-Auto-renewing without even giving it a second thought.

-Not staying on top of your administration.

Our job is to help your company avoid these mistakes, thus saving you money in the present and into the future.

We Offer Free Services

The best part is, our services come at no cost to your business if you have fewer than 50 employees. We know how important it is to you that you get the best service and maintain the lowest costs possible. As a health insurance agent for multiple companies in the Houston, Texas area, we take our role seriously.

Contact us to see if we can help your business cut costs on your group health insurance plan.

Frequently Asked Questions

What do health insurance agents do to help businesses save money on employee benefits?

Health insurance agents help by comparison shopping the market, asking critical questions about various costs, and ensuring companies get the best value. They cut through the noise and handle the complexities, ensuring businesses don’t overspend.

How does bundling coverage impact healthcare costs for businesses?

Bundling can save businesses and employees money on healthcare. It often results in lower prescription costs, deductibles, and more. However, agents ensure that the bundled plans recommended genuinely fit the organization’s needs.

How do health insurance agents use their legal ability and industry knowledge?

Agents negotiate with insurance companies on behalf of businesses. For example, they use workforce demographics and coverage needs to argue for lower group rates. Their expertise also lets them tap into competitive data to make insurance companies offer better terms.

Why is having an understanding of policies offered by specific insurance providers important?

With a comprehensive understanding of policies, agents can pinpoint the best fully insured plans for a business and its employees. They leverage their knowledge of group ratings, HRA plans, HR compliance, and Medicare to find the best fit.

How can health insurance agents enhance the efficiency of an HR team?

Health insurance agents complement HR teams by providing compliance expertise and handling group plans. They ensure the company meets necessary standards, offer tools for recruiting and employee onboarding, and manage aspects like FSA, COBRA Administration, and Eligibility Management.

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