- Broker/Consultant Initiates
- Timing with insurer on renewal
- Determines if current plan design is still compliant and competitive for selected industry
- Considers any enhancements
- Looks at emerging benefit trends
- Reviews any legislative changes
- Considers any employee or local HR concerns or feedback
- Broker/Consultant Review
- Evaluates carrier rating and reputation
- Analyzes renewal data (claims/trend/calculations)*
- Determines if renewal in line with company philosophy
- Reviews proposed enhancements or plan modifications
- Negotiates with carrier
- Broker/Consultant Prepares renewal report with recommendations to the client
*BenefitsTec