No. This is one of the most commonly misunderstood areas of this process. We can perform this analysis at any time during the year and if you decide to take advantage of the improved benefits and/or cost savings we present to you, a transition can be made with a 30-day notice to your existing insurance carriers.
i. We validate your plans are the best they can be and your are assured you’ve had a 3rd party objectively review your plans or,
ii. Bender Benefits obtains improved benefits for lower rates making your benefits dollars stretch further.
No. We ask for what is typically readily available data from you then we do all the heavy lifting until it’s time to present our findings back to you.
There is no cost to you! The analysis is done at no charge giving you a free evaluation of all your benefit plans.
We obtain a confidential census of your employees along with copies of your existing plans and billing and then we go to work on your behalf. We only need a letter from you authorizing us to negotiate the best possible plans on your behalf so that we can present those findings back to you.
Once we present our findings showing improved benefits and/or reduced costs, a “broker of record” letter is signed by you allowing Bender Benefits to serve as your new broker. You are in full control!
Once we collect the census, a copy of your plans and a Letter of Authorization, it takes approximately 4-6 weeks to complete our analysis and present our findings to you.
There is an enormous amount of complicated insurance industry jargon and contractual nuances where the difference in one word can turn your plans from mediocre to top-tier. Most of the time these upgrades can be yours while reducing your rates simultaneously!
We will present the benefit improvements and cost savings in an easy-to-comprehend format and will assist you in presenting the results to the decision makers at your organization.
Absolutely not! There are many benefit consultants and brokers in the marketplace most of which emerged from the sales and marketing teams with insurance carriers. There are very few consultants who come from the senior management ranks of the insurance companies. Our background gives us an extremely unique “insider knowledge perspective” which delivers a better outcome for you because we know the tricks of the insurance carrier industry for maximizing their profits which ends up costing you more.