Misconception 1: “It will cost money to get help from a health insurance broker”
There isn’t always a fee associated with getting help from a health insurance broker. Small businesses of 4 or fewer people usually are charged for service. However, businesses larger than this should get assistance at no additional cost. A broker is certified and knowledgeable about coverage, giving you peace of mind.
Misconception 2: “Health insurance brokers only quote certain carriers”
When inquiring with a health insurance broker, don’t be afraid to ask which carriers they quote. Brokers that quote a variety of carriers are able to shop more plans to find one that fits best for your benefit and budget needs. For instance, LifePlan Financial Inc. is partnered with most Washington carriers, giving you more options to choose from.
Misconception 3: “I won’t be able to find a plan that fits my budget”
Insurance brokers work with you to find the right plan based on what’s important to you. For example, deductibles, co-pays, premiums, and coverage. Supplemental plans can be added as you see fit. These include dental, vision, disability, and life insurance. The percentage you pay as an employer will vary. Another advantage of offering group health plans is the tax benefit.
Misconception 4: “The same plans are offered for individuals”
Individual and group health insurance are not the same. While the main differentiator between plans is who pays for the plan (employer vs an individual) you will also find that these plans usually have better networks and rates. This is a result of having more people on the plan. When selecting a plan, a broker will aid you in finding a network that works best for your employees.