or in other words—How to hire Broad Reach Benefits...

You just slip out the back, Jack
Make a new plan, Stan
You don't need to be coy, Roy
Just get yourself free*

With apologies to Paul Simon, we're making light of an issue that is troublesome for many human resource people. You realize you're not getting the service and/or advice you need but you don't know how to terminate that comfortable relationship you have with your current broker.

First, stay focused on your needs. As the cost of employee benefits rises higher and higher many companies are looking beyond their current relationships for answers.

Did You Know...

	Changing your benefits broker is easy. Just submit a simple Broker of Record letter to your insurance carrier.
	You can change your benefits broker anytime you want during the year. Many people mistakenly believe they can only make a change on their plans anniversary. You have the authority to make this change at any point during the year.
	There is no need to change carriers or plans. You can remain with your current benefits and insurance carriers while Broad Reach Benefits provides the service. Your current monthly bills and premiums will remain the same!
	Immediate Service and Support. Once you name Broad Reach Benefits as your benefits broker we immediately provide you and your employees with our customer service, support and our Free Value-Added Services

Hiring Broad Reach Benefits
Broker of Record Letter

In order to change brokers you just submit a Broker of Record letter to your insurance carrier(s) appointing Broad Reach Benefits as your new broker. This tells the insurance carrier you have authorized Broad Reach Benefits to have access to your plans. We can immediately act on your behalf and begin providing you with the service and support you should be getting. Any fees or commissions on your plans will now go to Broad Reach Benefits.

Click here for a sample Broker of Record Letter

Notify Your Exisiting Broker

A quick phone call or letter informing them of your decision to move on is all it takes. If the broker or consultant is professional they will politely inquire about why you are leaving either directly or through a survey. At no point should you feel obligated to give specific reasons or be made to feel guilty.

If you are the type that just doesn't like to say goodbye, we'll notify your current broker for you with a professional and courteous letter.

The "We can also do that !" Game

Be ready for the "we can also do that" game. That's where the broker who is losing the business because they were not attentive to your needs and wasn't providing you with any value suddenly wakes up and starts promising you the sun, the moon and the stars.

Do I really need to change Brokers?

Think of it in these terms...Would you keep an employee who was performing only 10% to 20% of their job requirements? How long would you continue to throw 80% to 90% of their salary down the drain.

But it gets worse. Much worse. Because that employee wasn't doing their job, your companys cost of doing business was increased by thousands of dollars. Not only could you be paying your benefits broker for services your company is not receiving, but their non-performance could also be costing you significant hard dollars in the actual cost of your benefits.

( Click Here for a recent case study)

It's Not About A 1% Savings...

Anyone can undercut your current benefit costs by one or two percent. That's not what we're talking about.

The reality is that there are only a small percentage of employee benefits brokers that are on "top of their game" across the country. Instead of dealing with a benefits broker who peddles policies, you should be dealing with an advisor who can help you control and manage the costs of your benefits plans and provide you with the service and support you need.

We understand that relationships sometimes come into play. However, the stakes have changed in the last few years as:

1) The dollars at risk have increased dramatically and are having a real impact on the bottom-line perfomance of companies. A recent survey of CEOs indicated that employee benefit costs were one of the top five concerns for the future.

2) Employees now view their employee benefits as an expected part of compensation. Simply reducing the benefits every year is not a long-term solution and can lead to a weakening of a firms workforce.

We invite you to speak with our current clients to find out first hand about the Broad Reach Benefits experience.

* "50 Ways to Leave Your Lover" written by Paul Simon www.PaulSimon.com