Benefits Brokering & Administration
When it comes to employee benefits brokering, are you ready to say goodbye to multi-vendor relationships and hello to an efficient, cost-effective approach to running your business and securing competitive benefits package rates for your employees?
As a team of licensed brokers, LBMC Employment Partners offers top-to-bottom employee benefits brokering services. Through our full-service brokering options, we can provide companies with access to the most competitive benefits package rates available. Our team eases the burden of benefit selection, enrollment, education, compliance, and administration, allowing you to focus on running your business.
Additionally, our full-service approach to your employees’ well-being includes facilitating the navigation, management, development, and implementation of a customized wellness program. Even better, our payroll clients who also receive benefits brokering enjoy seamless integration between payroll and benefits activity.
LBMC EP’s Benefits Brokering Services include:
- Negotiation of Contract Variables & Rates
- Contract review of all plans proposed
- Comparison of rates to current and proposed group products
- Identify key components affecting rate increase/compare to market and current plans
- Review utilization data
- Reconciliation of Billing Statements from all Benefit Providers
- Assist with reconciliation of group products
- Provide reconciled statement
- Address issues impacting enrollment and/or collection of premium
- Administration and Communication of all Benefit Plans
- Employee Benefit Advocacy Service for all Eligible Participants
- COBRA Administration
- Access to Employee Navigator, our online enrollment tool
8 EXPECTATIONS OF A BENEFITS BROKER
- The broker should communicate and educate the client on their benefit offerings, as well as assist with the enrollment process for members.
- The broker should act as a liaison for Wellness and Risk Management activities, as well as establish a relationship with applicable vendors.
- The broker should provide Advocacy Services that assist all benefit-eligible and benefit-enrolled members with explanations of benefits, explanation of E.O.B.’s, provide support for members with claims issues, offer prescription assistance, and provide plan provisions and provider assistance.
- The broker should offer COBRA and 125 plan administration, including COBRA notices and reconciliation of premiums received (at a separate fee).
- The broker should assist in reconciliation of billing statements from all benefit providers.
- The broker should market, review, analyze, and propose plans at renewal.
- The broker should be knowledgeable and work with vendors to help ensure compliance with PPACA.
- The broker should provide access to an online benefits enrollment tool.
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Employee Benefits Team
All content and services on this page are offered by LBMC Employment Partners, LLC. LBMC Employment Partners, LLC, is part of the LBMC Family of Companies and is an independent entity with services and products being provided exclusively by LBMC Employment Partners, LLC.