How Brokers are Involved in Group Health Insurance for Businesses

• A health insurance broker is an intermediary between businesses and health insurers, helping to match groups with a plan or company that is best suited to their needs.
• Having a health insurance broker allows one to explore more options for group coverage, saving money for the business.
• The broker cannot reduce prices because the health plan's prices are fixed. However, they can do all the groundwork for the business.
• Brokers act in the client's best interest, helping them compare and secure coverage depending on their budget and needs.

• They also make impartial recommendations based on the business's insurance needs, leveraging their connections with insurers to negotiate the best rates.
• Brokers have in-depth knowledge of the benefits, plans, insurers, local laws, exclusions, and available providers in the medical plans.
• Using all that knowledge for the comparison and choosing of the right group health plan is something brokers are good at.
• They can also offer additional services like claims processing assistance, plan review, and renewal.
• Brokers provide for a smooth buying process and consult on employee benefits plans for corporate agents.
• They take care of selling to and retaining customers while the insurers can focus on improving existing products and developing new ones.

Summary of Early Findings

• Our first hour of research was spent scanning for information about group health insurance brokers to determine whether the information is available, which it is. Due to the time constraint, we have only provided details surrounding how brokers are involved.
• The rest of the request can be tacked through the options provided in the scoping section below.