The Questions You Should Be Asking Your Broker but Aren’t

When it comes to employee benefits, choosing the right broker can make all the difference. However, many employers don’t dig deep enough when evaluating brokers. Instead, they focus on surface-level metrics like price, missing the opportunity to uncover the broker’s ability to solve real business problems and deliver long-term value.

To find the right partner, you need to ask the right questions. Here are some insightful ones to challenge your broker and ensure they’re truly invested in your success:

1. How will you help us lower healthcare costs without cutting benefits?

The true measure of a broker’s skill lies in their ability to reduce costs while maintaining or even enhancing the quality of your offerings. Look for creative strategies like claims analysis, cost-containment measures, or alternative funding options.

2. What tools and resources do you provide to improve employee understanding and engagement?

Benefits are only valuable if employees understand and use them. Ask about resources such as educational materials, benefits guides, or interactive apps that make the process easier for your team.

3. How do you ensure compliance with changing regulations?

Benefits compliance is complex and ever-evolving. Your broker should have a clear plan for keeping you informed and proactive about regulatory changes to avoid costly mistakes.

4. Can you provide examples of how you’ve helped other companies solve unique challenges?

A broker’s track record can reveal a lot about their capabilities. Ask for real-life examples that demonstrate their ability to address challenges similar to yours.

5. What strategies do you use to retain and attract top talent through benefits?

Benefits are a key part of your employee value proposition. Your broker should be able to design a plan that supports your recruitment and retention goals while staying within your budget.

6. How do you approach long-term planning for our benefits strategy?

A great broker doesn’t just focus on the here and now. They should help you develop a multi-year plan that aligns with your company’s goals and adapts to changing needs.

7. What is your process for benchmarking our benefits against the market?

To stay competitive, you need to know how your benefits compare to others in your industry. Your broker should have access to reliable data and use it to guide your strategy.

8. How will you support us throughout the year, not just at renewal time?

Brokers who only show up during renewal season aren’t true partners. Ask about ongoing support, such as regular check-ins, reporting, and proactive advice.

9. Do you have expertise in implementing wellness programs or alternative benefits?

With the rise of holistic wellness and non-traditional benefits, a forward-thinking broker can help you explore programs that improve employee well-being and productivity.

10. How do you measure success with your clients?

A broker’s definition of success can reveal their priorities. Look for metrics that go beyond cost savings, such as employee satisfaction, plan utilization, or improved health outcomes.

The Bottom Line

The relationship with your broker should be more than transactional. By asking these questions, you’ll uncover whether they’re capable of solving real business problems and aligning your benefits strategy with your company’s long-term vision. Don’t settle for surface-level service—find a partner who can truly deliver value.