What does a health insurance broker do?
Health benefits brokers work on commission, meaning they get payments from the insurer for the people they enroll in that insurer’s plans. This can act as an incentive for the broker to successfully match you with what you’re looking for. Brokers may work with several insurance providers to get you access to the plans that match your needs, but some may only be able to sell plans from specific providers.
Beyond securing health insurance, brokers generally don’t provide many additional services to their clients.
How They’re Paid
It doesn’t cost you anything to work with a broker because they’re paid on commission by the health insurance carrier. Unfortunately, there’s always the lingering worry that a broker will match you with an insurer who pays the best commission, not necessarily the one that meets your needs the best.
Advantages of PEOPAYGO
At PEOPAYGO, we provide your business access to health coverage insurance providers and their plans which are specific to your needs. Because PEOPAYGO acts as a co-employer, the employees of all the PEO’s customers have access to the same pool of plans which allow room for much greater discounts than individual or small business plans. As an employer, you’ll want to offer plans with providers that suit your business and employees.
In addition to providing access to health coverage, PEOPAYGO offers additional services to customers. You will have access to high-quality human resources, compliance reports, and payroll — all of which can help make your business run more smoothly.
How We're Paid
PEOPAYGO however, takes a percentage of the savings passed to our clients. You pay us a monthly fee based on the number and type of employees you have. This fee covers all employee insurance policies, benefits, and all other services. In most cases, the portion of the fee that represents insurance and benefits is half what you would pay through a broker.
PEOPAYGO manages all of your insurance, benefits, and human resources tasks. They help you…
Have benefits questions, call us today and speak to one of our benefits advisors who can assist you in answers all your questions. You can reach us at 1-800-355-7741. You can also click here to fill out our online form. Either way works for us. Let's get you quoted today. Give us a call now.