Medical Insurance and Company Benefits

In today’s tight job market employers are finding they need to become more creative in order to recruit and retain employees. One way business is adjusting to the new employment landscape is by offering top quality employee benefits packages. Based on recent surveys, many employees are no longer listing their direct pay as their primary reason for maintaining or choosing employment with one organization over another.

While non-pay related factors like company culture and flexible hours are certainly appealing many are also choosing employment based on more concrete issues like what does the company’s medical benefits package look like.

If you are in the top management of a growing company, you are probably aware already of the competing interest between Human Resources and Accounting. Trying to balance out these two while addressing employment issues can certainly be a challenge for most.

Finding the right balance of medical insurance, benefits, pay, and development of a positive company culture can feel like a juggling act for most. This is where using a local benefits broker can be especially helpful.

What is a benefits broker? This is someone who acts as an agent on behalf of a business to shop around different insurance providers to determine the best mix of insurance benefits to match a company’s budget.

With insurance agents seemingly on every corner, it is easy for a business to become overwhelmed to the point of inaction and to settle to the status quo. This can be a mistake as it can end up costing a business thousands of dollars with a sub-standard healthcare program that neither addresses the needs of their employees nor acts as a positive benefits option to recruit and retain high-quality employment.

So where to turn in this sea of uncertainty. This will, of course, depend on your locality. For most the search begins with Google by searching for things like “local healthcare brokers, group medical insurance providers near me, or local reviews of medical insurance agents”.

While the above questions may provide good results often times, such results are confusing as they do not truly address what sets one insurance broker above that of another.

At Chappell, Smith and Associates, we set ourselves apart from other insurance agents as we have an entire division dedicated to healthcare insurance and related human resource issues. Because of our focused insurance approach, this means that your representative will be highly educated on the topic of healthcare and related issues. While other companies may sell multiple insurance lines and bundle them together for you under the auspices of saving a few dollars, it is important to understand these type agents very rarely have expertise in any one field and may, in fact, leave your coverage as less than desirable in all due to lack of knowledge and expertise.

One of the common fallacies about insurance is it is all the same, and that price should be the deciding factor. This is a product of low-cost insurance providers who are often more interested in writing a policy than writing an insurance policy that truly fits the needs of the customer. The truth is, is that a cut-rate policy quickly loses its value once a claim happens and one finds out that some or all of the claim is not covered due to the policy being written in a weak way that focuses more or cost than coverage and needs.

If you are located in Tennessee and are looking for a local healthcare broker for your mid to large size business to help you with your medical insurance, employee benefits, and Human Resource needs, contact us today. At Chappell, Smith and Associates, we are happy to discuss with you the importance of choosing the right policy to fit the needs of your company and employees.

You can reach us by phone toll-free at 1-800-999-1109 or by using our contact form located at the bottom of the page.