10 things a benefits broker can take off HR's plate

As a human resources (HR) leader, you're already stretched thin, and the complexity of employee benefits shouldn't add to your stress. With so much on your plate, the last thing you need is for benefits confusion to pile on more stress — or worse, drive your employees to start looking elsewhere. Surprisingly, 49% of employees consider leaving their jobs if they're confused or dissatisfied with their benefits. That’s a risk businesses can’t afford to take.

This is where a benefits broker steps in. A benefits broker can relieve the burden by managing and optimizing all things related to your company’s benefits. With a great broker, you can spend less time confused about benefits and more time supporting your employees.

Here are 10 things a top-notch broker can take off your plate.

1. Crafting custom benefits plans

No two people in your office are the same, so why should their benefits be? That’s where a broker comes into play, customizing packages so they truly fit your team. A good HR broker is like a chef in a top-tier restaurant, but instead of serving food, they’re serving customized health plans, wellness perks, and more.

Your broker will get to know the ins and outs of your team — what they need, what they love, and what can be improved. Maybe it's a dental plan or a gym membership. Whatever it is, they’re on it. So you can kick back a little, knowing your employees' benefits are as unique as they are. No cookie-cutter plans here!

2. Making renewal time a breeze

Dread renewal season? Let's flip the script this year.

Imagine it's that time again, but everything’s smooth sailing instead of the usual scramble. That's what happens when your broker steps and takes a proactive approach to the renewal process!

Your broker won't just remind you when deadlines are coming — they’ll have all the paperwork ready well ahead of time. They’ll talk through the options with you, making sure you understand every recommendation so that you can make informed decisions without the pressure. And if you have questions, they’re there, ready to answer before you even ask.

3. Easing through open enrollment

Open enrollment is a crucial time of year when you and your team get to pick your benefits plans. It's a big deal because it sets up your healthcare coverage and other perks for the next year. But let's be honest: Choosing the right provider can get tricky. That’s where your broker shines. They transform this potentially confusing period into a seamless experience.

Your broker will kick things off by explaining all the available options, from health to dental to retirement plans. They'll set up easy-to-digest information sessions and provide detailed comparisons to help each employee understand their choices. Plus, they're on call to answer any questions that pop up, ensuring that no one feels unsure about their decisions.

For example, your broker might help an employee decide between a high-deductible plan with lower premiums or a more comprehensive plan if they expect higher medical expenses. Your broker should ensure a smooth enrollment period, so that you can make informed choices with confidence.

4. Taking care of the paperwork

Dealing with employee benefits packages can be one of the most time-consuming commitments for any HR department. But it doesn't have to be your burden to bear. A broker can help free up your time by setting up and filling out all the paperwork, so you can focus on other crucial parts of your job.

From enrollment forms and benefits elections to claims processing and compliance documents, your broker is there to handle it all. They ensure every form is filled out correctly and submitted on time, reducing the likelihood of errors that can lead to delays or issues down the road. They also manage all the documentation needed for things like adding new employees to plans or adjusting coverage when life changes happen.

By taking care of the paperwork, your broker frees up your HR team to focus on more strategic initiatives, like employee engagement and retention. You won’t need to drown in forms and filings — your broker has this covered, allowing you to reclaim your time (and your desk space).

5. Keeping up with compliance and regulations

Staying compliant with the ever-changing benefits regulations can feel like a full-time job. That’s where your broker steps in, acting as your compliance co-pilot. Your broker is aware of all the legal requirements and makes sure that your benefits plans follow every regulation.

Whether it’s updates to the Affordable Care Act (ACA), the Employee Retirement Income Security Act (ERISA), or Internal Revenue Service (IRS) regulations, your broker’s job is to stay up to date. They'll then proactively manage compliance audits, generate required reports, and offer training sessions for your HR team to help you avoid fines and legal issues.

6. Answering employees' questions anytime

The best communication plans meet employees where they are. 

Your broker is there to make sure everyday inquiries are handled right away. They act as a readily accessible resource for your team, available to clarify benefits coverage, help with claims submissions, or explain policy changes during regular business hours. This support is critical because when employees don’t understand their benefits, they often don’t use them or crowd HR’s inbox with questions. 

One of the most accessible ways to answer employee questions is through an app as most have their phone on hand at all times. Check with your broker to see if they offer any special communication services, such as an app (like Nava’s, available free to our customers!).

7. Dealing with vendors

Dealing with benefits vendors can be difficult, especially when you don’t have a strong relationship with them and there’s a flood of options in the market. The best brokers act as a bridge between your business and its benefits vendors, helping you vet the best fits, and smoothing out any vendor relationship.

Brokers should handle all the heavy lifting of vendor management, from negotiating terms to managing contracts and resolving service issues. This proactive approach keeps your benefits offerings competitive and responsive to your employees’ needs. Plus, your broker’s strong vendor relationships mean they can often secure terms and rates that might not be available otherwise.

8. Analyzing data to find solutions

Your broker plays a crucial role in optimizing your benefits plan through careful data analysis. By examining how your employees use their benefits, your broker can pinpoint inefficiencies, identify popular options, and suggest necessary adjustments.

For example, if the data shows that many employees aren’t using a particular benefit they're paying for, your broker will recommend reallocating your resources to more popular services or launching an educational campaign to boost awareness and usage. They can discover potential cost savings by identifying underused resources that could be scaled back or renegotiated. This strategic use of data guarantees that your benefits package suits your team’s needs.

9. Proposing cost-saving strategies

A good broker is an expert at finding ways to lower benefits costs without cutting corners on quality. The right broker can use their experience to come up with smart, cost-effective strategies to keep your benefits affordable while delivering value.

Your broker can help by proposing alternative plans that offer similar benefits at a lower cost. Options such as switching to plans with different deductible options or introducing health savings accounts (HSAs) could provide tax advantages to both employees and the company.

Your broker can also  leverage networks to negotiate with providers through cost-containment strategies such as direct contracting or reference-based pricing, and/or identifying more affordable vendors. They may also recommend implementing wellness programs to reduce healthcare costs over time by improving employees' overall health.

10. Educating employees about their benefits

Having the best employee benefits package won’t do much if your employees don’t know about it. The best brokers will make sure all of your employees understand their benefits and feel comfortable maximizing their package. They conduct workshops, provide detailed FAQs, and even offer one-on-one sessions if needed, all designed to demystify the details of each plan.

Your broker also makes sure that educational materials are accessible year-round, not just during open enrollment. This ongoing education helps employees make informed decisions about their healthcare and other benefits throughout their tenure at the company.

Securing the right broker for your benefits needs

The ideal broker acts as a strategic partner, simplifying the complexities of employee benefits while making sure that both you and your employees gain the most value. A good broker relieves your HR department of this heavy burden, freeing you up to focus on what truly matters, your employees.

Not sure how to find the right benefits broker? Download our guide to finding the ideal benefits broker for your organization.

Get helpful insights from HR leaders

‍Check out our recent webinar with SHRM and Whitney Stuckey from the Paskin Group as she shares innovative tips for transforming your benefits plan, saving money, boosting employee engagement, and maximizing your broker’s value.