Employee Benefit Guidance & Compliance Solutions

Healthcare Renewal is a Great Time for a 360 Degree Review

Posted by on October 31, 2022 in Human Resources

January is a big month for healthcare renewal and a perfect time to start reviewing your broker relationship.

A strong broker / client relationship should be collaborative, a true partnership. At PF Compass we see ourselves as your business advisor and partner – not just a broker!

Before you meet with your current broker it is wise to do a full 360-degree review of your current relationship. Asking your key stakeholder for feedback is vital. It shows that you care and that you place employee well-being and your client’s success high on your priority list. Here are some key questions you should be asking.

Healthcare Renewal



  • Is our broker earning the fees we are paying them?
  • Do I have unnecessary “add on” costs?
  • How often do I hear from them?
  • How creative are they in providing options and alternatives to control cost without unnecessary disruption for our employees?
  • How responsive are they to our issues and concerns?
  • Do they protect us with compliance education and implementation?



  • How easy is does our current broker make it to onboard employees and manage claims?
  • Do they have a responsive support team to answer our questions and help with challenges?



  • Is your benefit plan being clearly communicated to your employees? Do they understand their coverage?
  • Are they getting the help and support they need to stay on top of their options and claims?
  • Does the plan make sense for everyone, or do we need to look at alternative options?
  • Are we taking as much stress as possible out of the complicated world of benefits?

Some telling statistics from 2021 surveys*


  • 60% of Job candidates consider benefits and perks as a top factor.
  • The top perk within that category is healthcare benefits (40%)
  • 80% of employees prefer an improved benefits package over a salary increase

The bottom line is that healthcare benefits are a huge part of a strong Recruit and Retain Strategy. With a carefully considered review and asking the right questions you are able to make an informed decision rather than sign off on a blind renewal.

Don’t let the healthcare renewal deadline be a last minute, hurried decision. Plan early for outcomes that will immeasurably benefit your business!

Brian Honan

Brian Honan | Partner
PF Compass Employer Guidance & Benefit Solutions

440 Route 22, E., Suite 190
Bridgewater, NJ 08807
Tel (973) 732-0697



*Sources: LinkedIn / Glassdoor

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