We all know times are tough and looking for a way to cut expenses is a continuous battle! In order to help you save money we are advising you that your employee benefit plan can be reviewed any time between plan anniversary dates and cancelled with a 30 day notification to your current carrier.
We are advising you of this because prospective clients are telling us they have renewed their plan and are committed to the insurance company until the next renewal date. Is this a misunderstanding or are agents telling employers they are committed to the plan for the full year?
Your premium rates are guaranteed until the next renewal date but a carrier cannot force you to keep a group benefits program for full twelve month period.
Why change insurance companies? If you have poor service, your cash flow has decreased and now pricing becomes an issue, employees are spending too much of their work time dealing with claim problems, you want to add a benefit and your present carrier says it can’t be done because you do not have enough employees. The list is long!!
If you have a benefit plan you would like a review of or you know of someone who is having issues with their current plan contact us and we will help them.