Should I get a second opinion before deciding?
A review can show whether your current plan is competitive before you commit. A second opinion looks at your renewal and the market without requiring you to change anything.
A second opinion costs little and shows a lot.
A second opinion looks at your renewal and the market without requiring you to change anything. It tells you whether the plan is competitive and whether your current service is typical.
If the answer is that all is well, you gain confidence. If not, you have specifics to act on.
What a Second Opinion Covers.
A second opinion is a review of your renewal and your plan by someone who is not selling you the current arrangement. It typically looks at how the renewal compares with the market, how much of the increase comes from your own claims, whether the plan design fits your workforce and whether the contribution structure is doing its job.
It does not require a change of broker or carrier. Many employers use it to confirm the renewal is reasonable, or to give their current broker specific questions to answer.
The most useful reviews end in a written summary you can share with leadership, so the decision is documented.
A few more questions.
Is a second opinion confidential?
Ask any reviewer how your information is handled before sending it. We treat employer data as confidential.
How long does a second opinion take?
It depends on the size of the group and how quickly documents arrive. Small groups can often be reviewed in days, and larger groups take longer.
What do we need to provide?
Usually the renewal, the current plan summaries, a census and recent invoices. Larger groups add claims data.
Will our current broker know?
Not unless you tell them. A review does not involve contacting your broker or carrier unless you ask.
Related guides.
How to Switch Benefits Brokers in Michigan
Signs it is time, the six steps, and timing.
Check the Timeline
Find your renewal date and any notice terms in your current broker agreement. Most employers have more flexibility than they assume.
Gather the Documents
The current renewal, the census, recent invoices, plan summaries and prior-year rates give a new broker what it needs to review the plan.
Send us your renewal.
We’ll tell you whether it looks competitive, where we see opportunity, and the five questions we’d put to your carrier. No cost, and no obligation to move anything.
The renewal letter
Your current plan summary
Contribution split by tier
Enrolled counts by tier
Four documents — two more if your group is 50 or more. Nothing else; every extra one is a reason to postpone.
An independent employee benefits consulting firm. We look at the entire benefits program: cost, plan performance, risk and administration.
Switch to CFH. Unhappy with your broker? Your employees won’t notice. You will. →