Happy With Your Broker? A Second Opinion Still Pays.
A second opinion is not a vote of no confidence. It is a check that everything holds up, and we will tell you plainly if it does.
Plenty of employers are content with their broker. A second look costs little, and if your program is sound you hear it from someone with nothing to sell you but the answer.
What Is Actually True About a Second Opinion
What Is Actually True
- Being happy with a broker and having a program that has been examined are different things.
- A second opinion looks at the renewal, the plan design, the compliance calendar and what you pay against what is available.
- If everything holds up, that is a useful answer, and it makes the next renewal conversation easier.
- If something does not hold up, you find out while there is time to act on it.
What CFH Does About It
- We read your renewal and plan documents and tell you if everything holds up.
- We do not ask you to leave your broker to get the read.
- We put the findings in writing so you can keep them and use them.
- We say plainly when the answer is that your program is fine.
What a Second Opinion Looks At
Four places a second look tends to pay off, even when nothing seems wrong.
A renewal can look reasonable without being compared to anything, so no one knows whether it is good.
What we do about it: We read it against what is available and tell you where it stands.
Plans and contributions drift from what was intended, and nobody revisits them.
What we do about it: We compare your design and contribution levels with what employers like you offer.
Filings and notices can lapse quietly in a well-run program.
What we do about it: We check the calendar and the notices against what applies to you.
Enrollment and billing errors surface as claims problems, usually at a bad time.
What we do about it: We look at how eligibility moves from HR to the carrier and whether the files agree.
Questions Employers Ask About a Second Opinion
Do We Have to Leave Our Broker?
No. A second opinion is a read of your program, not a change of broker, and it does not require you to move anything.
What if Everything Holds Up?
Then we tell you so. That is a useful result, and you have it in writing for the next renewal.
What Do We Need to Send?
Your renewal and a plan summary are a good start. We tell you if we need anything else.
A Second Opinion: The Detail
A second opinion is not a vote of no confidence. It is a check that costs you little.
Confirm the Renewal Is Fair
We compare the renewal to alternatives and what a build-up should look like. A renewal can look reasonable in isolation and still be out of line once its drivers are laid out. Seeing the increase broken down against what the market offers for your group gives HR something solid to bring to a decision.
Look at Design and Compliance
We check plan design and compliance items that may have been overlooked. Plan design choices and required notices or filings can drift over time without anyone noticing, so a fresh look can surface items worth raising with your current broker or counsel. Ask what was checked.
Your Broker Stays Your Broker
A second opinion does not change who represents you. The review is information you can share with your current broker, use in your next conversation with them, or keep on file, and it does not by itself change who represents you. Ask any questions you like.
You Decide What to Do with It
If it confirms your plan, good. If it finds an issue, you decide. Either outcome is useful: a confirmation gives you documented comfort, and a finding gives you specific questions to take back to your broker or carrier. The next step stays with you.
Common Questions About a Second Opinion
Will a second opinion upset our broker?
Many employers share it openly. It is your decision.
Do we have to leave our broker?
No.
What do you review?
The renewal, plan design, contribution strategy, and compliance.
How long does it take?
It depends on the documents and your renewal date. We will give you a timeline once we have what we need.
Is there a cost?
We will explain our approach up front.
What if you find nothing wrong?
We will say so.
What if you find something?
We explain it and the options.
Do you need our broker’s permission?
Generally not for your own documents.
How do we start?
Send us your renewal.
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.
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