Start Early
A review that begins months ahead leaves time to compare and decide. Starting several months before renewal leaves time to gather documents, review the plan, take it to market if warranted, and communicate any change to employees without pressure.
Early review keeps your options open.
Starting several months before renewal leaves time to gather documents, review the plan, take it to market if warranted, and communicate any change to employees without pressure.
Late starts compress every step and narrow choices to whatever can be done in a few weeks.
What an Early Review Looks Like.
An early review starts with the documents: the current plan summaries, the last renewal, a census and recent invoices. The reviewer then looks at claims patterns, plan design and the contribution structure.
From there, the options are narrowed: stay, adjust the plan, or go to market. With months of lead time, each option can be priced and explained.
Employees can then be told early, so enrollment goes more smoothly.
A few more questions.
How early is early?
Several months before the renewal date is a good target, though a review is useful at any time.
What if renewal is only weeks away?
You still have options. A fast review can show whether the renewal is reasonable.
How many months before renewal?
Three to six is common, depending on group size.
What does it cost to start early?
Typically nothing beyond your time. Ask any broker how they handle the review.
Will starting early change our rate?
The rate comes from the carrier. Early work gives you more options.
Related guides.
How to Switch Benefits Brokers in Michigan
Signs it is time, the six steps, and timing.
Do Not Wait for the Final Rate
Once a renewal is presented, the window to question it and to market the group can be short. Early reviews keep options open.
Mid-Year Is Possible
A switch does not have to wait for renewal. Carriers have their own rules, so the details depend on your carrier and 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.
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