Will changing brokers change my health plan?
No. Your carrier, the plan’s design, premium rates and effective date all stay as they are when you change brokers. Only the party servicing the account changes.
A broker change is not a plan change.
A broker change is an administrative update to who services the account. The policy, plan design, rates and effective date all come from the carrier contract and stay as they are.
Moving to another plan or carrier would be its own decision, judged on its merits.
What Stays and What Moves.
The carrier, plans, rates, effective dates and employees’ enrollment stay as they are. The thing that moves is who services the account: who answers questions, prepares the renewal and supports compliance.
A new broker may recommend changes to the plan, such as a different design, contribution or carrier. Those are separate decisions that you approve. The broker change itself does not make them.
It helps to keep the two decisions apart: first decide who you want to work with, and second decide what, if anything, to change in the plan.
A few more questions.
What changes when the broker changes?
Who services your account and handles renewal and employee questions.
Can the new broker change our plan without us?
No. Plan changes need the employer’s decision and carrier approval.
When would plan changes happen?
Typically at renewal, though some changes can be made mid-year where the carrier allows it.
Will we have a new renewal date?
No. The renewal date comes from the carrier contract.
Related guides.
How to Switch Benefits Brokers in Michigan
Signs it is time, the six steps, and timing.
Do I have to tell my current broker?
The employer signs a BOR letter; once it is processed, the carrier typically informs the incumbent broker. Review your broker agreement for any notice clause.
Can I switch brokers in the middle of the plan year?
Frequently, though each carrier follows its own process when accepting a change of broker, so the timing is up to your carrier.
Send us your renewal.
Share your renewal and we will report back on competitiveness, where we see openings and the five questions to ask your carrier. It costs nothing and you owe us nothing.
Your renewal letter
A summary of today’s plan
What the employer pays per tier
How many enrolled per tier
Four documents are enough for most groups, and six if you have 50 or more employees. Each extra request pushes the review out.
CFH is an independent benefits consulting firm. Our work covers the whole program: what it costs, how the plan performs, risk and how it is run.
Time for a different broker? Employees will not feel it, but you will. →