4 Reasons to use a Preferred Broker with the ACEC Life/Health Trust
- May 14, 2020
- Posted by: Gus Altuzarra
- Category: ACEC Life/Health Trust
We might be a tad bit biased because we are a preferred broker with the ACEC Life/Health Trust. But based on our experience, here’s why:
1. Basic awareness of different ACEC programs
I know this might sound simple but there are four different programs available through the ACEC Life/Health Trust. Each program has hundreds of different plans. How do you expect a broker who manages one or two plans through ACEC to have an in-depth understanding of all the programs and plans available to your firm?
Most of the companies we bump into don’t even know there are multiple programs outside of the one, major, United Health Care option. This is most likely because their brokers also don’t know this. The reality is that our most competitive cases are with the Select or Advantage plan, and not the basic United Health Care option that most companies and brokers are familiar with. Lack of awareness here can leave hundreds of thousands of dollars on the table.
2. Long-term program continuity
If you’ve managed a health care program for an engineering firm for more than a couple weeks, you can appreciate when a program runs well. What does it mean when a program runs well? It’s all the basic things that happen smoothly without you having to move a finger. This same basic stuff can turn into a huge headache if not run well. You have better things to do than put out fires. When you have brokers that are not familiar with the ins and outs for a particular carrier or TPA, stuff can and will go wrong.
Not only do you want to save money and have good benefits, but you want the experience for you and your employees to be an enjoyable one. When you use a broker that is familiar with the insurance companies, TPAs, administrators and technology you can stay ahead of the ball and lean on their expertise for guidance along the way.
3. Tips & Perks
The ACEC Life/Health Trust plans offer a lot more than just premium savings and good coverage for engineering firms. There are a lot of resources that sometimes go unused because companies and their employees simply don’t know about them. For starters, did you know that every ACEC group has access to a very robust wellness program? Every employee and their spouse can earn $300 ($600 per couple) for participating. For a 60-person engineering company, this can equate to up to $36,000 per year.
This is free money if you know about it! In addition to the perks for the employees the same wellness program can save the company 5-10% per year in premiums because groups who have high participation get rated with a healthier/cheaper subgroup. You heard me right. For a 60-person engineering firm this could mean an additional $25,000-$50,000 on top of all the other savings thus-far. Not to beat a dead horse here but the list goes on. If you do not have a broker that knows about this stuff, in most cases, they go underutilized, leading to a poorer experience in the trust.
The ACEC Life/Health Trust is considered a large group product regardless of the size of the company. In traditional small group markets around the country rates are cut and dry but with the ACEC they’re not – they’re negotiable. When you use a preferred broker, who knows the underwriters, you can pull more weight than a one-off broker. If you need to get something done or make a special exception, the ACEC is much more likely to do so with someone they know as opposed to someone who is fleeting. This just boils down to human nature. We are more likely to make exceptions for people we know compared to strangers. Let us help you take control of your group health plan.
With all this said the choice is yours. Maybe you have a broker that you’ve been working with for 30 years that does a great job or maybe you are in dire need of a new one. In a lot of cases it can be difficult to let go of your current broker. All things considered it’s clear to us that using a preferred broker with the ACEC Life/Health Trust makes sense. We hope that you agree and regardless of what you decide we hope that you have a pleasant experience with the Trust and all that it has to offer.
By the way, having a broker does not cost extra. The commission broker receives is already built into your premiums. So if you do not currently have a broker you are missing out on complimentary services such as rate negotiation on your behalf, plan comparisons both inside and outside of the trust, and employee benefits software.
Get a Preferred Broker
If you are currently in the ACEC Life/Health Trust and do not have a broker, or would be interested in new broker representation, click the button below and fill out a short form, or feel free to call 877-840-4985.