What does an employee benefits broker do? They help companies secure benefits for their employees. I have been suspicious of them because I thought they wanted money. Well, they get paid by the insurer so mostly they just want business.

You could go straight to the insurers to get benefits for your employees but do you really want to do all that work? And will you get a quote from each of them? You might not if you are in a small company.

Ly Siu is an HRBP, benefits broker, and benefits consultant. She helps her clients secure benefits packages and she consults on difficult cases or when there are questions.

Full disclosure: I didn't realize there was a difference between a benefits BROKER and a benefits CONSULTANT at the start so I used those titles interchangeably. Ly clarifies the role each at 8:18!

0:00 Intro
0:58 What does a broker do?
1:30 Can you go straight to the insurer?
2:05 How does a broker get paid?
3:15 Is the broker incentivized to promote one insurer over another?
3:58 How to address suspicious people (like me)
5:10 Aren't the benefits plans the same?
6:04 What is plan design?
6:38 What does a benefits administrator do?
8:05 The benefits that you get through a broker
9:24 You CAN mix between insurers but...
10:44 How to analyze an existing plan
12:43 After the package is sold
13:50 How to get good service from the insurer
15:12 Advice for internal HR people

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Find me (Andrea) at www.thehrhub.ca. I'm an HR consultant as well as YouTuber and provide a wide range of consulting support.

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