We often discuss some of the more common challenges surrounding group benefits. While these problems are important, there are also a few lesser-known issues that are just as crucial to keep in mind.
Let’s take a look at four problems with group benefits you might have forgotten about:
Keep your contract current and up-to-date
If you think your insurance carrier will just pay any claim because you’re paying the premium, guess again. If the contract isn’t right, the carrier has the right to refund the premium and leave the claimant responsible for the uninsured liability.
Be honest and up front with your broker so the issues can be addressed in advance of any claim issues.
Attention to details matters
Some may think that benefits are no big deal. But, there are many legal implications today that hinge on the finer details, and these easily-missed details may surprise you.
Watching television commercials about how convenient it is to buy insurance online with no fuss — just click-click and you’re done — make us uneasy. That’s because there’s so much that you don’t know you’re missing when you remove personal interaction. This void can become a major issue when it’s time to file a claim.
We would never recommend the click-click approach and group benefits are the very same. In managing the little details, your broker can ensure there are no surprises that could be costly.
Your calendar is a valuable tool
There are certain events that need to be managed closely: salary changes, when to add a new employee, when to terminate benefits, and when to send out disability claim forms, to name just a few. Use your calendar to ensure you address all those to-do’s.
Missed deadlines can evolve into issues that have the potential to be very costly and could even cause your employees hardship. Try setting an event notification on your computer or phone’s calendar to remind you of these important items.
Value the role your benefits administrator plays
The whole experience of a group insurance plan centers on the abilities of the plan administrator. While the administrator may have many other functions, their role in the group plan will have the greatest effect on the employees’ benefit experience.
It’s for this reason we suggest that administrators take the time to familiarize themselves with the insurance carrier’s “online how-to” sections and tutorials, rather than attempting to figure things out on the fly. Outcomes will be improved for both your administrator and your employees. As busy as we all are, sometimes, taking the time now can save us from having to spend even more time and money in the long run.
For more information on how you can enhance your group benefit experience, please contact Rosemary Marsh at 905-777-9990, ext. 202 or via email at firstname.lastname@example.org. Our expertise is your advantage!