ResourcesSmall Business Health Care Hub by JPMorganChase
How to know you have the right broker
The right broker gives you access to a wide range of plans, helps negotiate better rates, and supports you with plan administration to simplify managing employee benefits.
Choose the right health insurance advisor for your needs
Brokers
BUSINESSES OF ALL SIZES
Brokers are experts who help businesses find and compare health insurance plans from various insurers. They guide you in choosing the best plan for your needs, assist with enrollment, handle administration, negotiate terms and support you with claims and renewals.
Why choose a broker?
Brokers are ideal if you need help comparing options from different insurance companies and managing your plan.
Consider the trade-offs:
ADVANTAGES
- Access to a wide variety of plans from multiple insurers
- Skilled in comparing options and negotiating rates
- Help with plan administration, including employee support
DRAWBACKS
- Plan quality and options can differ between brokers
- Brokers may receive incentives from insurers, like commissions
Fees
Brokers usually don't charge directly but may earn a fee or commission, paid by the insurer or your business. They must disclose any commissions to you, so ask about their compensation upfront.
Get started
- Find an insurance broker through your State Department of Insurance or through the SHOP Marketplace.
- Before engaging with a broker, check for any filed complaints using the National Association of Insurance Commissioners Consumer Insurance Search System or by calling your State Insurance Department.
- Learn what questions to ask a broker to ensure they're the right fit for your business.
See other health insurance advisor options
Assistance enrolling with a specific insurance company
- In-depth knowledge of specific insurance products to help design your plan.
- Personalized service and advice tailored to your needs.
- Strong relationships with insurers, potentially offering better rates.
Enhanced HR support for benefits administration
- Health, dental and other benefits usually available to larger companies.
- Manage payroll, withholdings and W-2 forms.
- Lower premiums and administrative costs.
- Reimbursement accounts and wellness programs.
Access to fully insured group plans with tax benefits
- Eligible small businesses can receive tax credits to lower the cost of coverage.
- Offers a range of standardized plans, making it easier to compare options.
- Access to support and guidance through the SHOP marketplace.
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