When you’re running a business, few things are more sensitive than your employee benefits, especially health insurance. If you’ve been feeling like your current insurance provider just isn’t cutting it anymore, you’re not alone. According to a 2024 study by Mercer, 63% of employers will actively evaluate new insurance providers due to rising costs, administrative burdens, or inadequate support (Mercer, 2024).

But making the switch doesn’t have to mean chaos for your HR team or confusion for your employees. With the right approach, the transition can be nearly seamless.

At MHG Insurance, my colleague Jetta Gadea and I help companies switch insurance providers with confidence. Here’s how we recommend doing it.

Why Companies Switch Insurance Providers

You might be considering a change because your current insurance provider:

● Doesn’t offer better value or flexibility

● Has poor communication and slow support

● Has limited plan options for your diverse and growing team

And you wouldn’t be alone in this. A report from the Kaiser Family Foundation found that health insurance premiums for employer-sponsored plans increased by an average of 7% in the past year (KFF, 2023). That’s a tough hit for small and midsize businesses trying to control costs.

When you’re paying more and getting less, it’s time to explore alternatives.

How to Change Insurance Providers Without Disrupting Your Team

1. Talk to Your Insurance Broker

Your insurance broker is your best ally and should be your first stop. Share what's not working, whether the coverage, a weak provider network, high costs, or something else. A good broker will try to negotiate improvements with your current provider or explore alternative options that may be a better fit.

Tip: Don’t wait to share these concerns with your insurance broker at renewal. Raise concerns as they come up so they can be addressed.

2. Start Early! Ideally, 90 Days Before Renewal

If you’ve decided you want to see what other options are available, give your insurance broker enough time to collect quotes and compare options. 90 days prior to your plan renewing is a good guideline. Rushing the process can lead to lapses in coverage, poor onboarding, and frustrated team members. At MHG, we create custom transition timelines so nothing falls through the cracks.

3. Lean on Our Expertise to Navigate the Market

The insurance market is constantly evolving, and not every option is straightforward. That’s where having a team like ours comes in. We listen to your business goals and employee needs, then research and present plan options that:

● Keep costs predictable

● Offer flexibility in coverage levels

● Are accepted by the doctors your team uses most

This high-touch service means you won’t spend hours comparing apples to oranges. We do the heavy lifting and explain everything in simple terms.

4. Communicate With Your Team Early and Often

According to a 2024 SHRM survey, 52% of employees say they are confused by their benefits options (SHRM, 2024). To avoid frustration or anxiety during open enrollment:

● Hold short info sessions or Q&As with your team. We can help or even run these for you.

● Provide comparison charts to explain what’s changing

● Have an expert on-hand (like one of us!) to answer questions in real time

Clear, confident communication helps your employees feel supported and informed throughout the switch.

What to Look For in a New Insurance Provider

Not all insurance providers are created equal. When evaluating new options, make sure they offer:

● Plan flexibility that matches your team’s real-world needs

· Strong provider network that ensures your team has access to a wide range of doctors and hospitals, wherever they are, especially if you have employees working remotely or employees in multiple states

● Technology tools for easy enrollment and management

● Compliance and regulatory support to help you stay compliant and up to date on regulations

· Financial strength and a good reputation for paying claims and providing good service

● Proven experience with businesses of your size

At MHG, our team is your team. We understand that a 20-person business doesn’t need the same solution as a 200-person one. That’s why we customize everything, from plan structure to rollout strategy.

Don’t Forget: Compliance and Transition Support

Changing insurance providers isn’t just about choosing new coverage. You also need to manage:

● COBRA notifications

● ACA compliance

● Plan terminations and new plan onboarding

A good insurance partner doesn’t leave you to navigate these steps on your own. Our team guides you through each step and works closely with your previous provider to ensure that nothing is missed.

How MHG Insurance Makes It Easy to Switch

With over three decades of experience helping businesses worldwide, MHG Insurance understands the complexities of employee benefits. We’re a full-service brokerage, which means we:

● Work for you, not the insurance company

● Build personalized plans based on your budget and goals

● Handle the details so you can focus on your business

Changing insurance providers might seem intimidating, but it doesn’t have to be. When you partner with MHG, you get a team of advocates who guide you every step of the way.

Whether you're in yachting, marine, or simply a U.S.-based business looking to improve your benefits, we are here to help and make the process easier.

Ready to explore your options? Let’s talk.

Sources

● Mercer. (2024). Health & Benefits Strategies for a New Era.
https://www.mercer.com/en-us/insights/total-rewards/employee-benefits-strategy/2024-benefit-strategies-report/

● Kaiser Family Foundation. (2023). 2023 Employer Health Benefits Survey.
https://www.kff.org/report-section/ehbs-2023-summary-of-findings/

● Society for Human Resource Management. (2024). SHRM Employee Benefits Survey.
https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/2024-benefits-survey.aspx

Today, employers are faced with more challenges than ever before regarding rising health insurance costs and the responsibility to provide employees with affordable coverage. The present climate among the health insurance industry doesn’t help, since no one really knows what the future holds regarding pre-existing conditions, tax penalties, etc. Luckily, many of these question marks don’t apply to group health insurance, however that doesn’t change the fact that rates are continuing to increase. If your company is facing a group health insurance renewal, be sure to follow these tips to help with a smooth renewal process that keeps all parties happy.

1. Know Your Benefits

   When dealing with an impending renewal, it is important to know the details of your current plan, which can be difficult for someone who is not familiar with insurance lingo. If you aren’t familiar with the benefits you have, then it will be hard to follow tip #2. It’s also important to mention that if you are having difficulty understanding certain aspects of your current plan, reach out to your agent so that you can become totally familiar with it.

2. Plans and Rates Change

   Insurance plans and rates are changing more now than ever before. One of the issues this presents is that someone who wasn’t completely familiar with their plan before, won’t recognize the changes being made and the impact it will have on the group. Do your research and learn all the small details that will be changing. Also, just because your insurance carrier is changing your plan, doesn’t mean you must stick with what they give you. You can shop around plans and compare details assure all your coverage needs are being met and to assure that you aren’t exceeding your budget.

3. Listen to Employee Feedback

   Listening to your employees is an important part of the process. While employees may demand the best coverage available, there are certain aspects that may stand out amongst the group such as lower co-pays and deductibles. After all, the purpose of offering a group health insurance plan is to create an attractive work environment that promotes a happy, dedicated, and workforce.

4. Look for Wellness Programs

   Many of the insurance carriers now have programs in place that promote wellness amongst the group. These programs typically require employee participation but may reimburse you a percentage of the premium you pay based on the level of employee participation. There are also incentives for employees to participate as there are online rewards stores that employees can spend the points they earn. Some examples of ways to earn points include going to the doctor, exercising, and taking online health quizzes.

5. Consider Gap Insurance

   While plans with higher deductibles and/or higher copays can effectively keep health care costs in check, conscientious employers may be concerned that these HPHC plans will leave their employees facing financial burdens they will be unable to meet. Gap insurance plans give employers a way to provide their employees with a financial safety net. Having a gap insurance in place could very well provide your employees with better coverage than a top-notch insurance plan, while also saving you money by not paying high premiums for said plan.

Sometimes there are things in your plan that you don’t understand, or words that you have never heard before. When going through the renewal process it is important to have regular contact with your insurance agent for all your needs to be met. Your well-being is important to us, and part of that is making sure you are properly taken care of. Here at MHG, we have a team of experienced insurance specialists that can offer advice, guidance, and assistance on what would be the best fit for your employee group based on your budget. You may find an article I wrote titled Small Group Insurance Options Are the Way to Go helpful.

Visit mhginsurance.com for more information on Employee Benefits or click or call us at 954 828 1819 for more information on how we may be able to assist your company.

 As a successful business, you know how important it is to attract and retain top employees. Unfortunately, that is something that we have found to be a major issue among businesses, especially where unique skills and qualifications are required which limit the potential to replace workers. The good news is there are several objectives you can layout to help change the culture within your company, and create one that encourages employee performance and retention. One that you should focus on is employee benefits. Having a proper strategy regarding employee benefits can help your company in several ways. While initially it may seem like offering benefits can add another expense, you should be looking at it as being an investment, here’s why.

Stand Out from the Pack

According to MetLife 59% of employees say that health and wellness benefits are important for increasing loyalty to their employer. Employees who feel as if they are well taken care of will go above and beyond to pay it back to the company they work for. While employees should be working smarter, not harder, the extra effort can go a long way into the success of your business.

Another way that having good benefits for workers will change your business for the better is by attracting the top employees in your industry or field. The top talent comes at a top price, and while you may be willing to pay them a handsome salary, they often look for more than what is on their pay stub.

Investment not Expense

Good work place benefits will help to keep dedicated workers and the top talent in your organization. They will be less inclined to go look elsewhere for something they aren’t getting, which lowers your turnover and training expenses. According to Zane Benefits, The cost of employee turnover is estimated at the equivalent of 6 to 9 months’ salary. Other studies predict that cost is even more, as high as 2x their annual salary. So instead of looking at it as creating more expenses for business, look at the bigger picture of how your overall expenses can even out while your company gains a good reputation and builds a loyal and dedicated work force.

Promote Wellness

Many of the insurance benefits that companies are implementing include various wellness programs. These programs promote wellness amongst your employees and their families, and reward them for taking the steps necessary to ensure peak health. Another aspect that should be noted, the right benefit mix can assist to lower absenteeism due to illness, and increase productivity. If your workers aren’t provided with good insurance, they are then left to take matters in to their own hands. Therefore, if they aren’t encouraged to visit the doctor or take care of themselves, it may result in less people showing up to work.

Another great benefit of instilling a wellness program is that it can often save your company money when it comes to premiums. If a certain amount of your employees buy into the program and participate, you may reduce the overall cost. The two component programs (life style management and disease management) reduced employer’s average health care costs by about $30 per member per month.” That can quickly add up to several thousands of dollars in savings per year!

It should also be known that employees who participate in these programs also receive benefits. Based on tasks they complete such as annual physicals, exercising, etc., they earn rewards points that can be used to purchase items such as gift cards from a rewards website.

We Can Help

Having dedicated and talented workers who aren’t looking for greener grass somewhere else is a recipe for a successful and thriving business, and we can help! If you are the decision maker of your company and are curious about insurance benefit packages including small group insurance, contact us at 954-828-1819 or visit our mhginsurance.com to learn more about our insurance expertise.

If you are a small business owner or an employee of a small business (with up to 50 employees) and you have watched the news lately, read a newspaper or browsed the internet, it is very likely that you have seen the numbers and increases that have occurred regarding the Affordable Care Act health insurance plans for 2017.

Open enrollment for individuals and families began Nov 1st, and people around the country are scratching their head wondering why their insurance prices are increasing again and again. In addition to rising costs, people are also learning that there are less and less plans, and some are being forced to change doctors who they have had a relationship with for many years due to changing networks.

If you’re a small business that doesn’t offer an employer sponsored plan, chances are you should consider group health insurance, today.

More Affordable

For one, many businesses that are less than 50 employees give their workers money toward insurance every month, however the employee must find their own insurance. With the state of individual health insurance plans, that idea just may no longer be feasible. Starting a small group plan could lower employee’s insurance costs depending on the plan you select, and how much your employer contributes.

More Choices

Another aspect we have seen is that there are fewer individual insurance plans to choose from. A few years ago, there were dozens of different plans and multiple companies you could choose from, whether you wanted a HMO (Health Maintenance Organization) or PPO (Preferred Provider Organization). With group insurance, plan options are many, and as a new group, open enrollment means that your group can enroll anytime throughout the year without the restrictions one has with Individual coverage.

The Benefits of Offering Employee Benefits

If you are the decision maker of your business, you could be thinking “What benefit do I have offering insurance to my employees?” While you are required to pay 50% of your employees premium if you offer a group plan, there is a chance you are already giving them money to find their own plan. Why not provide quality benefits and not pay more than what you may be providing your employees to get their own insurance?

Another aspect to consider is that happy and healthy employees are important to the success of your business. Making this change could create a loyal workforce who are more willing to go above and beyond for their employer.

We Can Help

If you are the decision maker of a small business and would like to learn about Employee Benefits options for your team, please contact us at 954-828-1819, or visit mhginsurance.com. Our team of insurance specialists are here to help and answer any questions you have.