NO, in fact using a qualified broker to assess your needs for Medical, Dental, Life and other Insurances can save you thousands by helping you select the plan that will provide the best value. And, for individual and small group (50 and less employees), the broker compensation is already built into the carrier rates.
GFBB provides you with assistance in selection and implementation of your policy. If you go directly to a carrier, you will not have an advocate to assist you in making the right purchase or settling claims issues. Because insurance is complex and insurance companies will often sell you a plan that doesn’t match your needs, a broker can level the playing field by providing expert advice and in many cases negotiate better rates.
We will impartially shop all the carriers for you, negotiate premiums where possible, educate you on the use & application of your plan, and assist in settling claims issues that may arise. We become your advocate, and will help find ways to save money on taxes. We offer many solutions that allow you to buy benefits on a pre-tax basis!
Although it is expensive to have a physical location and many companies are abandoning them, we believe it is important for you to have a place to visit should you desire face to face assistance. We are also happy to travel to your place of work. Should you need to, we can hold open enrollment meetings in our office conference room. We know that a physical presence represents stability, reliability and availability.
The process of changing brokers is painless. If you elect to use GFBB’s services, we will have you sign a short “Broker of Record” change form on your letterhead which we will process with the carriers. They will then assign us as your Broker, giving us access to all your policy information, which will help us to compare and shop at renewal.
GFBB Benefits is a full service employee benefits and retirement planning firm. Please see our home page for a comprehensive listing of our Benefits Consulting Services and Financial Planning Services.
It can be hard to know if your broker/consultant is giving you the best advice. While the California State Department of Insurance regulates insurance brokers, the licensing requirement doesn’t ensure that you will receive great advice. We believe a good advisor is ALWAYS working to improve his/her knowledge and is totally dedicated to serving the client’s interests. You should ask as many questions as you desire to be assured that your consultant is both current on legislative requirements and product updates. We recommend that you ask questions like, “Where do you get your information about what’s happening?” and “Can you tell me the last book or training you participated in to better yourself in the field of insurance?” You can tell a great deal by the type of responses you get to questions like these.