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A health insurance broker helps clients evaluate, compare, and select coverage from available insurance carriers. For employers, that can include reviewing group health plans, contribution strategies, funding arrangements, renewals, and employee communications. For individuals and seniors, a broker can explain plan features, provider networks, prescription coverage, and expected out-of-pocket costs so coverage choices better match healthcare needs and budgets.

Health insurance brokers typically receive commissions from insurance carriers after a policy is placed and maintained. The commission structure does not prevent a broker from helping clients compare available options, assess plan designs, or address ongoing service needs. Franklin Benefits Group also provides market analysis, renewal support, claims assistance, and guidance throughout the year rather than simply presenting an initial quote.

Yes. Employers can generally appoint a new broker during the plan year by completing a Broker of Record letter, without waiting for the renewal date or changing the existing health plan. This allows Franklin Benefits Group to conduct an in-depth market analysis, obtain quotes from multiple carriers, and provide ongoing advisory support while your current coverage remains in place.

A broker can help compare fully insured plans, level-funded arrangements, self-funded plans, reference-based pricing strategies, high-deductible health plans paired with HSAs, and ICHRAs. Each approach has different cost, risk, administrative, and flexibility considerations. A careful comparison should consider workforce size, claims experience, contribution goals, network access, compliance requirements, and the employer’s tolerance for financial risk.

With a fully insured plan, the employer pays a set premium and the carrier assumes claim risk. With a self-funded plan, the employer pays employee claims directly and assumes more financial risk, often using stop-loss coverage to limit large losses. Self-funding can offer greater design flexibility and potential savings, but it requires careful risk management and administrative oversight.

Yes. Medicare guidance can include comparing Original Medicare, Medicare Supplement plans, Medicare Advantage plans, and Part D prescription drug coverage. A broker helps review doctor and hospital networks, medication formularies, prior authorization rules, monthly premiums, copays, deductibles, and annual out-of-pocket exposure. Personalized reviews are especially useful when healthcare needs, prescriptions, or travel arrangements change.

An Individual Coverage Health Reimbursement Arrangement, or ICHRA, lets an employer reimburse employees for eligible individual health insurance premiums and medical expenses up to a defined amount. Employers may vary reimbursements across permitted employee classes, such as full-time, part-time, seasonal, or geographic groups. ICHRA administration requires attention to affordability, notice, substantiation, and employee-class rules.

Employers should gather current plan summaries, renewal information, employee census data, contribution amounts, claims or utilization information when available, and their primary benefits goals. Individuals should bring a list of preferred providers, current prescriptions, expected care needs, and budget priorities. This information allows a broker to compare coverage based on total value, not premiums alone.