Do you have a Professional Group Benefits Advisor?

Many organizations use an insurance broker to manage their employee benefits program. Do you know the difference between a Professional Group Benefits Advisor and a Broker?

A professional group benefits advisor specializes in employee benefits and should be a valued resource to your organization.

A Professional Advisor will:

• Review how you run payroll to ensure your plan is tax optimized and T-4 boxes 14, 40 and 85 are all properly attributed.

• Review your HR processes and documents. The Professional will then help you add wording to ensure your process and documentation all properly support your benefit plan.

• Review your Corporate Liability Insurance to ensure you have the correct coverage to support a benefit plan.

• Be your first call if you have any questions outside of the ordinary.

• Give you the tools to help create a culture of appreciation of your benefit plan and what you do for your employees.

Please read on for additional differences:

Brokers vs Professional Group Benefits Advisor

Most Brokers will	A Professional Advisor will
Collect your data	Take on a consulting attitude to understand your goals, needs, employees and philosophies
Send renewals (a good one will present renewals)	Know the insurers will be a fit for your situation. The contract and suitability of the insurer are important to ensure long term viability of your plan
May help with some client issues	Provide education sessions for your employees and for your admin team to reduce any liabilities.
	Answer questions in a timely manner.
	Act on your behalf should any claims issues arise with the insurance company.
	At your annual review, discuss the trends and plans usage, present the renewal and suggest possible changes when appropriate.
	​Disclose your plan's internal fees in as much detail as possible at time of quote and at each renewal. (The fees plus your claims make up your premiums)
	Review your HR practices to ensure you are up to current benefit plan standards and have minimized related liabilities.
	And so much more....