One of the biggest challenges that some employers face when preparing benefit packages for workers is the fact that certain industries rely more heavily on some benefits than others. Highly specialized workforces require certain types of coverage that most generalized staffs do not, which puts organizations in the uncomfortable position of having to negotiate with a limited number of carriers.
Insurance companies and benefit providers are aware that their services are sought after by certain businesses, so in many cases the cost of coverage is quite high. These niche benefits, such as child care, transportation reimbursement, disability insurance and flexible spending accounts, are important to secure but difficult to compare because fewer groups are competing for their business.
Employee benefit brokers are able to provide these benefits at a much lower cost than might otherwise be possible since they have experience and expertise that allows them to find the cheapest coverage from the most reliable carriers. Employers who worry that their staffs are too specific to allow for competitive benefit prices should look no further than benefit specialists.
