Looking for a better deal

Plan sponsors should evaluate costs and the combination of services insurers can provide
By Jeremy Pereira
|CHRR, Guide to Pensions & Benefits|Last Updated: 01/22/2003

There’s more to picking a benefits provider than the lowest price. Plan sponsors should evaluate not only costs, but the combination of services insurers can provide.

The first step is to clearly identify needs. Start by answering some basic questions. What do you like about your current provider? What do you dislike? The answers to these questions become the factors used to evaluate each insurer.

Plans can be evaluated in the following areas: