The Benefit Doctor aims to inspire employers to take a proactive approach to employee benefits packages. As employers conduct mid-year financial and HR assessments, The Benefit Doctor calls on business leaders to reevaluate their employee benefits strategies and question whether their brokers and plans align with their organizational goals. The company warns that waiting until the fourth quarter to make plan adjustments can limit decision-making power and perpetuate unnecessary costs and misaligned coverage.
Since its founding in 2020, The Benefit Doctor has been urging brokers and employers to examine the way employee benefits plans are structured and marketed. After working many years in the benefits industry, Zak Harlow, CEO of The Benefit Doctor, has seen how often these packages miss the mark, providing little benefit to those they are meant to serve. On a mission to improve benefits for every employee, Harlow is working to change how employers approach employee benefits packages, starting with mid-year reviews.
With open enrollment not set to begin until November, benefits are not top-of-mind for many employers. However, Harlow believes they should be.
“June isn’t just halfway through the fiscal year. It’s halftime. And if you want to win the game of benefits, now is the time to analyze your game and change the play,” stated Harlow. “When you do your mid-year review, start asking the tough questions. Are your benefits working for you? More importantly, is your broker?”
Industry-standard compensation models for insurance brokers often involve commissions, bonuses, and overrides that incentivize brokers to remain loyal to specific insurance carriers. According to The Benefit Doctor, these practices can go undisclosed to employers, leaving businesses with higher costs and benefits that don’t deliver in the areas where their employees really need them.
“Mid-year reviews are the perfect time to take action,” said Harlow. “This is your window. Use this period to evaluate plan performance, investigate alternative funding methods, and consider new strategic partners. Right now, you have time to assess your plan design and your benefits partners without a renewal deadline hanging over your head. Partnering with an employee benefits broker fully aligned with your goals will set you up for success now and in the future.”
To learn more about how The Benefit Doctor is working to change employee benefits packages or to schedule a consultation with one of their benefits specialists, visit www.TheBenefitDoctor.com.
About The Benefit Doctor
The Benefit Doctor helps employers and employees save $1 BILLION in healthcare spending through their proven 5-step treatment protocol. With a mission to be a reliable employee benefits broker, they specialize in making employee benefits an actual benefit and reducing overall spend on healthcare.
