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What You Should Know About Your Renewal

This is the time of year when many companies are gathering info and asking questions about their employee benefits plan. With the fourth quarter comes making a decision on their plan for 2023. Having a local, trusted broker can be a game changer. They will help you to find the right plan for your company. The one that is flexible to meet all employee needs, simple to navigate and mindful of controlling premium increases. Here are some important items you should know regarding your renewal:

Full network or smaller network? Insurance networks are groups of doctors, hospitals, etc. who you can visit to get the best benefits under your policy. Traditionally, networks were formed with the goal to have as many providers included as possible. Now there is a shift to smaller networks. Smaller networks mean that insurance companies can negotiate better discounts and hold providers to better quality of care. This translates to lower premiums for you, at times considerably lower premiums. To determine what network option would be best for your company, you can ask questions such as…Is there a premium difference for selecting an alternative network? Is the network limited to a certain geographical region? Can I offer both the full network and smaller network?

Ancillary benefits are a low-cost way to enhance your benefits package: Dental, vision, life and disability insurance can affordably beef up your employee benefits package. Employer-sponsored dental and vision plans can range from fully-employer-paid to fully-employee-paid. Either way, employees are looking for this coverage and by including them in your benefit plan, they get access to better benefits and premiums than if they were to get coverage on their own. Life and disability insurance give your employees peace of mind, knowing they have financial support in the event of unforeseen circumstances. The cost is relatively low while providing great protection.

Mental health coverage is more important than ever. There is a strong correlation between physical health and mental health and many people are accessing mental health care that never had before. To better understand the mental health benefits of a policy, ask questions like the following. Do visits have a copay or are they subject to the deductible? Are there any limits on visits? Does the insurance company provide additional mental health support in the form of an app or other tools? A truly healthy work staff will be receiving care in all aspects of their health.

Can Open Enrollment be simplified? Benefit administration and HR software can bring Open Enrollment and more, online. We love benefit administration software because it makes benefit and enrollment information accessible to your employees through the internet. For employers, benefit administration software makes it simple to set up and manage benefits, onboard new hires, stay compliant and offer employees one destination for all their human resources information.

For more information, contact ComPro at (402) 488-5100 or visit We also offer insurance plans for individual, family and Medicare. Located at 1040 N. Cotner Blvd. in Lincoln.

By Kayla Northup – Location Manager, MGA, Agent

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