How To Check An Insurance License For Group Benefit & Medical Insurance Brokers

Monday, March 25, 2024 20:51 Posted by Admin

When you entrust a broker or insurance agent to provide you and your business with a quality group benefit plan, your expectation should be that you’re dealing with a licensed professional with the commensurate experience and expertise to help guide you in making the right decision for you and your employees. On this page, we’ll explain why that’s important and how to do some basic research on your own to verify a license of a group benefit and employee health insurance broker.

The easiest way to check on the licensing status of an employee benefit insurance broker is to look them up in the state insurance database. Using this resource, you can look up a license by either a name search or by license number.

When you search for a license, you’ll find information on the current status of the license, either active or inactive, as well as the specific types of licenses the broker has, as well as their registration and expiration dates. Additionally, you’ll find company appointments listed, which indicates the specific plans and carriers that the agent is contracted to offer.

The company appointments can be an important resource because it reflects the plans that have been or are currently offered by that broker. Essentially, what this means is that if you’re offered a plan that is not on the list of company appointments, that could mean it’s the first time that particular plan from that carrier is being offered.

Other information you’ll find on the report includes certification letters and endorsed agents that can represent that agent and the plans they offer.

Determining Who Your Broker Is & What They Do

There’s a reason a lot of businesses rely on an agent or broker to help them navigate the choices and options of a group benefit plan. For one, it helps to have a professional on your side when unraveling some of the more complex language of a policy. Secondly, they are experts in helping you with everything from claims resolution to compliance and plan evaluation. In short, they should be a resource that helps you meet the goals of your business.

This is part of the reason it’s important to know who your broker is and what they can do for you. If you’re ever unsure of who your broker is, you can simply call them and ask (the phone number and contact information should be listed on the policy). If you’re unsure of what to look for in an employee benefit and group insurance agent, you can consult this checklist (PDF) from the Department of Labor.

Contact Taylor Benefits today if you’re considering offering a comprehensive employee benefit and health plan, or if you’re considering a change in what you offer. We are happy to offer FREE proposals to all interested parties and we have group benefits experts on hand to answer your questions! Call or email us today!

Written by Todd Taylor

Todd Taylor

Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.

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