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Hi, this is Connie Chiara with Corporate Benefit Partners. It is not a good idea to work with two benefit brokers at the same time. Here’s the reason why. In our Florida marketplace, we only have five primary health insurance carriers. When an RFP comes in from multiple brokers, the insurance carrier will issue the exact same proposal to each broker.

Then, they cease negotiations as to not play favorites to one broker over another. We are always in the strongest position to negotiate the best possible price and terms when we have more than one insurance carrier competing for your business. If the marketplace is frozen because of multiple brokers, we’re just not able to do our job effectively.

As an aside, if a broker ever tells you that they’re able to get better pricing from a carrier over a competing broker, they’re wrong. They are not being completely honest. Insurance carriers do not provide favorable pricing. Have a question about how the insurance brokerage system works? Call me, let’s talk benefits.