This tool provides an overview, key risks, expected key controls and questions to consider for the health insurance broker/agent process.
When an organization decides to offer group health insurance to their employees, it must complete a process to select an insurance company/provider and most organizations will use an insurance broker or agent. An insurance broker does not represent any one insurance company and instead will represent the buyer. Insurance brokers will search the health insurance marketplace for the insurance company that offers the best fit to their client’s needs. Whereas an insurance agent is an individual who works on behalf of the insurer.