Choices are great, right? With choice comesfreedom but, with freedom, comes accountability. In the context ofinsurance, choices often provoke anxiety or fear because people areworried they'll make the wrong one.

It's no different for employers. They want to make the rightbenefits choice for employees but often don't have the expertisethemselves to weigh all the options. This is where brokers comein.

Some key questions a broker should ask: 

• What is the employer's objective for offering benefits?
• What would other employers offer for benefits?
•  What do the employees want? Or need?
•  How much is available to spend on insurance?

Few small to medium-sized employers can offer everything sowhere do they begin? Well, to start, medical insurance andretirement plans are likely the highest priorities for everyone.Those should be the first order of consideration. But what comesnext?

Studies show employees place their next highest value on dentalbecause they regularly use that benefit and, hence, find value init. But, as you know, the underlying reason for insurance is toprotect assets, guard against catastrophic risk and help financialsecurity.  While employees might want dental or vision,it's far more likely that they'll need life and disability to bebetter prepared and more confident.

Think about it. Can most people live without a paycheck forthree months or longer during a period of disability? Are they setup to financially support their dependents following an unexpecteddeath?  For most, the answer is probably no to both. Afterall, people don't usually plan to become disabled or die, which iswhy it's hard for them to see the value.

Understandably, most employers providebenefits as a means for attracting and retaining talent, to keepemployees happy, productively at work and more prepared for theirfuture. It's entirely appropriate for an employer to offer thebenefits that are effective in attracting talent or that employeeswant (such as dental). But, how do they prioritize and strike theright balance?

The good news is that there are options—well, lots ofoptions—but I've boiled it down to three.

1.  First, build a core benefit package. This wouldlikely start with medical and/or retirement.
2. When feasible, extend the core package to include ancillarybenefits, such as life, disability, dental and vision. Depending onwhat amount the employer can contribute, they could considerproviding life and/or disability at no cost to the employee (sincethey are lower premium products) and then offer the dental orvision on a voluntary (employee paid) basis. Or, vice versa. Eitherway, these combinations are an effective strategy in helpingemployees obtain affordable, comprehensive insurance while alsominimizing the cost outlay of the employer.
3.  Consider adding supplemental worksite products which,among other things, includes cancer, accident and critical illness.While these products all fit a unique and important need, theyshouldn't be a replacement for a comprehensive core plan. Instead,once the core benefits (as defined above) are in place, add theseproducts as an effective compliment.

As you know, there are lots of factors to consider, which is whyyour role is so critical. But the good news is that you can helpthe employer achieve multiple objectives and select the rightcombination—one that strikes the balance between what employeeswant versus what they need and one that maximizes the employer'sbenefit dollar with what they have to spend.