Employee Benefits Broker

Employee benefits brokers help companies provide benefits to employees - health insurance, dental/vision, retirement plans (401k), life/disability insurance, and voluntary benefits.

You analyze company needs, present carrier options, manage enrollment, and provide ongoing service.

Commissions typically 3-8% of premiums paid.

Managing benefits for 20-50 companies (500-2,000 employees) generates $100,000-$300,000 annually with 85-95% margins.

Target clients include small to mid-sized businesses (10-500 employees), growing startups offering benefits, companies dissatisfied with current broker, new businesses establishing benefits, and industries with benefits needs.

Services include benefits plan design and selection, carrier negotiations and comparisons, enrollment and administration support, compliance assistance (ACA, ERISA), employee communication and education, and renewal management.

Success requires understanding employee benefits products and regulations, relationships with insurance carriers and vendors, sales skills winning business accounts, service skills retaining clients, and compliance knowledge (ACA, COBRA, ERISA).

Many benefits brokers specialize in company sizes or industries, partner with HR consultants and payroll companies, offer additional HR services, potentially add retirement plan business, and build recurring commission revenue from client retention.