Most small business owners renew with the same carrier year after year — sometimes out of loyalty, sometimes out of inertia. But open enrollment is the perfect time to ask: is your current carrier still the right fit?
1. Your Rates Increased More Than 10%
Annual premium increases are normal, but anything above 8–10% should prompt you to shop the market. Carriers vary significantly in how they price risk, and a competing carrier may offer comparable coverage at a substantially lower rate for your employee group.
2. Your Employees Are Complaining About the Network
Network size and quality matters. If your employees are struggling to find in-network specialists, having claims denied, or dealing with out-of-network surprise bills, that’s a sign the current plan’s network doesn’t match your team’s needs.
3. Claims Are Being Denied or Delayed
A good carrier processes claims efficiently and fairly. If your employees are regularly fighting with the insurance company over claim denials, it’s time to consider alternatives. Carrier reputation for claims handling varies widely.
4. Your Business Has Changed
Added employees? Lost employees? Changed locations? A plan that was perfectly sized for your business two years ago may no longer be the right fit. Open enrollment is a natural reset point.
5. You’re Not Getting Year-Round Support
Your broker should be available all year — not just at renewal time. If you only hear from your current broker when it’s time to sign paperwork, you’re not getting the service you deserve.
The Bottom Line
Shopping your group health plan doesn’t mean you’ll switch — sometimes you’ll confirm your current carrier is the best option. But you won’t know unless you look. Garden State Benefits shops the full market every open enrollment to make sure you’re getting the best value.
Reach out to Paul to get a free competitive analysis before your next renewal.