Selection Tips

Finding just the right administrator for your employee benefits should not be something you rush into. When you're trying to pick an administrator, keep the following in mind:

• Although you have the option of switching administrators every year, switching can be costly and disruptive; therefore, you should take great care in making your choice, and you should assume that your relationship will be continuing.
• Administration has become increasingly paperless; you should be comfortable with your administrator's level of technology, sophistication, and commitment to keeping up with future trends.
• If you seek bids on your coverage, you should state clearly what your plan design will be and what your administrative needs will be; otherwise, you may end up with extra costs you didn't anticipate.
• If you expect your administrator to be able to guarantee certain performance standards (for example, to pay claims within x number of days), you should incorporate those in your request for a bid.