Employee benefits review: seven things to check before renewal
By the TRS broking team24 Oct 20265 min read
The short answerStart a benefits review at least 90 days before renewal. Check headcount and data accuracy, claims paid against premium, plan features employees actually use, gaps for senior staff and dependants, and whether the insurer’s service has worked when it was needed.
Why start early?
Insurers need accurate census data and claims history to quote. Starting 90 days out leaves time to approach several insurers and adjust the plan.
The checklist
Work through these before asking for quotes.
| # | Check |
|---|---|
| 1 | Census data: headcount, ages, joiners and leavers |
| 2 | Claims paid compared with premium |
| 3 | Benefits used most, and least |
| 4 | Gaps for senior staff and dependants |
| 5 | Panel clinics and how employees claim |
| 6 | Group personal accident and travel cover |
| 7 | Service: how quickly claims and changes were handled |
Want this checked against your own policies?Talk to a broker
What changes most often at review?
Outpatient design, co-payments and ward entitlement are the usual levers. Changes should be explained to employees before the renewal date.
Frequently asked questions
Can benefits change mid-year?
Additions and removals of employees happen through the year. Plan design normally changes at renewal.
Related cover
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General information only, not advice on any particular policy. Cover depends on the policy wording and the insurer's terms.