Advice for one woman show
- Thread starter DSH
- Start date
It would help if we knew something about you, your experience, etc.
The group health business is tough for a lot of reasons. Long gestation period, as earned commissions, GOB network, etc.
Some may disagree, but I see a fall off in WSM production for at least the next 12 months. Economy in the dumper. Folks cutting back on discretionary spending.
The group health business is tough for a lot of reasons. Long gestation period, as earned commissions, GOB network, etc.
Some may disagree, but I see a fall off in WSM production for at least the next 12 months. Economy in the dumper. Folks cutting back on discretionary spending.
- 1,908
I agree with #1.
That being said, you might want to concentrate on small businesses. Despite what you may hear from the media, several insurance companies have retooled their products to make it more enticing/affordable for small businesses to offer group plans.
This is also the most overlooked business model out there.
That being said, you might want to concentrate on small businesses. Despite what you may hear from the media, several insurance companies have retooled their products to make it more enticing/affordable for small businesses to offer group plans.
This is also the most overlooked business model out there.
- 3,384
Blue Cross CA (now Anthem BC) tried that a few years ago and the silence has been deafening.
The BeneFits portfolio was introduced to help an estimated 650,000 CA business purchase from a more affordable portfolio of small group products.
The result has been, eh.
The BeneFits portfolio was introduced to help an estimated 650,000 CA business purchase from a more affordable portfolio of small group products.
The result has been, eh.
- 1,908
Here, in Atlanta, Assurant has a One Decreasing Deductible, that can be used in a Group HSA/HRA setup.
Kaiser Permanente has their Multi-Choice Plan that's been out for several years.
With BCBSGA, you can have a dual option, with as few as two employees.
Just to name a few. That may be here, in Georgia only, though.
Kaiser Permanente has their Multi-Choice Plan that's been out for several years.
With BCBSGA, you can have a dual option, with as few as two employees.
Just to name a few. That may be here, in Georgia only, though.
- 3,384
Things are much different for sure.
CA, no HRA combined with HSA for small group, no wrapping of any kind is allowed. Employer can fund HSA, but may not direct reimburse on any expenses under the deductible.
We only have one pool for small groups (under 20) in CA, CalChoice/KPChoice. Most small groups can only go one carrier.
You can with Anthem on down to 2 with all plans in portfolio, so you can offer the full spectrum.
The BeneFits program has changed a bit since they added a Lumenos HSA plan to the mix. The original program was 5 plans, all with holes in them and bare bones coverage options including limited Rx options. Price was good and participation was only 60%, but few bit on it.
CA, no HRA combined with HSA for small group, no wrapping of any kind is allowed. Employer can fund HSA, but may not direct reimburse on any expenses under the deductible.
We only have one pool for small groups (under 20) in CA, CalChoice/KPChoice. Most small groups can only go one carrier.
You can with Anthem on down to 2 with all plans in portfolio, so you can offer the full spectrum.
The BeneFits program has changed a bit since they added a Lumenos HSA plan to the mix. The original program was 5 plans, all with holes in them and bare bones coverage options including limited Rx options. Price was good and participation was only 60%, but few bit on it.
- 1,908
Clarification:
HRA or HSA
HRA or HSA
- 3,384
In CA, carriers prohibit using an HRA or any other wrap/reimbursement with any HSA compatible plan. It's a big no-no out here and if the employer does it, agent loses commission.
- 4,096
I had a female producing agent work for me for about 2 years in the health side. I ended up sending her to the all womans groups & woman business owners associations. She had the most success with these type of meetings. She was able to pick up some small group cases and individual sales through those associations. That might be an avenue that could help you get into the door for quoting group health benefits.
As far as small groups carriers retooling their benefits designs:
I have not seen any real cutting edge plan design come out.
Anthem came out last year with a Hospitalization plan that cuts premium by 58%. This plan has carved out all diagnostic benefits, wellness, mental health, and brand name drugs.
THe positive is a family runs about $340 a month & single coverage is $148.
I am putting this plan in place when the client is talking about dropping benefits completely.
As far as small groups carriers retooling their benefits designs:
I have not seen any real cutting edge plan design come out.
Anthem came out last year with a Hospitalization plan that cuts premium by 58%. This plan has carved out all diagnostic benefits, wellness, mental health, and brand name drugs.
THe positive is a family runs about $340 a month & single coverage is $148.
I am putting this plan in place when the client is talking about dropping benefits completely.
