Future of Small Group Benefit Brokers/Advisors

Nov 5, 2018

  1. Matt Weiss
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    Matt Weiss New Member

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    lol, yes I know. A lot. My bad for the typo.
     
  2. JNJcannon
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    JNJcannon Expert

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    Everyone saying "Group will die with Single Payer," go look at Canada. Group health insurance is still a very lucrative market.
     
  3. leevena
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    leevena Guru

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    That is somewhat true, most of this coverage is a type of gap coverage. The Canadian health plan does not cover everything, such as RX, most mental health, some infertility, nursing.
     
    leevena, Jan 4, 2019
    #33
  4. somarco
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    somarco That Medicare Expert Guy

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    Doesn't the government (taxpayers actually) subsidize the cost of Rx? I believe that is why drugs are so much less expensive there.

    Plus they don't have to jump through FDA hoops for approval.
     
    somarco, Jan 4, 2019
    #34
  5. rcduggan
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    rcduggan Super Genius

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    PEO's are a mistake to any small group broker. Once the employer goes that route, all control is lost by the broker and also the employer. Should the employer decide to look elsewhere, the broker is long forgotten. Benefit designs may be enticing but the broker and employer are giving up everything.
     
  6. somarco
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    somarco That Medicare Expert Guy

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    I would agree up to a point. A PEO can be an all-in-one solution to many issues, not just health insurance. If the broker chooses to stay involved and is paid accordingly, then what is the problem?

    If he/she is merely shopping rates and not creating real value then they deserve to lose the account. Many years ago a commission check was mailed to me by accident. It was a group of 100 lives or so and the group health commission was $1800 on a monthly premium of $10,000. I don't know any broker that is worthy of an 18% commission on group health.
     
    somarco, Jan 9, 2019
    #36
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