Future of Small Group Benefit Brokers/Advisors

Nov 5, 2018

  1. rcduggan
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    rcduggan Super Genius

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    grandmothered isn't SLANG, friend.
     
  2. Mike Siegal
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    Mike Siegal Super Genius

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    Oh,...Ok...i got it now (thanks)!
     
  3. floridashores
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    floridashores New Member

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    All good point here. Diversification is key. Be a business consultant...have your vendors and suppliers on hand for any aspect of business. Referral fees can add up. Get a P&C license and refer it out. Buy property. Don't expect to know everything, but keep up on your core business and become a team player for others. Just my thoughts.
     
  4. junkman
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    junkman Guru

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    We've been saying group is going to die for as long as I can remember. It was shocking when EE Only rates broke $100. I thought I'd get fired after delivering a $103 rate.

    Make money while you can. You get paid as long as you're the agent of record. Have a bail out strategy for when/if it crashes. By the way, no one knows what "Medicare For All" looks like. I certainly wouldn't want to pay the premium on the current Medicare plan design.

    A client of mine got medicare this year and had 2 minor hernias repaired with a sleep study. Providers billed upwards of $27,000. Medicare paid slightly more than $4k. The hospital needs Medicare business to stay in business and my client could have written a check for the $4k had that been the invoice. Lots needs to be changed with our healthcare including the funny-money billing.
     
    junkman, Apr 11, 2019
    #54
  5. leevena
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    leevena Guru

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    I remember brokers complaining about family group rates at $100. People said it was ridiculous and we could not sustain it. Lol
     
    leevena, Apr 11, 2019
    #55
  6. David Block
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    David Block Expert

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    As the eternal optimist, I am still looking for the pony in the pile of manure. As far as I can see, for at least the next 5-years, we will still have the current system of employee benefits alive and well. That said, those brokers that work with groups from 25 lives and over, must do all they can to help bring down the spiraling cost of insurance.


    Now we all know that health insurance is expensive because healthcare is expensive. So, addressing these issues with clients is the key. I don't care if it means negotiating directly with a hospital system for an employer group or simply trying to make the employer understand the overall health of their group, how to improve it, and how it relates to productivity. These are all strategies that need to be applied and others need to be found.


    What is driving the "Medicare for All" is not only the drive to cover everyone, but the fact that the cost of delivering healthcare (and thus insurance) is on an unsustainable trajectory. If we can keep that trend lower than COLA, would that not be a blow to those who say, "Cover Everyone" and "We can do it better and cheaper"?


    It is no longer acceptable to deliver carrier increases that pad their pockets. Creativity grew this industry and it will keep us in it if we can think beyond the curve.
     
  7. somarco
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    somarco GA Medicare Expert

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    Show me a place where "universal health care" is working.
     
    somarco, Apr 11, 2019
    #57
  8. ABC
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    ABC Guru

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    The Medicare reimbursement rate is why Medicare for all will never work.
    $27K charge and Medicare pays $4k, private insurance would pay $12K. The entire medical community would collapse overnight. Medicare for all people is those that have major medical conditions, all of them! I've participated in a forum called Voxcare where it's super liberal, after a year I realized they all are high claimants that are too sick to work, so now they are socialists.
     
    ABC, Apr 16, 2019
    #58
  9. leevena
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    leevena Guru

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    I found the place where universal care is working!

    upload_2019-4-16_17-50-16.jpeg
     
    leevena, Apr 16, 2019
    #59
  10. somarco
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    somarco GA Medicare Expert

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    What kind of substance was ingested before visiting this place?
     
    somarco, Apr 16, 2019
    #60
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