Group for Small Biz?

[lacy_amy]

I am wondering if small groups, as in 2-5 employees are better off getting individual policies? I heard there is no commission for group policies. Is this true? What group carriers are good out there?

 

[Full Throttle]

I am wondering if small groups, as in 2-5 employees are better off getting individual policies? I heard there is no commission for group policies. Is this true? What group carriers are good out there?

Depends on the groups sitaution and what they want to accomplish. Did a GA tell you there were no commissions on group? That's absolutely BS. Not enough information to give you an answer on the competitive carriers in your area, depends on what state you are in and sometimes which part of the state. They can also fluctuate year to year depending on how agressively they want new business. Unless you live in my metro area, I couldn't give you an answer.

 

[lacy_amy]

This is the Milwaukee, WI area.

 

[ABC]

There is commission on groups under 5 lives.

I don't know WI insurance laws but individual plans can be cheaper for a small group under 5 lives.

If you are pitching HSA products you can put individual plans in place and the employer can still contribute to the custodial accounts. It's kinds of a cool loop hole on the HSA plans.

I would present both group and individual options to the prospect.

 

[Full Throttle]

Some carriers to think about as you get started:
Humana
WPS
Anthem
United Health

 

[DavidD1]

I am wondering if small groups, as in 2-5 employees are better off getting individual policies? I heard there is no commission for group policies. Is this true? What group carriers are good out there?

Better off is really a question determined by the state and company. But if you follow trends a greater percentage is moving towards individual due to rising costs in groups...Personally I prefer working with Indy agencies that pay full advances and prepare the group proposals for you. Contact me and I would be glad to send you that info
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