GROUP REPS; When Are Group Policies Sold?

[Gulfman]

Hi all,

I was talking to a out-of-town EB benefits rep who said that her busy period was during ACA open enrollment. Then she gets quite a break.

I then thought "well,...what is she doing the rest of the year if EB is not sold during the year?

QUESTION:

• How often do you sign up groups?
• Does this mean that groups don't sign up "outside" ACA?
• If you slow during that time, what do EB guys/gals do?

Anyway, thanks for any constructive input you can give.

 

[somarco]

20+ years ago when I was a group rep, most of the plans ran on a calendar year. Our busy time started in Sept and sometimes ran past Christmas.

I doubt much has changed, especially in the larger group market.

As for the rest of the year, the first 2 months or so of the year was spent making sure all the new and renewal cases were processed and issued. The remaining 6 months was spent prospecting for new brokers and keeping existing brokers happy.

Not all groups run on a calendar year but most eventually gravitate to a January renewal. We still wrote new groups and additions every month of the year.

That being said, my exposure to reps in recent years has been disappointing. Most of them have no real understanding of the business and service work is a foreign term.

 

[BCN]

We find that most groups are "sold" 3 to 6 months prior to open enrollment. Open enrollment happens 1 to 2 months prior to effective date. Effective days will vary based on industry.

Many Non - Profits who are huge consumers of EB have effective dates in sync with their year ends which tend to be 6/30. Then Auto Dealers effective dates tend to range from 9/1 - 11/1.

Individuals tend to have the 1/1 effective dates. And there are many other companies that do the 1/1 effective date but there is work to be done all year round.

 

[Botboy141]

Refer to my answer on Reddit =)