How to Get Started In Selling Employer Health Plans

[Tyeson]

Hello everyone,

I am trying to expand my health insurance agency to employer group plans. My agency currently only works in the Medicare space. How does someone get started in the Employer benefits? Does anyone have recommendations on courses to take on the basics of selling Employer plans or something down that road?
Thanks for help and feedback.

 

[trickormate]

Thanks for asking this question, I am in the same boat.

Regards,

 

[leevena]

Keep in mind, this is not the best method for answering your question, there are just too many variables and opinions. At the very least determine your market potential. Are you in a rural area with few groups? Are you in an urban area with many? Secondly, identify a list of groups you would like to approach. Third, identify the types of plans (medical, dental, group term, voluntary, etc) you want to market and reach out to their sales reps for info. Learning group is easy, the reps can provide you with enough to give you a solid foundation.

If you already have an Agency, you may want to consider bringing in a person who has experience in group, cut them a deal and let them do it. You can learn from watching.
Good luck

 

[Katelynd]

NAHU has some online courses you can take to learn how to service groups. Compliance is the competitive edge. Last thing you want is to sell a group and not make them aware of their responsibilities therein.

 

[leevena]

NAHU has some online courses you can take to learn how to service groups. Compliance is the competitive edge. Last thing you want is to sell a group and not make them aware of their responsibilities therein.

Interesting comment, can you expand on it a little more? What are the compliance issues that may be encountered? Thanks

 

[trickormate]

Keep in mind, this is not the best method for answering your question, there are just too many variables and opinions. At the very least determine your market potential. Are you in a rural area with few groups? Are you in an urban area with many? Secondly, identify a list of groups you would like to approach. Third, identify the types of plans (medical, dental, group term, voluntary, etc) you want to market and reach out to their sales reps for info. Learning group is easy, the reps can provide you with enough to give you a solid foundation.

If you already have an Agency, you may want to consider bringing in a person who has experience in group, cut them a deal and let them do it. You can learn from watching.
Good luck

I have both Urban and rural, I'd like to focus on 1-100 life's. The reason, I am on my own.

Sorry for piggybacking on this thread.

 

[leevena]

I have both Urban and rural, I'd like to focus on 1-100 life's. The reason, I am on my own.

Sorry for piggybacking on this thread.

No offense intended, but if you are asking these types of questions I would tell you to concentrate on the smaller sized groups, say under-25. Under-25 will not have many sophisticated brokers or buyers. It will allow you to learn the fully-insured market as well as hone your skills. I am not talking long-term, maybe a year or so, depending on how many groups you talk to and how quickly you learn the business.

The 25+ market will be a different animal. Brokers will be more sophisticated, offering services to groups, and more competitive. The products change too, with the use of self-funding beginning around 25.

 

[trickormate]

No offense intended, but if you are asking these types of questions I would tell you to concentrate on the smaller sized groups, say under-25. Under-25 will not have many sophisticated brokers or buyers. It will allow you to learn the fully-insured market as well as hone your skills. I am not talking long-term, maybe a year or so, depending on how many groups you talk to and how quickly you learn the business.

The 25+ market will be a different animal. Brokers will be more sophisticated, offering services to groups, and more competitive. The products change too, with the use of self-funding beginning around 25.

Thank you for the advise, I will do that. I'm wanting to learn as much as I can and any suggestions on books or sites would be greatly appreciated.

 

[leevena]

No offense to writers/publishers, but do not rely on them to learn the group business. Develop your marketing plan, develop your pre-approach letters, develop your call script, reach out to group reps and get their product information and info, go to a local Health Underwriters meeting. Do worry about having it all set prior, remember it is shoot, aim, ready!

 

[trickormate]

No offense to writers/publishers, but do not rely on them to learn the group business. Develop your marketing plan, develop your pre-approach letters, develop your call script, reach out to group reps and get their product information and info, go to a local Health Underwriters meeting. Do worry about having it all set prior, remember it is shoot, aim, ready!

I appreciate your response. I'm gonna have to see which carriers are in my state, so i can get contracted with them. So I can get this ball rolling.