Payroll and Insurance Company -Looking for Help

[AverageJoe]

Hey everyone,


Listen, I do not know where to even begin, but my scenario is this:

My family owns a CPA Firm and a Payroll Processing Company. I am a 2-20 P&C Licensed Agent and have my own Independent Insurance Agency with E & O Coverage. I have various carriers and only focus Workers' Comp, General Liability, Property, and Commercial Auto.

With our payroll company and my insurance agency we offer pay as you go and the whole nine yards, but what do not have is health insurance and we want to be able to include Health as those bigger Payroll Companies (ADP, PAYCHEX)

I guess my question is, where do I start? With my license can I do health? Who is competitive in Florida? What carriers are easier in the appointment department? and many other questions so feel free to add information.

Any responses would be helpful.

Thanks

 

[Yagents]

Hey everyone,


Listen, I do not know where to even begin, but my scenario is this:

My family owns a CPA Firm and a Payroll Processing Company. I am a 2-20 P&C Licensed Agent and have my own Independent Insurance Agency with E & O Coverage. I have various carriers and only focus Workers' Comp, General Liability, Property, and Commercial Auto.

With our payroll company and my insurance agency we offer pay as you go and the whole nine yards, but what do not have is health insurance and we want to be able to include Health as those bigger Payroll Companies (ADP, PAYCHEX)

I guess my question is, where do I start? With my license can I do health? Who is competitive in Florida? What carriers are easier in the appointment department? and many other questions so feel free to add information.

Any responses would be helpful.

Thanks

My personal opinion: I wouldn't bother doing it. You're getting into a business that is dying on the vine. I'm sure most of your employer clients are less than 50 employees. If so, you'll lose those clients come 2014 when they ship all the employees to the exchange when health reform kicks into high gear. No group plan and no payroll necessary.

To be selfish, you should instead put those employees on private health plans (IFP), via an HRA. At 50% of the cost, you'll win the employer's trust, and then you can sell them payroll services for everything but health insurance. But the ramp up to learn IFP won't be worth your time, because once again, 2014 changes everything. If you don't want to do the indi health, I'm licensed in FL and willing to take those off your hands.

I think you'll need a 2-15 license to sell health. I can't sell P&C