Prospecting 51-250 for Group Benefits

[Key2Success]

Benefits Recovery is something a CEO of a large company would be directly involved in. When I cold call for 401k plans or NQDC, I go straight to the Owner/CEO.

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Your right, it is.
I have a 150 person group where the owner is totally hands off with the Insurance. He only is involved with major changes to plan design. But I have a 200 person group where the owner wants to be at every meeting and every review for the group health. But generally speaking, from my experience, the larger the group the larger the importance of the HR manager.

And its not uncommon for ultra small groups to have a trusted assistant/etc. take care of a lot of the decision making. Some business owners, especially of very small businesses, do not trust themselves with finances. Its sad really (especially since they are in charge of their employees financial future).


One interesting thing Ive found over the years is that the ones who control when small and delegate more and more as they grow... are the ones that expand the most. (generally speaking)
Ive got a construction firm that has been around 30 employees for the past 9 years. The owner makes zero insurance decisions and has his office manager make them all (even personal insurance). I have another construction firm that started 4 years ago with 5 guys. Now they are at 50 and looking to add 10 more this year they claim. Exact opposite when it comes to the decision making process. At first he was 100% hands on, now more and more is delegated to his office manager. Now its just her and I reviewing renewals and discussing possible changes. If a major change is made the owner will sit in for that and make the final decision, but thats all.

It is very interesting for me to watch how my clients businesses do over the years and comparing it to their decision making process and personality. Obviously everyone is different, but sometimes you do start to see general traits and patterns.

With the astronomical rise in health insurance costs for both employers and employees in the past few years, it's critical for the owners/CEO/Presidents to get involved in these decisions. They are responsible and the ones employees look to for these critical decisions....not the HR person. They see this and are getting involved. Who is going to pay for the rising costs? How will this affect worker output and attitude? How does/will this affect company profits? Many questions that most have no answers to and need guidance. THEY NEED ANSWERS!

 

[scagnt83]

I doubt group health will still exist in 5 years, so its just a short term problem.

Im not counting on any of my current group health income to be there for me 5-10 years from now. The game will have changed and all we will be selling are sups of some kind. Still lots of money to be made both now and when things change.

jmo

 

[Key2Success]

I doubt group health will still exist in 5 years, so its just a short term problem.

Im not counting on any of my current group health income to be there for me 5-10 years from now. The game will have changed and all we will be selling are sups of some kind. Still lots of money to be made both now and when things change.

jmo

Agreed....right now it's a goldmine!

 

[Gulfman]

I doubt group health will still exist in 5 years, so its just a short term problem.

Im not counting on any of my current group health income to be there for me 5-10 years from now. The game will have changed and all we will be selling are sups of some kind. Still lots of money to be made both now and when things change.

jmo

Agreed....right now it's a goldmine!

Good Info guys...thanks.

Can you share with us your opinion on Why Groups won't exist 5yrs from now?

What's going to happen?



.

 

[Key2Success]

good info guys...thanks.

Can you share with us your opinion on why groups won't exist 5yrs from now?

What's going to happen?



.

i was being facetious....it will still be around and providing great opportunities ...........for those who take advantage of those opportunities.