Trying to quote small group health insurance to trucking co in Mobile,AL

[LeeV]

Thanks for joining in, Tyler. Lee Vena usually chimes in but since he retired I don't see him around much.

PEO's were reasonably new when I was winding down my group health business. There was a local one that actively solicited agent participation. It was intriguing but I figured they would "use" us to get them in the door and then would wedge us out of the relationship. So I never pursued anything with them.

I understood enough about the concept to know they could steamroll an agent almost anytime they wanted.

Retired? No, just changed computers and lost my password. Finally decided to try get a new password and log in again. Hope all is well with you.

 

[somarco]

I could have sworn you said you retired. Or did you just change to a new TPA?

 

[LeeV]

I could have sworn you said you retired. Or did you just change to a new TPA?

Neither. Just off line for a few months.

 

[nonie]

I spent about 30 years in the group health insurance business before switching to Medicare.

PEO's have been around at least 15 years, maybe longer. I have never tried to go head to head with them even though I could probably offer a group insurance package with better value.

What I can't do is offer the full HR package with payroll, WC and whatever else is included in today's PEO offering.

This is JUST my opinion, others who are still active in the group insurance market may feel differently, but I would consider it a waste of my time to try to disrupt the PEO package by carving out some portion of the employee benefit offering.

Some PEO's allowed independent agents to market their program in the past. I don't know if those situations still exist or not.

Even if they do, unless you understand and know how to pitch WC, payroll services, etc you are wasting your time and your prospect.

Pitching a PEO is like an agent who is proficient in small group plans trying to sell a 401(k), WC, CGL, etc at the same time. Most who try that will miss a lot of other sales that are in their wheel house while trying to compete against someone who sells a PEO every day.

We had an agent not too long ago that had an "in" with a whale . . . could have been a large group or an association . . . don't recall which. Several folks tried to tell him to walk away and let someone who knows what they were doing to help, or set up an agreement to let the expert handle everything once Mr. Greenagent made the intro, and be willing to take a small (10% or 20%) cut in exchange for learning the ropes.

As I recall, he was not willing to set aside his ego and ended up arguing with agents who were trying to help.

Don't be that guy.

What made you switch from group to Medicare?

 

[somarco]

What made you switch from group to Medicare?

Burnout

 

[nonie]

I'm burned out with Medicare.

 

[vic120]

I'm burned out with Medicare.

https://insurance-forums.com/commun...ng-co-in-mobile-al.106107/page-2#post-1426614


Wow I can see that

What makes you think groups will be better?

 

[nonie]

https://insurance-forums.com/commun...ng-co-in-mobile-al.106107/page-2#post-1426614


Wow I can see that

What makes you think groups will be better?

 

[nonie]

More money. I don't have to break my neck from AEP. I hate AEP. I also think there is a lot of competition for Medicare since it's more of a entry level insurance item for agents.

 

[DonP]

More money. I don't have to break my neck from AEP. I hate AEP. I also think there is a lot of competition for Medicare since it's more of a entry level insurance item for agents.

I agree . 100's of you tubers are pushing it big . David duford had a video of making $500 k in passive renewal income . Him nor Massey have ever sold 1 mapd yet are recruiting and hyping like crazy . 10's of thousands of new agents are rushing in for their pot of gold .