" We already have coverage through our Husbands employe

[somarco]

Cherry pick the healthy ones. Sometimes you pull them all off the plan, sometimes just the kids, sometimes all the dependents.

You won't know who to pull off until you establish a dialogue and the person gives you information.

I take folks off low deductible, copay plans with some regularity. Sometimes they go to a higher deductible such as $2500, sometimes they go for the HSA with an even higher one.

Say they are paying $700 to cover mom & 2 kids. Say everone is healthy and the kids are beyond the twice monthly visit to the Ped.

Ask how many times they go to the doc. Mom will be 1 to 2x per year. Kids about the same, maybe more.

Ask when was the last time they spent more than $500 during the year on any one person for medical treatment.

Ask them how much their out of pocket is on a major claim. Chances are, they don't even know how much the deductible is (since they never hit it) much less their OOP. If you find out their deductible, tell them their OOP is most likely the deductible + $2000 which is probably the case.

Once you have this info, you can throw out a proposal.

We have a plan that might fit.

This plan eliminates copays that run up the premium. It has a $2500 deductible, then 100% after that making your OOP about the same, or even less than a major claim on your current plan.

Did I mention the premium is $300 per month?

Do you have a use for the $400/month I am saving you? That is $5k per year.

Would you rather keep that money or send it off to the carrier?

If you haven't sold them by now you wont . . .

 

[Crabcake Johnny]

This is the exact kind of back-and-forth posting that we're trying to avoid. This kind of crap should be done through personal email - not in public on a board. There is a difference between disagreements with insurance products or anything insurance related and disagreements that get personal. This is when good agent who are just getting ready to post back off and don't post because they get scared.

This is over. Any further crap and all of the posts will be deleted. We are here to discuss insurance products, marketing and anything else that actually helps either agents or clients.

 

[Sam]

Kyle,
You should put back the link to your agency. It is not spam, we are all agents here anyway, so what is the difference. It just allows us a better picture of who you are and what you offer.

Lets just forget this and move on. You both have valuable insight to add to the forum, so why waste time on dissing each other.

 

[Guest]

Kyle,
You should put back the link to your agency. It is not spam, we are all agents here anyway, so what is the difference. It just allows us a better picture of who you are and what you offer.

Lets just forget this and move on. You both have valuable insight to add to the forum, so why waste time on dissing each other.

If I am wrong I will admit it. If I am offensive I will apologize. If I am breaking rules I will stop. Please tell me where I have crossed the line and I will step back.

 

[STIBROKER]

hey......I just cleaned up this thread......you are way off topic......now back to the show.....

Chris if you can get thier email address and age just tell them you would like to email some individual rates and compaire how much they are paying on the group plan....and hit them with this.....this is texas and we are not required to carry workmans comp.....most group plans do not cover on the job injurys.....so you can tell them that you can give them 24 hr coverage at a better rate then being on the spouse group plan.......

 

[somarco]

texas and we are not required to carry workmans comp

Have things changed?

Several years ago I was working with a guy who was putting together a 24 hour stop loss product for self funded groups. At that time TX did not require WC but DID require the employer to post a bond relative to the liability for a WC claim. They also allowed employers to self fund the WC and many were purchasing xs cover with a $250k SIR.

So are you saying there are no employer liability laws or the employer can go naked as long as they post a bond or have some other proof of ability to cover the claim?

depends on the buss. and the jobs they go after.......a mom and pop candle shop I doubt seriously...a contrctor going after a state or govt bid job.....diffrent story...

 

[moonlightandmargaritas]

It may be like here in Florida where you can waive 4 (in believe) officers from WC?

 

[NHB_MMA]

Yes im talking about Health Sti. And thanks for the help every one!

I think it most situations that is not going to be a sale and you'll need to walk. It can be in some situations, but not all of them. I have been out of the market for a few years, but I never found that an employer paid so little of the premium that an individual plan could compete.

At my current employer, where I'll soon be leaving, United HMO coverage cost me $33 every two weeks and it would be around $100 every two weeks for a family. So, that's a little over $200 per month for covering a family on a United HMO...safe to say no one is going to jump on a $1000 deductible to save a few pennies.

I'm not saying don't price it out, but don't make it your bread and butter. Unless things are different in your area, you'll starve if you count on the bulk of your business to come from taking off the spouse and kids from the primary plan. Your obviously looking for the self-employed individual and the uninsured.

 

[somarco]

I never found that an employer paid so little of the premium that an individual plan could compete

Probably because you have so little exposure to the real world of employer provided plans.

Big companies do pay a significant portion of the premium. Sometimes 80% or more of the total, not just the employee cost.

School systems may pay 30 - 40% of the total cost, still leaving many paying $500+ per month in premiums. That leaves some easy pickings for the astute agent.

As you spend more time in the under 100 & under 50 market you will find just the opposite. Many of these employers pay little, if any toward the cost of dependent insurance. This can be a windfall.

 

[Crabcake Johnny]

Regarding comebacks to "I'm fine where I am" or "I'm already covered" I really don't use any. I'm out B to B looking for the people who are interested - not the people who blow me off.

If an employer says he already has group and is happy I just mention that I can help with short-term coverage for new employees, offer alternatives to Cobra (if they even offer Cobra) and cover part-time workers.

You will not sell insurance unless you can solve a problem. No problem = no deal. They either:

A: Don't like their premium
B: Don't like their plan
C: Don't have a plan

If they don't convey displeasure about one of the above three items I have next to no shot at that deal. This is a numbers game and I'm not wasting time in any business going back in forth with people who maintain that they're fine where they are.