Three (3) Warning Signs that you are Failing to Advise your Service Sector Clients Properly about ACA Compliance
(1) Overpaying for your MEC Plan
MEC claims are in the $8.00 to $12.00 pmpm range. If your client is paying more than $30 pepm for a MEC ONLY plan, they are likely making a TPA wealthy, and you are vulnerable to client loss.
(2) Saddling your client with unacceptably high claims exposure on their MVP Plan
MVP Plans are generally *unnecessary and often exist only for compliance and neverintended for anyone to enroll in. Problem is, the fine print often vacates any reinsurance protection due to low enrollment. The result? Should some unfortunate soul actually enroll in the MVP, your client is uknowingly burdened with the very real risk of a catastrophic claim landing directly on their bottom line (and your E&O)
*Ask us why we believe MVP Plans are unnecessary and should be eliminated.
(3) Settling for poor ben/admin and (non-existent) customer service
Some of the stories we hear are simply amazing, not because service and accuracy are so poor, but because many brokers just assume this is how limited medical, MEC/MVP business is done. This is NOT acceptable and there ARE plans that excel in administrative services and support, we can show you.
Question: You are a competent and well-informed professional, why would you let a substandard MEC and MVP Plan potentially ruin your agency reputation?
Answer: Chances are, you do very few of these plans in your practice, perhaps one or two per year maybe? (We rarely do anything else) why don’t you let me review your current strategy and choices (I promise, I won’t tell anyone or charge you a dime)
Either you completely understand these plans (with an assist from me) or you stand to lose in a big way, either by the loss or a BOR, or worse, the dreaded E&O claim.