As you all well know, we are experiencing a dizzyingly frenetic period in our industry. Health Insurance has been top-of-mind for many politicians, civic leaders and reporters, who have never given the subject a second thought, unless of course they or a loved one needs medical care. This eBook is our attempt to distill many of the lesser known or understood concepts floating about in our industry into a practical tool for discussion, marketing and/or simply a reference guide.
Many of you are familiar with terms like MEC, Limited Medical, MVP, Hospital Indemnity and even Skinny Plans. In this document, we attempt to define and reassign a more universal designation to consolidate and identify these various names. Our hope is that from here on out, we will call any plan with first dollar (no deductible or coinsurance) coverage Incentive Based. We can distinguish these plans with a more traditional Major Medical design as Disincentive Based (as they rely upon financial barriers to reduce or control utilization) Fully insured or self-funded, plans will fall into one of these two designations
This eBook includes details on the following subjects:
- · Definitions and Examples of Best in Class Incentive Based Plans
- · New Business Acquisition Strategies
- · Best of Class Carriers and Plans Sponsors
- · Turnover Reduction Strategies
- · Common Mistakes that We All Make with Non-Traditional Plans
- · Existential Threats to our Industry and Your Livelihood
Client Retention & Sales
Despite all the debate and speculation, brokers and their agencies still need to continue to grow and prosper through both acquisition and the retention. In this eBook we have attempted to gather a series of marketing strategies that specifically address the needs of an underserved yet rapidly growing market segment, the low wage hourly service employee.
Please feel free to unpack any of the sections for use as a reference tool, marketing guide or training tool for your new associates. Of course, we would love to hear from you and serve you as a valued consultant. As always, our services come with no strings attached, nor do I charge fees, go directly to employers or interfere with any carrier compensation arrangements.