The Insurance Agent's Resource
From the East Coast to the West Coast and at almost every location in between, public entities are struggling to balance diminished revenue, increasing demands for service and the rising costs of employee benefits. In fact, bankruptcy is either looming or has become reality for a number of local governments, including the cities as far apart as Stockton, California and Central Falls, Rhode Island. Finding a way to cover obligations at a lower cost has never been a more pressing … [Read more...]
As I’ve often said, opening the door to the voluntary sale is a much more difficult task than opening the door to the group major medical sale. In the major medical sale the employer is generally highly motivated to seek solutions to the escalating premiums since he is most likely paying the bill. However, there is no such motivation when it comes to voluntary benefits. Despite the increased difficulty in opening new opportunities, the group health agent would be well served to become … [Read more...]
What are you worth to any one of your clients? I mean in dollars. What’s your actual dollar value to your client? Do you have any idea? Does it come anywhere close to the commission you are making off the client? Is your client aware of the added value you provide? It’s a question you should be asking yourself. And it’s not an idle exercise. Aetna Is First In what it calls “post-reform positioning,” Aetna announced in April 2011 it is shifting to a “service fee broker … [Read more...]
According to the Census Bureau, about three quarters of all U.S. business firms are non-employer firms, with the next largest group having one to nine employees. While those companies without employees account for only about 3.4 percent of business receipts, they still represent a significant market for business insurance, especially considering that only 14 percent have life insurance as part of their business-continuation plans, according to LIMRA’s “Small Business Owners 2009” … [Read more...]
You should prepare yourself now, as health savings accounts (HSAs) will be more attractive to employers and employees in 2012 thanks to a projected increase in the allowed amounts for contributions, as well as the continued implementation of the Patient Protection and Affordable Care Act (PPACA). Health savings accounts (HSAs) were created by Public Law 108-173, more commonly known as the “Medicare Prescription Drug, Improvement and Modernization Act of 2003.” Any adult who is … [Read more...]
Ten Questions That Need Answering In 2012 "Strategy is about the futurity of current decisions…it does not deal with future decisions. It deals with what we have to do today is to be ready for an uncertain tomorrow." – Peter Drucker For health plans, one thing is certain: Health Care Reform implementation (PPACA) means an uncertain tomorrow. In order to design a roadmap for the future, health insurance carriers and their distribution partners need to create “manageable … [Read more...]
