Back in the day, distant memory for many of us, agents could earn a good 6-figure income selling Major Med alone. A lot of water has gone under the bridge since then. Times have changed and with that many have left the industry, incapable of making a sustainable income like they used to. Not being skilled in cross-selling or lacking an understanding of “ancillary” products, they failed to take advantage of new trends emerging in the marketplace. What are these trends? As you will see … [Read more...]
Critical Illness Plans With Many Covered Conditions
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This article is an extension of the article, Your Guide to Living Benefits in Insurance Plans. Whereas Cancer Insurance and Heart Attack/Stroke Insurance are very specific to those conditions, there is another broad category of insurance that provides living benefits. This is your more comprehensive Critical Illness insurance plans which cover up to 18 different conditions. This category could be quite lengthy but we are going to simplify and give you guidance. Most all critical illness … [Read more...]
Voluntary Benefit Plans: Why Bother?
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Confidence in voluntary benefits is on the rise among carriers, brokers, customers and vendors in the market, according to a recent survey by Connecticut-based Eastbridge Consulting Group. The survey’s confidence index – based on sales growth, industry profitability and employee enthusiasm about products – continued to increase through the end of 2011, and 95 percent of survey respondents expected sales growth to continue throughout 2012. Voluntary Benefit Plans let employees choose … [Read more...]
How to Sell Health Insurance in Post Health Care Reform
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I’m not Nostradamus but…. I am going to go out on a limb and predict that the world is not coming to an end. Contrary to the many radio, internet and Mayan calendar theories that you may have heard, I think we have millions of years left on this wonderful planet! Another prediction I’m going to make is that insurance consumers will always need insurance professionals. 2014 will be here in a flash and with that comes President Obama’s sweeping Health Care Reform bill or PPACA. It … [Read more...]
Co-Op Health Plans – Opportunity or Competition?
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The Patient Protections and Affordable Care Act (PPACA) provides for the creation and operation of Consumer Operated and Oriented Plans (CO-OP). These plans were the compromise to not include a “public option” in PPACA. These CO-OP plans must be organized as non-profit, member managed entities in the state that they operate. All of the activities of the CO-OP must be substantially issuing individual and small group insurance products to its members in the states in which it … [Read more...]
Health Savings Accounts: More Attractive for Employers and Employees
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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...]
