What Is Your Capacity for Growth?
By Dan Mangus
How realistic are your expectations when it comes to growth? Having dealt with hundreds of agencies addressing ways to establish ways to grow and determine their capacity for growth, I have found that most have not set down to address the immediate and long-term impact of growth.
Growth can come in many forms. Organic growth that establishes one new client at a time can come from effective marketing efforts, referrals, or strategic alliances. Acquisition growth generally brings on blocks of clients all at one time. If you are using acquisition for growth, ensure the methods and style of the agents you purchase align with yours. Since their clients were probably initially attracted to the agent’s style, this helps to ensure that the personality of the clients you acquire will likely be similar to your current clients. Be prepared if acquisition takes you into a new product line or a geographic area new to your practice.
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Grow your Revenue with Healthcare2U’s Nationwide Direct Primary Care:
A Win-Win for Advisors and Employers in California
By Andy Bonner
Already a leader in delivering nationwide access to thousands of individuals across the U.S. through board-certified physicians, Healthcare2U is making a push to ensure health advisors in California have an affordable cost-saving solution for employers impacted by the state’s recent minimum wage increase. As a result of the wage increase, employers are undoubtedly seeking customized solutions to manage costs while still providing comprehensive and affordable health benefits to their employees.
Healthcare expenses continue to increase, seemingly every year. For decades, fee-for-service healthcare has been the norm, however, it does come with challenges. For example, high deductibles, a confusing claims process, and perhaps most notably, a lack of meaningful patient-doctor relationships are just a few. Additionally, traditional models of healthcare delivery do not always offer the most streamlined or pocketbook-friendly solutions.
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A Case Study- Employer Funded LTCi
By Marc Glickman FSA, CLTC
Last month, we shared a group LTCi enrollment for a large employer with over 20,000 employees.
This month, I wanted to share a story that hits us close to home. One of the benefit brokers in our community was interested in offering LTCi to a long-time client of his. The client’s company provides care management services to children with serious behavioral health, substance abuse, or developmental issues and their families.
Most of their employees are social workers with an average age of 33 and are predominantly female. They are a growing company but have challenges retaining high-quality employees because of the nature of the job. Anything that they could do to attract and retain these employees, but on a limited budget, was highly desirable.
BuddyIns helped the broker propose a solution that resonated with their younger employees, and it was friendly on the budget at the same time.
Key Ingredients: Employer Funding Wins the Day
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Income Replacement Strategies
By Joe Russo
In Disability insurance isn’t usually the first product on the minds of most U.S. insurance advisors, nor is it on the minds of their clients. The average American seldom inquiries about most aspects of insurance, but when they do, it usually entails coverage types more requisite to government mandates, like medical or auto insurance, or preconceived notions of coverage for definite eventualities, like life insurance. We all know that someday each of us will die. That is a fact. But mistakenly, most of us never think we will be so sick or injured that we can’t work and earn a living.
Americans, regardless of age or gender have a generalized “Superman” complex, not believing they are susceptible to accident or illness and eventual temporary or permanent disablement. But the statistical data relays a vivid picture much to the contrary. According to the Council for Disability Awareness, more than one in four 20-year-olds can expect to be out of work for at least a year due to disablement before they reach retirement age.
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CalCPA Health is a program many brokers have been aware of for years.
Those who aren’t familiar with CalCPA Health should learn about them and start telling your clients about their benefit offerings.
Brokers Need to Know:
CalCPA Health is a California domiciled carrier who has been around since 1959 – providing excellent benefit plans to CPA and financial service firms of all sizes.
Medical, Dental and Vision plans are available for more than CPAs. Learn more!
CalCPA Health has very user-friendly HSA administration capabilities for employers and employees. They offer the largest selection of HSA plans in California.
7% commissions (first & renewal) 2-50 Small Group
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How to Perfect Your Health
By Bill Mason
BBSI National Relationship Manager
There are over 33 million small businesses in the US, and as a life and health insurance broker, tapping into this market segment can take your business to the next level. However, the strategies used to sell health plans to large businesses don’t work for small to mid-size business (SMB) owners who have a unique set of needs and budgetary constraints.
Understanding the Small Business Market
In the US, 99.9% of businesses are considered SMBs. According to the Affordable Care Act, businesses with fewer than 50 full-time employees don’t have to offer health insurance. Even so, many SMB owners are motivated to provide their employees with a benefits package as a form of retention and additional financial support.
The greatest challenge SMBs face when it comes to health insurance is rising costs. In fact, surveys show health insurance costs are one of SMBs’ top two issues, along with attracting new customers.
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INDUSTRY CALENDAR
We are enhancing our Calendar of events!
We are adding more events, and in 2024 we will begin to get these events to you in all Cal Broker media. Our monthly magazine and eNewsletter, Insurance Insider, have been the methods by which we have shared events for 42 years. Now we can help you with links in our traditional media that lead to our website, www.calbrokermag.com/calendar, where the California Broker Event Calendar will be posted.
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