The HSA Push, is It Really a Good Deal?

[ABC]

coinsguy
If you are able to close 50% of the people you are talking to then you are doing a good job. Keep that consistency up.
Will your retention rate be in the high 90% in two years?
What are you willing to do to keep your retention rate high?

I think its very possible to write 50% of the people you talk to even with web based leads if your game is tight then you can out sell all the other agents that are keyboard warriors.
Its not hard

I really don't know how new you are but if you are looking for retention and referrals you really need to be able to sell HSA plans. We will see an exodus of the legit co pay plans in the next 10 year.

 

[COInsguy]

coinsguy
If you are able to close 50% of the people you are talking to then you are doing a good job. Keep that consistency up.
Will your retention rate be in the high 90% in two years?
What are you willing to do to keep your retention rate high?

I think its very possible to write 50% of the people you talk to even with web based leads if your game is tight then you can out sell all the other agents that are keyboard warriors.
Its not hard

I really don't know how new you are but if you are looking for retention and referrals you really need to be able to sell HSA plans. We will see an exodus of the legit co pay plans in the next 10 year.

ABC, thanks I am able to write 50% by making sure that when I get past the first 10 seconds of a phone call I'm having a quality conversation. I could care less about a 1 call close because I show my clients my value to them, I truthfully compare all the carriers and then explain insurance to them in a way most appreciate.

I am not that new and do have a good retention rate, I sell about 80% HSA's and really only write one copay plan which is Cigna (In Colorado it can rarely be beat)

My retention rate will stay high, I talk to my clients, send out bday cards and quarterly newsletters as well as already set up in Norvax to call them in 11 months. Most of my clients give me a good amount of referrals and it is all because I help them keep money in their pocket and show them how to make insurance affordable, minimize risk and put it all into english for them. I will add my leads are a mix of about 70% internet leads and 30% other marketing avenues.

 

[ABC]

ABC, thanks I am able to write 50% by making sure that when I get past the first 10 seconds of a phone call I'm having a quality conversation. I could care less about a 1 call close because I show my clients my value to them, I truthfully compare all the carriers and then explain insurance to them in a way most appreciate.

I am not that new and do have a good retention rate, I sell about 80% HSA's and really only write one copay plan which is Cigna (In Colorado it can rarely be beat)

My retention rate will stay high, I talk to my clients, send out bday cards and quarterly newsletters as well as already set up in Norvax to call them in 11 months. Most of my clients give me a good amount of referrals and it is all because I help them keep money in their pocket and show them how to make insurance affordable, minimize risk and put it all into english for them. I will add my leads are a mix of about 70% internet leads and 30% other marketing avenues.

What you are doing by following up with your clients most agents do not do. You should consider going after group business.

 

[cusaba]

Companies still have co-pays without deductible for ER on an individual plan?

there is one in Florida Vista HMO.
that's the only one I know of

 

[dgoldenz]

I guess Kaiser might have one here, but I don't sell Kaiser....I don't know of any PPO plans with a co-pay for ER visits.

 

[YouGotMyMoney]

CoventryOne here in FL has a ppo plan that covers ER at a copay.

But they are so uncompetitive in FL, it doesn't make any difference really.

 

[moonlightandmargaritas]

there is one in Florida Vista HMO

Unfortunately, their A.M. Best is only a "B" (fair).
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CoventryOne here in FL has a ppo plan that covers ER at a copay. But they are so uncompetitive in FL, it doesn't make any difference really.

There are some pockets where they can work, but not many...

 

[cusaba]

Unfortuneately, their A.M. Best is only a "B" (fair).
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There are some pockets where they can work, but not many...

I agree... still ER @ copay... some people are ER freaks.

 

[somarco]

We could have had this discussion in another thread. Hard to say and I really don't care to search, but I don't believe a qualified HDHP is allowed to include first dollar coverage for anything other than preventive. I don't know of a single HDHP sold in GA, including KP, that has an ER copay.

If your client is an ER "freak" they need an accident plan, not a built in ER copay. Carriers that offer ER copays are losing their shirt on that benefit which is why they keep tinkering with it by raising the deductible or strictly enforcing the medical necessity rules. An agent would be wise to offer the accident coverage as a separate benefit to hold down increases on renewal.

 

[KarateKid]

Hey for those of you who are a bit confused about HSA's or want more info - I'd suggest reading this article: What Is a Health Savings Account? | Simple Financial Lifestyle - loads of info on there. Hope that helps somebody out