Insurance Agent Forum

[Expat]

I have noticed that amongst some agents on this forum there seems to be a virulent defense of HSA plans. Even to the point of implying that clients are being ripped off unless they purchase one.
Whilst I can see the obvious value of these plans, they do not fill the needs of the majority of my clients.
I do not profess to be a writing machine or a super duper agent. However, I have always been one the top 5 producers in any company that I have worked for.
I have explained the benefits of the HSA plans to so many prospects that I have lost count. I have pointed out the benefits and savings of the HSA, including the tax angle, but in most cases I may as well be banging my head on a wall.
Less than 10% of my book are on an HSA plan.
The co-pay plan reigns supreme in Texas, even if it costs $200 a month more, people want the doctor visits covered.
Even if they rarely go to a doctor, they want the visits covered.
Even if they have no kids, the want the visits covered.

Even though the HSA is cheaper (and in my opinion the better value) people still want co-pays.
Bottom line: Give them what they want, and are comfortable with; you are not “ripping them off”

[healthagent]

I see we have agents who use the HSA as their sales "gimmick" - a way they separate themselves from the other agents calling and I can only imagine a way to paint other agents an unethical and not looking out for their client.

If you are selling almost all HSAs you have a sales gimmick. Upon evaluation they are not for everyone nor should they be recommended to everyone.

And the insinuation that other agents are less educated or "unethical" if near all of their books are not HSAs?

I'd flip it and say you are not educated if most of your book comprises HSAs.

There is no single plan designed to fit the needs of everyone.

[dmiller90]

Originally Posted by Expat

I have noticed that amongst some agents on this forum there seems to be a virulent defense of HSA plans. Even to the point of implying that clients are being ripped off unless they purchase one.
Whilst I can see the obvious value of these plans, they do not fill the needs of the majority of my clients.
I do not profess to be a writing machine or a super duper agent. However, I have always been one the top 5 producers in any company that I have worked for.
I have explained the benefits of the HSA plans to so many prospects that I have lost count. I have pointed out the benefits and savings of the HSA, including the tax angle, but in most cases I may as well be banging my head on a wall.
Less than 10% of my book are on an HSA plan.
The co-pay plan reigns supreme in Texas, even if it costs $200 a month more, people want the doctor visits covered.
Even if they rarely go to a doctor, they want the visits covered.
Even if they have no kids, the want the visits covered.

Even though the HSA is cheaper (and in my opinion the better value) people still want co-pays.
Bottom line: Give them what they want, and are comfortable with; you are not “ripping them off”

You are Correct, Its nothing more than OLD SCHOOL SALES TECHNIQUES.

No different than the Post on Dental Plans. 46 Paragraphs to tell us why its a rippoff and does not offer to clients,

It all Boils down to "Are you listening to your Prospect or Talking. Because if your telling, your Selling, and if you are Listening they are buying.

[healthagent]

Well...if you've been on this forum for a while you'll know that if what you're selling doesn't match what some other agents are selling you're an unethical fraud.

Whatever

[thereaper]

You're all correct. Most of my clients have very little interest in HSA's once I completely explain them. If one does purchase one based upon what I've explained I find no one actually sets up the HSA. My wife has one and has no interest in setting one up. I find that if a client has young kids or over 58 and with minimal health problems these are not for them. In fact I discourage both from an HSA and have replaced quite a few MSA's and HSA's

[CHUMPS FROM OXFORD]

In fairness, in some cases, the gap between an HSA and Copay plan might be $300 per month. In others...less than $100.

Sometimes it depends on the area that you are brokering, and of course the specific situation.

[Expat]

[It all Boils down to "Are you listening to your Prospect or Talking. Because if your telling, your Selling, and if you are Listening they are buying.[/quote]

Exactly, I couldn't have said it any better.

[Expat]

Originally Posted by CHUMPS FROM OXFORD

In fairness, in some cases, the gap between an HSA and Copay plan might be $300 per month. In others...less than $100.

Sometimes it depends on the area that you are brokering, and of course the specific situation.

The specific situation rules at all times.

[healthagent]

Originally Posted by CHUMPS FROM OXFORD

In fairness, in some cases, the gap between an HSA and Copay plan might be $300 per month. In others...less than $100.

Sometimes it depends on the area that you are brokering, and of course the specific situation.

Chumps...would that be "sometimes" or 95% of the time?

It seems like you're saying "depends on the situation" while Bob is saying "all the time"

[Newby]

Originally Posted by Expat

The specific situation rules at all times.

I'm green as can be with health insurance. I've sold one policy so far...to me and my wife.

We bought HSAs with $5,000 deductible. I can't imagine why anyone who is putting any money back for retirement (beyond what their company matches in their IRA) wouldn't fund their HSA. Tax-free going in. Tax-free growth. Tax-free comming out if it's spent on health care anytime during the rest of your life. Taxed just like regular retirement accounts if you pull it out after retirement and spend it on non-healthcare.

Like I said I'm green but I do have that right don't I? If I was selling health plans for a living, one of the first questions I would ask is, "Are you putting any money back for retirement?"

[Expat]

Originally Posted by Newby

I'm green as can be with health insurance. I've sold one policy so far...to me and my wife.

We bought HSAs with $5,000 deductible. I can't imagine why anyone who is putting any money back for retirement (beyond what their company matches in their IRA) wouldn't fund their HSA. Tax-free going in. Tax-free growth. Tax-free comming out if it's spent on health care anytime during the rest of your life. Taxed just like regular retirement accounts if you pull it out after retirement and spend it on non-healthcare.

Like I said I'm green but I do have that right don't I? If I was selling health plans for a living, one of the first questions I would ask is, "Are you putting any money back for retirement?"

I can only reiterate, the specific situation rules.
If an HSA fits, sell it, if not, don't

[healthagent]

Mike....we're obviously uneducated. Maybe the high-mountain master can teach us.

[Expat]

Originally Posted by healthagent

Mike....we're obviously uneducated. Maybe the high-mountain master can teach us.

WTF are you talking about, I graduated 2nd grade.

[CHUMPS FROM OXFORD]

"Chumps...would that be "sometimes" or 95% of the time?"

It depends. In my neck of the woods, it is not very often. I assume in many other areas, the gap in rates is much larger.

[healthagent]

Well, for new agents - if you're selling any particular product 95% of the time you're not matching the product to your client's needs - your shoving your personal views down their throat.

[Peelerinsurance.com]

I agree with you boys..... As a broker I have commited to offer pert near every product cause u never know what curve ball u may be thrown... lets see, over the last 3 months i have written... Unicare Co-pay and HSA, Aetna Co-pay, Golden Rule HSA, World Co-Pay, Humana Co-pay and HSA, and BC/BS co-pay, HSA and Ded first plans...

Now American Comunity just got to Texas and even though their rates and bennies dont realy fit the market due to price I will still be contracting direct just to say I have it