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With any luck my appointments should be approved this week and I can begin selling(fingers crossed)....which leads me to this question. When selling a policy ...
With any luck my appointments should be approved this week and I can begin selling(fingers crossed)....which leads me to this question. When selling a policy with a high deductible does anyone generally offer a supplemental plan which would offset the deductible? I'm curious of people's thoughts toward this. Of course all help is much appreciated.
The only thing that you might want to add is some kind of accident plan. Especially if they client is young or has kids from age 3-17. They tend to have a lot more accidents. I sell about 85% hdhp's with HSA compatibility. I don't get complaints from people saying they are tired of paying $65 to go to the doctor. They do complain about the high deductible when their kid breaks their arm and they have to fork out $2-3 grand. When there are women age 35 and up try to go with companies that include first dollar coverage for annual physicals or as an option.
The only thing that you might want to add is some kind of accident plan. Especially if they client is young or has kids from age 3-17. They tend to have a lot more accidents. I sell about 85% hdhp's with HSA compatibility. I don't get complaints from people saying they are tired of paying $65 to go to the doctor. They do complain about the high deductible when their kid breaks their arm and they have to fork out $2-3 grand. When there are women age 35 and up try to go with companies that include first dollar coverage for annual physicals or as an option.
Some of the insurance companies have accident plans that you can add as an option. They are usually smaller amounts $500-$1000. These are a little over priced, but it's convenient ot have one company and most do not require the customer to file a separate claim after they get the EOB. I would think a company like United/Golden rule isn't going to risk losing a health insurance customer because they jerked the customer around for a $600 accident. The problem is that GR won't let you put the accident plan on the HSA plan. Can't figure that one out. Assurant has the Suite Solutions program, American Community includes it in their plans.
I was using VBA but they started having issues. Was then using WBA and they were bought by Chesapeake and they started having issues. I have recently started using AHCO. good price and no problems yet. The problem is that many of these companies get bought and sold on a regular basis, so what starts as a good company can go bad. AFLAC has some decent products and has name recognition and longevity, but my local contact wasn't the greatest to work with.
Ask around the board and you will probably get some good advice. Do your homework (OCI & NAIC & BBB, AM Best) and be prepared to switch if the company gets bought out by somebody looking to milk the cash cow dry.
You also want to look at the customers profession if self employed. Farmers, trades, and such don't go to the doctor when they got the sniffles. They will go to the ER if there is blood or broken bones, and they ran out of duck tape.
Actually, the term "Duck Tape" is a brand, whereas, "Duct Tape" is the generic use of the tape popularized by the HVAC industry.
As a good boy scout, I always carry duct tape with me everywhere... As a matter of fact, back in the day when I raced my sports car, everyone had a roll in their tool kit. It was mandatory! I made it around the track more than once with my fender held on with about half a roll!!!
And the best quote: "Silence is Golden.... Duct tape is Silver"
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I wondered if anyone would catch that. People butchered the name for so long that one enterprising company branded "Duck Tape". I think it's made from the stuff that holds the ducks feathers on.
I wondered if anyone would catch that. People butchered the name for so long that one enterprising company branded "Duck Tape". I think it's made from the stuff that holds the ducks feathers on.
With any luck my appointments should be approved this week and I can begin selling(fingers crossed)....which leads me to this question. When selling a policy with a high deductible does anyone generally offer a supplemental plan which would offset the deductible? I'm curious of people's thoughts toward this. Of course all help is much appreciated.
Thanks,
Lou
I'm working with Colonial and we offer a product that will actually lower the deductible to ZERO, Just gave a quote to a local school and they can raise the deductible,lower their AP, and get our product and get a ZERO deductible. It saved each employee 500 in yearly savings and saved the school 20K each year.
People who buy a high deductible plan and are unable to access benefits will invariably shop around for something cheaper and you'll lose your persistentcy. I always add an accident plan or a dental plan as a part of their "package" because otherwise they don't feel their coverage is doing anything for them.
Originally Posted by loudee
With any luck my appointments should be approved this week and I can begin selling(fingers crossed)....which leads me to this question. When selling a policy with a high deductible does anyone generally offer a supplemental plan which would offset the deductible? I'm curious of people's thoughts toward this. Of course all help is much appreciated.
Suppose you owe a doctor $80. Is it smart to pay somebody $100 to pay it for you? That's how low-deductible insurance works.
Check the premium difference between a $250 deductible and $500 deductible. It's usually an extra $300+. Carriers have to charge to pay those small bills.
Agents who want to do the best for their clients sell HSA/HDHP. People who want small amounts covered don't understand insurance. It's the agent's job to educate them.
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I thought this WAS a real job!
High deductible plans
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