Benefits Buzz
Opportunity's always knocking. Just open the door.
If everyone knows that a bird in the hand is worth two in the bush, then why isn’t cross-selling a universal practice? Cross-selling is a great tool for client retention, as well as prospecting. Your clients and prospects may not be aware of the full portfolio of your offerings.
So, don’t think twice about reviewing all options during the renewal/enrollment process. This is your opportunity to suggest how they can enhance their benefits program. And yes, even if they feel satisfied with what they offer currently.
More and more, employers are starting to offer high-deductible health plans (HDHPs) in their benefits program. Correspondingly, the rate of employees enrolled in a HDHP has grown year-over-year. Even though this isn’t the standard health plan option you might be used to, here are four reasons to be thankful for your HDHP this enrollment season:
- Covers 100% - Just like a traditional health plan, basic preventive services such as vaccinations and wellness exams are covered at 100%! You can stay proactive with your health care and save money.
In their own words, politicians on either side of the fence agree that the middle-class is hurting.
“Middle-income families are being crushed.” – Mitt Romney
“The Middle Class has been buried.” – Joe Biden
A hot topic during the 2012 presidential election has been health care reform and the Affordable Care Act (ACA). American workers are paying more out of their pocket for health care expenses than ever before. No matter which party line you side on – everyone seems to agree that the financial burden carried by the middle class is disproportionate in one way or another.
The Affordable Care Act may have some health insurance producers feeling anxious, but the proactive producer will stay educated and know every option out there to remain a key player in the distribution of health insurance. From timely topics such as Medicare, and trending topics like consumer driven health plans (CDHPs) and our own private insurance exchange, which was designed with the producer in mind – we are discussing what matters most to your future – right now!
According to an estimate by Kaiser Health News, a couple retiring in 2012 will spend $240,000 on health care expenses. Statistics also indicate that a majority of employees (consumers) save virtually nothing on their own for retirement, other than through employer-sponsored plans (i.e., 401(k) plans).
There is an elephant in the room and people are starting to take notice. Flexible Benefit Service LLC (Flex), in a nod towards National Save for Retirement Week (a congressionally endorsed, national event that takes place from October 21 – 27, 2012) is featuring the capabilities of a health savings account (HSA) repurposed as a smart way to begin to save for retirement.
According to a recent release by the U.S. Department of Health & Human Services, the Affordable Care Act will save the average person with traditional Medicare $5,000 through 2022.
Yesterday, millions of people in the U.S. became eligible to shop, compare and reexamine those Medicare plans. This combination of having the opportunity to save a sizeable amount of money during this limited time has lead to the phenomenon commonly known as the “annual enrollment period” or the “open enrollment period”, which sends millions of employees, friends, and family members into a shopping frenzy (this year lasting from October 15 – December 7, 2012).
