Producers

Posted July 19th, 2018 in Producers

Did you know that a General Agent helps brokers make more money and doesn't cost a penny to the broker? Even after 30 years in the business, we sometimes get confused looks when we tell people that we’re a General Agent. As it turns out, not everyone fully understands the wide range of services provided by General Agents or the value that they bring to insurance brokers. For brokers who don’t currently work with one, there are often misconceptions about why General Agents exist, how they operate and how they get paid. Well, we’d like to take a minute to clear up any confusion.

Posted July 17th, 2018 in Employers, Producers

Many of you are familiar with the reinsurance fees that were charged to health insurance plans from 2014 to 2016, but you may not be as familiar with the risk adjustment program. The risk adjustment program was authorized under the Affordable Care Act (ACA). This permanent program is intended to protect against adverse selection and risk selection in the individual and small group markets (inside and outside of the Exchanges).

Posted June 19th, 2018 in Employers, Producers, Individuals

A lawsuit contesting the legality of the Affordable Care Act (ACA), also known as Obamacare, is starting to gain a lot of attention. Last December, the Tax Cuts and Jobs Act was signed into law. Part of this law made the penalty under the Individual Mandate $0 starting in 2019. Technically the Individual Mandate is still in place, but there will no longer be any penalty under federal law for failing to health insurance.

Posted June 15th, 2018 in Employers, Producers, Individuals

The Tax Cuts and Jobs Act signed into law last year wiped out the federal penalty for not having health insurance (a.k.a. the Individual Mandate) starting in 2019. Some state officials are concerned that the elimination of the penalty could destabilize their local insurance markets, and they have responded with their own Individual Mandate requirements.

Posted June 12th, 2018 in Producers
As a small group health insurance producer, you are always looking to provide your employer clients with the best possible coverage at the lowest possible price. With the Affordable Care Act (ACA) mandating coverage for specific benefits and driving up premiums, this can sometimes be an uphill battle. There are a few different types of group health plans available, and it’s up to you to determine which option is best for your clients.
 
Posted June 7th, 2018 in Producers
As a health insurance producer, you’re always looking for ways to increase your income and grow your book of business. Nowadays, with the ACA wreaking havoc and benefits budgets being slashed left and right, this can seem like an uphill battle. That’s where ancillary products come in.
 
With so much focus on health plans in recent years, ancillary products are often more of an afterthought than an active component of sales strategy. Well, it’s time to give them another look. 
 

Here are the top 5 reasons to sell ancillary products:

Posted June 6th, 2018 in Employers, Producers, Individuals
As a part of Flex’s ongoing 30th anniversary celebration, we’d like to introduce you to some of our staff whose hard work and dedication has helped us to reach this important milestone.
 

Meet Larry

 
Larry Cassman is the Sales Manager for Individual and Medicare Sales. He has worked in the insurance industry for 18 years and at Flex for 11. Prior to that, Larry was a Stock Options Floor Trader at the Chicago Board of Exchange. 
 
Posted June 5th, 2018 in Producers, Individuals
We all know health insurance has an expensive price tag. Even plans with high deductibles and/or small provider networks can come with costly premiums. And for people who don’t have an employer chipping in for coverage, or for people who don’t qualify for premium assistance on the Affordable Care Act’s Health Insurance Marketplace, those premiums can be in the tens of thousands of dollars.
 

Enter Packaged Health Insurance

 
Posted May 31st, 2018 in Employers, Producers
This month’s Ask the Expert question comes from Jan in Alabama. Jan asks:
 
Is it mandatory that each employee meet with the insurance agent to elect or waive benefits offered through a Cafeteria Plan?
 
It is definitely not mandatory that each employee meet with the insurance agent in order to elect or waive coverage in the plan. There are, however, some best practices that employers can put in place when it comes to enrollment in the plan.
 
Posted May 29th, 2018 in Employers, Producers
The Internal Revenue Service (IRS) recently released Revenue Procedure 2018-34 which includes details about the affordability percentage related to the Employer Mandate for the upcoming year. In 2019, coverage will be considered affordable if the employee’s share of the premium for self-only coverage is no more than 9.86% of their household income. As most employers don’t know the household income of their employees, three alternative safe harbor methods may be used:
 

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