Health services for small businesses, ACA, and Brokers - What is the next

Health services for small businesses, ACA, and Brokers - What is the next -

the Affordable Care Act (ACA) caused a big change for brokers - a change that has meant new challenges, frustrations and unknown. Is there a silver lining? For many brokers who are wondering how to structure their business and retain customers, it seems a silver coating is simply not there. However, the ACA has opened new doors that allow brokers to retain customers and attract small business prospects. How? In this article we will explain how and why dealers can remain relevant in the world of health insurance by serving as a hub for small businesses.

Individual health - an alternative focus for brokers

as a broker, you know the ins and outs of health insurance. And customers rely on you for this. So why not apply that knowledge to the emerging market where individuals more than ever people need expert advice?

With the individual mandate, the individual loans from tax on health insurance , and individual markets news of Medicare, more people than ever are buying individual coverage and need your expertise.

For many of these new consumers of health insurance, it is their first time in the driver's seat. Health insurance brokers are required to help consumers understand the options and help provide the tools and knowledge necessary to make a decision. This is your chance to help individuals and small businesses. But how?

Where Brokers can still make money

The ACA has changed the way dealers do business, but there are means that you can turn a profit when working with individuals and companies. We'll talk in each direction below.

But before entering the avenues where you can make money, it is important to understand one thing. Regarding individual health insurance, there are many opportunities for you. For example, only 54 percent companies with 3-199 employees offer health benefits in any form. This literally leaves millions of potential customers who need health insurance, but are not sure how to get it and what is their best option. Again, this is where your expertise comes in. This is where you become the hub for individuals and small business owners.

Now, knowing that there is a potential sea, we will enter two ways to make money and stay relevant

pure defined contribution and individual health insurance :. Small businesses rely on brokers to evaluate new options for coverage. Small businesses (with fewer than 50 employees) are not mandated by the ACA to offer traditional health insurance, so many small businesses are turning to brokers to explore affordable alternatives to traditional health insurance as a "pure" contribution health plan determined (Medicare ie benefits).

defined contribution plans and individual health insurance is an ideal solution for small business clients or prospects who have canceled their group health insurance policies, or are looking an affordable alternative to group health insurance. By offering a defined contribution solution (such as ZaneHealth ) you generate income in two ways. First of all, you can usually earn commissions on the contribution of solution defined sales. Second, you have a lead generation tool for sales politics. Companies that use solutions defined contribution (as ZaneHealth) direct employees of you to find a health insurance individual policy.

In other words, be your hub for people who do not have a health insurance plan, but need one. Because many people are used to the traditional group insurance plans illness, they do not understand how to evaluate and choose their own health plan-- this is your opportunity to help them find a plan.

auxiliaries: In addition to the increased sales of individual policies, defined contribution helps you develop the sales of ancillary products. As you help customers understand the different health insurance policies, and help them spend their allowance defined contribution, you have the opportunity to present auxiliary products.

Conclusion

One way to prosper in the changing landscape of health insurance is to offer defined contribution solutions. With this approach, you become the hub for small businesses and their employees understand health insurance, and help them spend their dollars to Medicare.

What questions do you have about your future as a broker and help provide health benefits for small businesses and individuals? Comment below.

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