Industry sign banking iowa rfp myself
okay looks like most people are pretty set up I just wanted to introduce myself I'm Tammy I'm the field development manager here with a HCP we have the pleasure of having Dan Dalton with national Jenna general with us to cover the benefit solution program the self-funded program that's for small businesses he will be going over some great information today on some of the tools that they'll be able to assist if you're interested in working for the you know self-funded program working with businesses that deal anywhere from a to employs up to 200 employees depending on the state and location dan and go ahead it's all yours all right thanks can you hear me okay I can yes thank you okay just want to make sure all right first and foremost again my name Dan Dalton I work with national general benefits solutions I specifically work helping agents at HCP so our small group self-funded program another word first self-funded this level funded and I'll explain very shortly but obviously we're heading into fourth quarter in the majority I would say if you talked about percentages seventy-five percent of companies will renew their small group insurance fourth quarter of the year already getting quite a few quotes but there's other opportunities for all of you especially a lot of companies and and had individual medical plans for their small groups and it is against the law now for them to payroll deduct contribute toward that premium that's when the Affordable Care Act was add event you know started a lot of people took group policies and move them over to individual medical policies and now it's just going reverse circle back to group policies and we'll talk about a little bit further so looking forward I'll keep this as informative as I can since it sounds like we do have a larger group I'll say well let's refrain from questions and that certain times throughout the presentation I will say is there any questions especially and we're talking about the inner workings of how these plans work but most importantly I just want to say thank you for taking the time out of your busy schedule I'll make this as informative and hopefully even get this done with the next 30 minutes or so and hopefully you know we can maybe help you up build this product and and have a lot of you add this to your portfolio so what I'd first like to do is go to the next screen and I'll keep this fairly brief but just kind of talk about national general itself I'm very big in the auto insurance as you'll see here 1.5 million homeowners insurance 5 million commercial lines 6 billion reinsurance you know insuring insurance and then you'll see the assurance health employee bed a quick synopsis is many do remember I'm a short health national general purchased my division the small group level funded division plus our supplemental products in October of last year we've made some great changes we've combined their self-funded product with ours to I believe probably to give the best level funded product on the market right now but to give you a number you can see Assurant health and our small group division it says 3 350 million we probably sold around 380 million dollars of small group insurance last year the next screen obviously this is kind of shows national jungle's footprint with a lot of the carriers and obviously you'll see a HCP Vella point many of you may be aware of I exclusively work with a HCP and they'll appoint and then I also work with healthcare solutions team exclusively work with with them selling our small group level funded plan and you know to talk about success because you know I get health care solutions never really even sold any group insurance so I actually started working with them last year and they literally had 0 small group on the books and after last year we sold close to three million dollars in our first year with health care solutions so I'm hoping to generate some issues with all of you and then in October 2015 that's where you will see a surance self-funded program was purchased by national general that was the official date that the changeover did take place so just showing here national generals large footprint in the health insurance industry and then on the next screen you know just a little brief synopsis here the national general benefits is wholly-owned unit national general insurance obviously you can see there into many insurance industries but what's really great is is what I like to focus on is the expertise and I'd like to say that comes for me because I am your sole contact which is very nice about that has been doing this for quite a long time I know this product very well I know the direction we may have to pivot in in certain certain times but again as nice as I am your so contact from the beginning of the process to the end of the process so now where you're going to be talking to five different individuals I'll discuss that further how you actually have your own sales support working with me with my sales assistant and administrative assistant and then we'll just go to the next screen here and this is what we're going to talk about level funded and I'm going to tell you what you know makes us a little bit different compared to small groups that are fully insured and when I say small group fully insured compared to self-funded or level funded the main thing is is we are going to ask for applications when we look to get firm rates with our small group and by doing that these four bullets in the orange what we call are going to be level numbers so a lot of times you're going to hear an employer say hey I have a plan I think it's a great opportunity for your company it's a self-funded program really the terminology should be level funded because when you see what these four bullet points they're all set numbers level numbers all right so one nice thing about our plans is it is one predictable monthly payment all the employer ever has to worry about is after we go through the process and applications and Ephrem rates if they just send in one check number two the employer does have much better control over the healthcare expenses due to the fact that we know what health risks they're bringing out to the group all right we will have them answer the medical applications do they have high blood pressure do they fi cholesterol many of those conditions are rated stay however we have we know what the health is and that's pretty beneficial because we're only trying to ensure the health risks are bringing onto the group and nothing more another positive is more control over health care expenses and their premium is that come renewal time we know their health there are no you know we know what we're going into PI into next year number three is the stop loss insurance what that is is is there's a portion of their premium that protects the employees from higher-than-expected claims meaning there is is there is a portion of the premium that what that amount is is the actual cost of the insurance and I'm going to explain that on some future screens and then one of the greatest benefits of our plan is is the employer does have potential to receive money back at the end of the year potential for reap front basically I'll if they come if the group's claims and we'll have what we call a claims bucket and we're going to take a certain amount of money out every month that goes into that bucket to pay claims if there's money left over in that bucket we are going to return that in a check back to the employer all right so one predictable monthly payment they do have control over the healthcare expenses one stop loss insurance heaven forbid we do have that a million dollar claim and then they do a potential for a refund at the end of the year so what I'd like to do in the next screen is is I just kind of saw a side-by-side comparison and you'll see I'm you know caught details and then you'll see on top groups fully insured again those are plans that are guaranteed-issue normally what that is is groups under 50 do not have to complete applicant medical applications however what they're going to do is they're going to rate a basic on the geographical area tobacco use they're going to rate it on the size of the census and the number hoping they cover claims well you can look at our plan the ng BS self-funded plan where we do underwrite and you can see there that what I did is identical plans $2,000 4000 individual family deductible 100 coinsurance utilize the yet in the signature ppl proud the best PPO Network in the United States and you can see unless you to go down to total employer costs this is where you can see the difference of what we could do with our plans compared to the fully insured 9000 607 compared to sixteen thousand six hundred nine dollars quite a savings no I always want to make this clear not every group is going to see this the savings due to the fact as we could get applications back and have a very unhealthy group alright so but how this plan worked out is we actually save this company this amount of money and then you're going to see where it says twenty five thousand and forty three thousand eight twenty six I'm actually going to explain what those numbers are on the next page and this is where actually I explained this page I'm going to actually open it up for questions at this time so right now we should be at the page that says stop-loss insurance limits and this is pretty much the second page of the quotation the first page what I'm normally going is going on we're going to have your plan options I normally don't give more than four plan options per quote can get a little confusing for the employer I'm normally going to ask you do they have a current plan design if they do great I may give other options past that if it's a virgin group who does not have any insurance all I actually have to coal plate pans and to health payments comp plans that are the best price points and it gives a good range of pricing between copay and HSA plans those quotes that first page it looks is exactly like any other medical insurance and I can't emphasize that what I'm going to explain on this slide is just the inner workings of how the employer has the potential get a refund however as far as the medical insurance acts feels is just like any other medical insurance all right again a lot of times we may get a little kickback saying boy self-funded level funded the only thing they that is the difference is that they have a chance to get money back at the end of the year as far as how the insurance works we saw mandated coverages exactly like any other insurance on the market but what I like to do here on this screen is this is how I'm going to show you exactly how then refund potential works and how we actually break down our total premium so when I'm explaining this and on a conference call with you two with the employer we always start on the bottom where you're going to see total nine thousand six hundred and seven dollars that amount is literally broken down into the three numbers right above them and I'll explain what these are and if you're taking notes you can write down the terminology I use the stop loss premium is another word for the actual cost of the insurance three thousand six hundred and seventy eight dollars the admin sales general expenses 2002 76 what that is is we do have to pay our PPO network say the Aetna signature or Cigna PPO we do have to pay our CVS Caremark who are prescription discount plan goes through our third party administrator who keeps tracks of all claims explanation of benefits and I see your Commission's are built into that number when we're explaining this to a customer we don't tell them that the Commission's are built into that number obviously but the third is the biggest number three thousand six fifty two it's called the claim pre-funding what we are doing is out of that nine thousand six hundred and seven dollars a month we're pulling out three thousand six fifty to two fifty two and putting that into that claims bucket meaning let's say they chose a plan with a forty dollar office visit copay so after discount of that office is that the bill was a hundred dollars the employee pays their forty dollars so a hundred minus 40 is sixty dollars that's the clean portion sixty dollars would come out of that three thousand six fifty two for that month no three thousand six fifty two and again I always emphasize this to the employer that is not extra money it is built into the premium and we are actually keeping track of this for the employer they do not even have to worry about this but if you take that three thousand six fifty two that we are taking out of the premium monthly and you would times that by twelve months if you slide up you'll see where it says annual aggregate limit on the top of the page the annual aggregate limit is just a fancy word for the total claims bucket or refund bucket three thousand six fifty two times twelve months equals forty three thousand eight twenty six so that is their claims bucket a refund bucket so the employer is paying claims up to forty three thousand eight twenty six if they ever get that high now what we are doing is calculating with the applications we put in a hundred and twenty five percent of the expected claims so we had extra money in there now granted we don't know someone is just diagnosed with cancer has a quadruple bypass surgery we don't know those things however we're giving a fair number for what we expect claims to be or they could be all right so here's the option at the end of 12 months they have money left over in that forty three 8:26 they will get a refund check back we do have what we call a six-month waiting period all right so what that means is that the policy goes for twelve months and then we're gonna wait another six months to see if any late claims or complaints coming through we don't give a refund check back and then have some late claims come through and say oh you know we all some money so we'll do a six-month run out period so they technically will get that refund check on the 18th month of when the policy started no let's say they have a very tragically they have a very they have some numerous things happen they have two people who has quadruple bypass surgeries and they have someone who's diagnosed with cancer and they have a million dollars worth the claims there's no risk to the employer they just would pay their 9607 dollars a month national general pays all claims up and above forty three thousand eight twenty six the only thing that's where they on that first orange bullet point one predictable monthly payment it stays the same once we have firm rates for twelve months there's no risk to the employer another protection is if you see above the annual aggregate limit is what we call these specific deductible and when you see specific think individual so we do have that person who needed a quadruple bypass surgery and has a four hundred thousand dollar bill the most we'll take out of that claim market of 43,000 is 25,000 for that individual and that helps protection to save that claims bucket for other individuals throughout the year now one thing also we work with you know and I guess before we start there I mean this is a point where I normally open it up for questions you know it's a lot of numbers they went with but is there any questions at this point in time at least how the claim prey funding works the refund works there's no risk to the employer any questions at this time there is one question and it looks like if someone has a did you say groups of 50 or less do not have to fill out applications we've been open what it is on our plans no matter what size group they have to fill out applications all right to clarify that comment our competitors who sell what we call fully guaranteed issued group policies many of them will not request applications for that type of plan until you get the 50 employees enrolling so for our plan we're always going to have applications completed because that's how we're going to calculate that claims bucket and refund bucket our competitors fully insured guaranteed-issue plans in most cases will not ask for applications until they get to 50 employees any other questions there all right and then we'll keep moving so now
in the middle you'll see there's a four tier rating and how we work our plans is there employee employee spouse employee child and family we have four tier rating so what that means is is you can see the employee rate we have nine and nine employees at 360 186 so if you have someone who is thirty years old or 55 years old that rating is 361 and we do not do age banded rating for our group's employee spouse employee child in a family rating family rating also you could have two children three children five children that is the family rating but how our plans work is in actuality when when we do this type of four tier rating it actually helps the overall rates for it group now the employers really like this as far as paperwork on the back end because once they have this rate they know it's very simple for them they know hey I know my employee rate is three six you want they don't have to look at and call up and find what the age rate it is and then calculate what percentage they were going to pay toward that premium alright so employers very much like the simplicity of how our plans work now when we have small group insurance the portion that the employee employer is required to pay to qualify for a small group policy is fifty percent of that employee rate so you can see right here the employee rate is three hundred sixty one dollars and eighty six cents per month so you take that three sixty one and divide that by two the employees paying a hundred and eighty dollars and the employers paying $180 no they can pay more if they want but that is the minimum requirement that they would have to contribute on a small group plan any questions on that okay let's go to the next screen and we'll talk about some of the unique program features of our plans compared to our competitors we just talked about the four tier rates now we have the flexibility with our plans is when we're filling out the final paperwork the employer has the opportunity to on our plans offer insurance to part-time workers because our plans to be eligible to be on the insurance we can go all the way down to 20 hours per week obviously we can go to 40 plus alright so if the you know a lot of times the employer says I do want to offer insurance to my part-time workers we have the benefit that we can go down to meet that requirement at least averaging 20 hours per week now that also helps us regarding flexible participation what you see here is sometimes you know they're like boy you know we just really want to offer insurer to our people who work 40 hours a week so if you put 40 hours a week they do not have to offer insurance to someone who works 30 or 35 hours a week all right that's a way to wean outs participation and really look at the certain type of employees that they want to insure now a very popular feature of our plan is when they don't have listed on here but we will insure 1099 employees in the last three months I can't tell you how many 1099 employee groups that I even shirred it's something that our competitors do not do I mean you can look at real estate firms sales types of Ferns financial firms it's become very popular and it's definitely a market that is being untapped right now another very beneficial type part of our plans that are in our carriers do not like to do also is is we can cover employees in multiple locations multiple states meaning we have a corporate headquarters in Ohio but they have employees in Indiana Michigan Wisconsin if they work for that company and they're just located in those multiple locations we can put them all under one group coverage let one group I saw it I had employees in seven different states it's a huge thing that it makes it so much easier instead of having different policies in different states that we can put them down under one umbrella it's a huge great program feature for our types of our plans now market niches this is where I want to talk about group size and this is where I want to talk about where you are going to have the most success with our products I will not lead you in the wrong direction we can't go down in most states down a tune place they cannot be a husband and wife all right they have to be you know two employees not a husband and wife I will be completely upfront none as to employee groups I don't want to say our most price efficient plans that's why in this presentation I have five meaning really like to have if we can five total employees enrolling if we're going under five it's really nice to have spouse and children to add more members plain and simple fact on group insurances the more members we have the better pricing we will get all right so we can go under five we can go to two can't be a husband and wife if we're under five it's really beneficial beneficial to the offering insurance to spouses and children also now I do have here up to two hundred we can go above two hundred but here's the the challenge we will face if we're looking at those larger groups is again we are going to ask for applications to be completed now the applications literally are yes or no answers if you're taking a medication please list it down if you check the box like Crohn's disease we are going to want to know the date of diagnosis any treatment and any medications you're taking however when we get into the large group space we do not experience underwrite meaning you know they'll take a look at a claims report and give a price we are going to have them fill out applications and it's tough when we get to group starting at you know I'll be honest even over fifty for them to take the time to fill out those applications we are very close to having online applications but they still have to complete those so I know we've quoted groups up to the 300 range all right however it's hard to get those applications our selling strong point our groups from five to thirty all right if you're going to go out and target I will tell you that you will have the most success with our product if you're targeting groups of five to thirty employees and rolling all right and obviously we can add sponsors and children to that and I can tell you you know you get a 25 person group a 20-person group even a 15 person group you know depending on what plan designs they're taking you know you're talking plans of over a hundred thousand dollars all right so there is substantial monies to make in that realm but that is the size group and I are going to have the most success to tell five to thirty all right now in industries that I'd like to call on first and foremost we should you know if you get an opportunity you and I will work it work that project together so many of you have never sold group insurance before so any opportunity we get a quote we should quote it however there are some industries that maybe have a younger healthier group compared to other industries and those are more on the right-hand side IT retail auto dealerships Moving & Storage one thing I don't have listed on here and I'm going to update this as I've had some great success with landscaping companies IT companies are very popular because they younger groups normally fair or not fair male-dominated groups are less expensive than if we have a female dominated group ok hospitality and food service you're something that agents say I'm gonna go after that they're young and healthy well the issue I just always want to make sure that agents understand if you're going to go after the hospitality and food service is first of all they don't make a lot of money all right so a lot of them can't even afford the surance even if we come in with a great price because ultimately what happens and I see the majority of the time is will quote a restaurant with 40 employees and when it's all said and done maybe seven of them take the insurance so if you're going to target hospitality and food service be aware that what you start out with probably isn't where we're going to end up all right but I've literally written groups in every imaginable industry doctor's office dental offices manufacturing companies auto dealerships everything you see here now one thing that I exclusively used when I was in outside salesperson and that was a hundred percent commission the outside salesperson for 15 plus years is I used and many of you may know this reference USA all right there are lead generators you can do obviously you know referrals you know people you know but I exclusively when I was targeting companies to call on use reference USA where I literally could target a zip code a certain size company type of company and I would put that in the search on reference USA and it would spit out twenty-five companies in that geographic area that I could call on all right I highly recommend using it I used it through my the library because it was free access if I was in the office worked out extremely well so if anyone needs help with that please let me know and I will help you how I utilize that but that is literally how I built my business okay now let's talk about plan designs because this is um you know something that's you know compared to our competitors is a very nice thing to is most cases we do not have set plans besides a few states and again I don't need want you to have to worry about this but because I'll tell you what direction you have to go in however we can mix and match any type of benefits so we are going to though always use a PPO we do not sell an HMO doctor or hospital network okay so in most cases we are going to quote the Aetna signature PPO or the Cigna PPO alright we also have HSA plans health savings account plans we can we sell HRA plans deductible options we can go in some states down to 250 most states or 500 in many states we can go up to 6,600 so when we're quoting a plan we can literally find a plan that's going to work well for them because they're not canned plans we can have em ducted anywhere from 250 all the way to six thousand six hundred multiple coinsurance options 100 percent ninety ten 80/20 70/30 we have plans both with doctor or prescription co-pays we have many ranges of copay options also and also we also preventive services covered at a hundred percent all right so they go in for the annual checkup our plans meet all the mandated coverages of each state maternity substance abuse alcohol abuse mental behavior all part of our plans now the next screen is a screen that where we have planning options we're actually going to bypass this screen just due to the fact that it's nothing that you really need to be worrying about I'm going to guide us and what product were going to sell depending on the state and group but I'd like to go to the next screen which would be a offering by state in what I'd like to do on this screen is not don't necessarily look at you know ten enrolling tick greater than fifty but this is a screen that I'd like to tell you where our most competitive states in because when I look at my job with you is I need to tell you where you're going to have the greatest success the states in the blue are our most competitive states okay so you can see the states in the blue but also and I can get some better information to tammy also but starting there's other dates that we're very competitive since we've had rate decreases in on the state of Iowa our rate starting on twelve one are decreasing twenty to thirty percent almost across the board across the country our rates are decreasing ten percent it shows you how this plan has been very profitable and that we can actually lower our rates compared to our competitors but the state of Iowa had the greatest decrease in price of twenty to thirty percent if any of you do quote our quote in the state of Iowa or if you want to quote in the state of Iowa it is instant competitiveness in the state of Iowa another state where we are going to be extremely competitive starting 12-1 is the state of Florida all right where I've had the most success recently has been Arizona Kansas Illinois Georgia South Carolina now there's also some other states in the yellow where we are extremely competitive also I just have enough time to change the screen here and I'm actually going to tell you Tennessee Missouri Nebraska all right so that's kind of why I like to have that screen on the next screen here this is very important because you're going to get this question because again people get you know I don't to say they get very nervous but when they hear self-funded they're say boy I mean is it a special type of plan not at all and acts feels is just like any medical insurance your standard line is hey the only difference is you're going to need to fill out applications because you actually have a chance to get money back at the end of year however yes our plans meet all minimum essential coverage is of the Affordable Care Act all right we meet all minimum value requirements we do abide by all state mandated benefits aneasha essential health benefit requirements all right no simple court process I like to say it's literally a three-step process alright first is is we really can't go nowhere unless you provide me with a quotation request I have a standard census form Tammy may have it if not I'll get it to Tammy or you can reach out to me directly and we'll get it to you but basically our first step is Dan I've got a census here okay so okay send that to me on that census form I have all the information I need to quote I need a physical as if go to the company I actually don't need and put all individual employees zip codes I just need the physical zip code of the company need the name of the company and I do need to know what what actually does that company do alright because I do have to enter an si si code and then all I need is you don't even have to if you don't want is give me employee names if you do I will enter them however I need to know the employees gender date of birth and if we are going to include spouses and children I do need a spouse's date of birth and how many children that is all I need to start a quotation for you I have on that quotation page if they have current benefits can you please put those down if they don't as they said I'll quote two co-pays and two HSA plans to start you'll send that to me I'll work up the quotation you know email it to you I'll immediately with that application email you the applications for that state if it's a state specific application and I'll say let's review especially for most of you who've never written a group plan before I want you talking to me before you present to the customer all right I will teach you how to sell the product based off of that quotation all right if you say Dan are you willing to do a conference call with the employer of course I will the only thing I ask is that you qualify the group meaning hey with this quote or is this pricing within your budget and are you sincerely interested please qualify that if they are I most definitely would do a conference call with you and talk to the employer so let's say we do that conference call the employer says I like how this product works I'm very interested next step is for them to fill out applications we have them fill in applications you send those to me I'm going to send them to underwriting that's step number two underwriting sends me what we would call an underwriting load meaning maybe we had to increase that price due to the fact that we did have somebody who has Crohn's disease all right we do have someone who has some medical conditions all right I'm gonna call you and say okay this is where we're at with the underwriting load I write many groups that are rated standard from the price we started is the price we sell it maybe it's gone up a little bit I will talk to you about that alright I'll ask you do you think we can sell it at this price or I might come back and say hey I need some more information on this health condition because I think I can get this underwriting low down if you can help me so there's a lot of work I'll be doing behind the scenes that you won't know about to get you the best rates so once we get to a final rate that's where step three we're going to close the business together and the employer fills out the what we call the employer submission kit and we've sold our first group so it's a three step
process and again I will assist you every step of the way any questions there on the quoting process because that's important there any questions on that Tammy no but not in that person okay excellent all right and then I'm close to that thirty minutes as I promised so let's we'll kind of go through this with the culture you know it's nice um what I'd like to say is quotes I can normally turn around same day or 24 hours I know how important is for you when we're trying to close business to get quotes back I'll never forget when I was asking for quotes and I wouldn't hear anything for a week how that would you know drive me nuts I won't do that to you and if there is going to be a delay I will reach out to you underwriting that's where if you get me banking applications in most cases we can get underwriting and our final rates back 24 to 48 hours advice I would definitely tell you directions we need to go let's say we run into some complications or some issues that we have to discuss I know many avenues that we can pursue or what we can offer the employer to help us sell the group and obviously my job is to offer you to help you sell more business and when I say that is when we sound group insurance I can't you know over emphasize that you have every opportunity to sell any type of supplemental insurance with these group with the group's dental vision AME critical illness you know it's just another great way for you to make more money selling group I mean I can't tell you you know and it does happen where we don't get the group business however the agent sold 20 AME policies use it as a marketing tool hey we might not get every group but now you're in the door to sell them other products next screen again innovative product we've been sent were key selling this product for over 15 years top notch sales support you work with me exclusively if I'm not in or if I had you know you need an answer immediately Tammy as my sales assistant will answer your phone call and then on business that we have wrote that is on the books you actually work with me will have your own administrative assistant on groups that if you have a question on all right and then on the last screen it's got my direct number it has my email address and I thank you for all your time like I said I try to keep this within 30 minutes because I know everybody's time is valuable and at this point we'll open up for questions hi there okay here we have a couple first question that had came across can new businesses any new businesses apply oh can you hear me hello can you guys hear me ah there we go okay so Dan if you if you're able to hear the first question that had came up was can any new business apply we might have lost audio with Dion I am there Dan to be loose audio with you hmm we might have left some audio or left lost audio I apologize with Dan what I have here though is I do have several questions from the group I will be working with Dan on answering some of these and make sure that you all get responses also this is a recorded webinar so it will be available in our training library and I also try and follow up with sending out the link for you guys to be able to access that video if you want to review anything you know further just kind of go over some additional information I do apologize that we've lost some audio with Dan I was hoping that he would be able to finish up I hope he's still able to hear us just kind of going through you know let you guys know that if you are needing to get appointed at all feel free you can reach out to agency services this is a benefit group a through a TI C formerly Assurant you can reach out to agency services at two contracting at eight VP sales comm they can help you out if you're not appointed already if you're appointed this is something that you do have available to you it is for the benefit solution group it's in the small business and it should be there in your appointment so as long as you have that writing number it is something that you do have access to if not as I said feel free to reach out to agency services at Dean at age CP sales calm and we can get you that appointment setup moving forward if you guys have any questions please feel free to go ahead you can reach me directly at five zero three four or five nine zero four or five seven or you can reach out to Dan his contact information is up on the screen I can kind of help navigate some of that information or you know just send it directly over to Dan if it's something that I'm not able to assist with and he has the answer to we do appreciate everybody joining us today and we will definitely make sure to send out a response to everybody's questions and get that taken care of for you all I hope everybody enjoyed the program and look forward to everybody getting out there and working with those small groups appreciate your time thank you so much
