One-size-fits-all works really well for hats, but when it comes to healthcare coverage, that mentality ends up costing business owners A LOT of money. Why, you ask?  Well, chances are the last time you evaluated your company’s healthcare needs, your broker tossed a few non-personalized plan options your way and you chose the one you thought looked best. Maybe it was the cheapest? Provided the best value? Best Network for your area?  Whatever the case may be, you chose from a few cookie-cutter options tailored to the lowest common denominator and now, unfortunately, you’re paying a p ..read more

From how we order a pizza to the highest reaches of government, technology is impacting and shaping every aspect of our lives. This technology shift now includes insurance, specifically health insurance. This is an exciting change since, in 2015 the health insurance industry overall was rated at the bottom of the digitization index by McKinsey.   This technology transformation in the health insurance field is allowing for reduced costs, increased efficiency, risk mitigation, and enhanced customer satisfaction. All while increasing the industry’s ability to adapt to the ever-evolving regu ..read more

While speaking with a Broker a few weeks back, I asked whether or not his agency was presenting ICHRA (Individual Coverage Health Reimbursement Arrangement) as a possible solution to his clients.   His answer? “I know that if I offered ICHRA, I would increase my book of business, but I am hesitant.”   I was surprised at his response. Why would he be hesitant to offer an ICHRA that is profitable, efficient, and good for his clients?   An opportunity waiting to be taken!   I shared with him that evidence shows, “Brokers that offer a full complem ..read more

Recently, I have been spending a significant amount of time speaking with Wholesalers. Brokers, Carriers, and Third-Party Administrators, regarding the issues members of the Broker community are experiencing. Through all of these conversations, a consistent theme has appeared; the Small Group health insurance market is drastically underserved.   Small businesses are the backbone of the American job market. The Small Business Association cites that 98.2 percent of US businesses are comprised of less than 100 employees, and a whopping 89 percent have fewer than 20 employees. Access to affo ..read more

Traditional group plans have long been the go-to for the majority of employers in the United States, but these plans come with some distinct drawbacks.  Group plans can be complicated for employers to support, and force employees into a “one size fits most” solution, that might not offer proper coverage to all enrollees.  Moreover, group plan premiums are consistently on the rise, sometimes by double digit percentages each year.  One employer I spoke with told me, “(e)very year at renewal time, I hold my breath until I see ..read more

For Immediate Release: June, 2020. Candor USA has announced that Nick Shirman joined Candor USA as Director of Sales to lead and support MGA and Wholesaler relationships.   Candor USA empowers MGAs and Wholesalers by providing them a digital platform maintaining the Wholesaler Brand, Business and Brokerage. This technology enables health insurance Brokers to analyze current and potential risks as well as provides viable solutions to help businesses, regardless if the company has one employee or 5,000 emp ..read more

Let’s face it, the world is becoming more digital at an astounding pace. Wholesaler insurance brokers must adapt to the ever-changing market and find new ways to attract and keep new clientele. 2020 is the year of solutions!  Technology and innovation are working together to bring faster solutions to everyday wholesaler challenges. We put together a few suggestions to improve the relationship between wholesalers and broker clients.   Communication and insights into the Industry is key   Past interactive relationships between brokers and wholesalers were mostly on an a ..read more

According to industry statistics, the average age of a broker or insurance agent is 60 years old. It was anticipated that by the end of 2020 twenty-five percent of insurance industry workers would be retiring. Now more than ever, the need for insurance brokers and agents is critical to the success and longevity of the profession, as well as for the clients they serve.   That means millennials need to be a key focus of your agency’s recruiting and succession planning strategies.  Millennials make up more than half the workforce and their influence in the way we do business can widely ..read more

Millennials make up more than half the workforce and yet roughly 20% lack healthcare coverage. This number of uninsured millennials has grown steadily over the last 4 years. So why does the largest generation in the country have the highest rate of uninsured adults? According to a 2019 Transamerica Center for Health Studies survey, the challenges facing millennials and why they are not buying health insurance include:   #1.  Lack of knowledge regarding the application process   Solution. With so many healthcare options to choose from in this digital age, finding a starting ..read more

Telemedicine Contributes to Efforts to Restrict the Spread of COVID-19 You are being bombarded by public announcements and health awareness campaigns, but there is a solution to one of our fears in these troubling times. Now is a good time to consider working remotely and accessing remote healthcare as well.   Because there is currently no vaccine to prevent coronavirus, the best way to prevent illness is to avoid being exposed to the virus. It may be possible that a person can get COVID-19 by touching a surfac ..read more