One of our goals in Business Services is to become a trusted advisor of our business owner client. Many times the only time an owner thinks about employee benefits or the rising costs of medical insurance is at renewal time, or the anniversary date of the group plan. He or she would rather continue to focus on running his or her business, e.g., making widgets or providing services to their customers. But when the group medical insurance premiums have double digit increases for three or four years in a row, those costs are out of control and hurting the bottom line.
With a new referral or new prospect, we need to demonstrate in a very short period of time that we can help. That is when we rely on the many years of experience Dennis Flem (CLU, ChFC, Vice President), Kent Brady (Vice President, Business Services), and Melissa Deitrick (Account Manager) to deal with these issues. Employers will frequently comment on the difficulty of keeping current with government regulations and rules for insurance and employee benefits. We can often establish credibility early by reciting some of the many options a business has to control the costs of benefits through cafeteria plans, medical reimbursement plans, health reimbursement arrangements, healthcare savings accounts or consumer directed health insurance. We ask questions, we listen carefully, and hopefully, begin building a relationship that allows us to become a trusted advisor.
As a licensed broker, we shop the market for all available group medical plans in the state. We prepare a 20 page analysis of benefit choices, based on what we have learned about the owner’s business. A favorite feature of our proposal is the Executive Summary that condenses all of our research to one page for decision making. We review the possible solutions with the owner and many times earn the right to do business with our new business owner client.