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[Transcript]
Imagine sitting with your business clients and being able to tell them…
Guess what, next year you’re not going have a double-digit increase in your health insurance.
You imagine what type of hero you’d be!
Well that’s kind of the method that we have with a medical stop-loss plan.
See the opportunity here is that when you look at the Blue Cross of Blue Shield’s, the HMOs of the world, the fully insured plans, they’re taking everybody in their entire book of business and lumping them together.
So the good is lumped in with the bad…
They’re not allowing those companies that have good claims experience or are diligent in their claims to really benefit from that experience.
See if a company has a healthy workforce, they may have low claims experience and the chances that the current health insurance is letting their profit subsidize those people that aren’t healthy.
With a fully insured plan such as I mentioned before Blue Cross Blue Shield, the crazy thing is the claims experience is a corporate secret they don’t want to share that information because if they do they’ll let you know how much profit they’re making.
That doesn’t allow your business owners, your clients to really be able to participate in cost management and most would like to.
And that allows the carriers to give you those increases year after year with very little explanation.
So by controlling those claims expenses, the company can improve their cash flow in such a way that it can give them substantially similar type of coverages.
But also protect against large catastrophic claims.
See stop-loss is not the same as self-insurance.
Because what you’re doing is use yes you’re controlling your costs upfront but you also have for lack of a better word a protection hat against spiraling claims that go up.
So a well-designed plan can really afford the business owner the healthy businesses and those diligent businesses the ability to help with their cash flow.
It gives them transparency of claims so they know what they’re doing.
So next year, they can say yes we had a good year or no we didn’t have a good year.
So they can really kind of anticipate where the costs are going.
And so we can also do in that circumstances look at what their coverage is and duplicate what they have.
A lot of times the reason people don’t change is because they like what they have.
Well let’s give them a better cash flow for the business owner and give those employees the types of coverages that they want, that they’re used to.
So that nobody has to change.
And again we’ll do this by reducing cash flow and protecting against spiraling claims.
It’s an opportunity you should share with your clients