The health insurance industry is a competitive one. If you’re holding the right cards, it can also be a lucrative one. As rates continue to rise considerably each year, you need to position yourself as a broker with the best options at an affordable cost.
Let’s take a look at why switching to selling level-funded health benefit plans is a smart way to grow your business.
Savings from the Start
Level-funded health plans offer significant cost savings right from the start in comparison to traditional health insurance. While initial cost savings can help you close the deal, you want to make sure your customers will stick around come renewal. With level-funded plans, your customers have opportunities to actually reduce costs down the road, helping secure more residual business for you.
Gives Control to Your Customers
Control is important for small business owners. But the one thing they can’t control with traditional health insurance are their plans. Those are governed by the insurance company and/or the federal government. When you offer level-funded health plans, you aren’t just providing a lower cost. You’re providing your customers with total control over their plan and claims fund. They’ll get 24/7 access to real-time healthcare data and claims, enabling them to be proactive with their employees on saving costs incurred by the plan.
Puts the Claims Fund Back in Their Pocket
Much like plan control, a customer’s claims fund is at the mercy of the insurance company with traditional health insurance. However, when you switch to selling level-funded health benefits, you actually get to allow your customers the option keep any money left over in their claims fund at the end of their policy period.
So not only are you able to provide them with cost savings and complete control over their plan, but you’re also able to help them keep their claims fund as a company asset. Are you starting to see why switching to selling level-funded can really grow your business?
Switch to Selling Level-Funded Health Benefits and Come Out On Top
As we stated before, growing your insurance broker business isn’t just about getting the initial sale. It’s about maintaining your customers long after their policy renewal comes around. By selling level-funded health benefits from United Advantage Agency, you’ll be able to not only provide a much more lucrative offer for small business owners, but you’ll be providing them with plans that offer far more than what they’re currently getting – at a price they won’t want to refuse.