Supplemental/Ancillary Sales Help Health Agents Thrive

Supplemental/Ancillary Sales Help Health Agents Thrive

Working with many health agents in the market I come across varied responses about if they are doing well in this market or just holding on to what they have as it continues to wane.  The ones that have a strong growth track have a focus or strategy that provides continuous streams of income.  One broker leverages their relationships with companies but does all their work on the individual market continuously getting referrals.  Another focuses on self funded plans, especially those with employer funded HSA accounts.  One commonality is among many of these agents is the embracing of the supplemental sales in addition to the health sale.

With commissions cut there is only a few options to maintain or grow your business.

  1. Grow your market share
  2. Increase your sales with in your current clients

Including these ancillary sales can double your profits and here are some strategies how:

  1. The Self Funded Plans with HSA Contribution:
    – Convince the employer to reallocate the money from the HSA to purchase products such as Accident, Hospital, Critical Illness, and/or Dental Insurance.  Many times it will be less expensive, provide a much richer benefit to the employees, and there are tax incentives.
  2. QSEHRA Strategy (New HRA Benefit Plans for Small Employers):
    – Leading in with a Tax Saving strategy with employer groups catches their attention and are more receptive to return the favor by purchasing a supplemental product with their savings.
  3. Boosted Bronze Plan:
    – Now it can be challenging with rates the way they are today to find someone not in the bronze category but clients purchasing the bronze plan can have their concerns of “What If?”  Either moving them from a Silver/Gold down to a Bronze and adding supplemental benefits BOOSTING the health strategy can lead to happier clients and healthier commissions.


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