|
|
|
|
|
|
|
|
|
|
|
|
 |
The Insider |
November 2010 |
|
|
Issue 7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
click on the icons above to
read that section or just scroll down |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
|
There is obviously
great uncertainty in our industry today. The primary causes are the impact
of health reform, and particularly the establishment of health exchanges and
application of mandated medical loss ratios, as well as the state of the
economy.
In an effort to provide
insight into these and other issues,
HealthConnect helped sponsor a recent comprehensive study of health carriers and brokers (along
with one of our business partners, The Trizetto Group). The current study was a
follow-up to a similar study completed in 2008. Both surveys were targeted
at two groups – brokers and medical carriers. The focus was on how both
brokers and carriers could increase revenue and reduce costs through
improvements in the current distribution channel as well as views on the
impact of healthcare reform and strategies that brokers and carriers are
adopting in response to the overall industry environment. The most recent
study was completed by 1,020 brokers and 82 medical carriers (16 BCBS plans,
15 national carriers, 39 regional carriers and 12 emerging carriers).
For brokers, responses
were obtained from licensed health brokers that have a strategic focus on
individual/family and small group medical plans. For medical carriers,
responses were completed by sales executives that influence sales and
distribution strategies. The study was examined not just for current
viewpoints but also how those viewpoints have changed versus 2008.
For
BROKERS, the key findings are below:
-
There has been little improvement in automation over the last two years;
most brokers remain, at best, only partially automated for every sales
process step;
-
The same problem
prevails since 2008 – it takes too much time to process/install a group
case;
-
Brokers with small group business feel they are spending far too much time
on processing and installing groups;
-
PPACA (67% in 2010) has displaced rising healthcare costs (74/45% in
2008/2010) as the leading industry driver that promises the greatest
business impact;
-
Brokers expect to prepare for PPACA by becoming more administratively
efficient (59%) and selling more ancillary products and services (72%);
-
Brokers and carriers have similar views on the role of brokers within
exchanges, with both groups rating providing advice to customers on
available options as their main role and secondly helping customers find
options outside of the exchange.
-
Helping consumers understand and maximize their subsidy was considered by
carriers and brokers as a minor role for brokers to play
Read a detailed summary of
BROKER key findings.
For
CARRIERS, the key findings are below:
-
Carriers have greater awareness of the importance of their sales process
and need to invest in it, particularly in preparation for PPACA;
-
Carriers continue to value brokers (60% of carriers rated brokers as
Extremely Valuable or Valuable in 2008 and 2010); however, carriers are
more amenable to going direct (strongly disinclined to disintermediate
brokers – 62% in 2008 versus 38% in 2010);
-
36% of carriers have
plans to reduce broker commissions in 2010, versus only 10% in 2008 (for
GA’s, the 2010/2008 figures are 38%/8% respectively);
-
Most carriers believe
brokers will play a role in health insurance exchanges, although 20% of
carriers do not foresee a role for brokers in exchanges;
-
Carriers feel exchanges are more suitable for selling IFP business versus
small group;
-
48% of carriers
believe they will sell less than 25% of their small group business through
exchanges (with remainder through existing distribution channels);
-
67% of carriers
believe PPACA will increase the cost of small group and IFP plans.
Read a detailed summary of
CARRIER key findings.
Sincerely,
Peter Everett
President/CEO
HealthConnect Systems |
|
|
|
|
|
president's message |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
The Product Spotlight
section, which will regularly highlight one of our products in more detail,
will also enable us to keep you updated on new products and new features of
our existing products. |
|
|
|
|
product spotlight |
|
|
|
|
|
|
|
|
|
The healthcare reform produced millions of individual and family plan
prospects.
With our Individual and Family Plan system,
your business can grow exponentially without the extra time dedicated to
quoting carriers individually and manually comparing the best options for
your clients.
Our Individual and Family Plan System allows
you to:
-
Quote more efficiently
so you save time quoting and creating proposals and have more
time to get new business.
-
Provide
your clients with detailed and accurate information on health plans
available to them.
-
View, print or email
proposals to your prospect or clients.
-
Generate your own leads
through your own website by using our consumer link. Leads will be 100%
accurate and 100% yours.
-
Nurture your leads
until
they are ready to buy through our built-in auto-responder. The
auto-responder also allows you to customize messages for more precise
prospect targeting.
-
Let your prospects choose to enroll by paper or online. You receive
credit either way.
-
Grow business online
and let us design a website for you that will grow your individual
health insurance business.
If you do not have our Individual and Family
Plan System, please call our sales office at 877-805-2828 x250 or email us
at
sales@healthconnectsystems.com.
|
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
Partner Spotlight will
regularly focus on one of our partners whose services we make available to
you through our quoting system and HRConnect. |
|
|
|
|
partner spotlight |
|
|
|
|
|
|
|
|
|
|
From
the health plan benefit management to work permit regulations and COBRA
extension, HR administrators have to stay on top of the issues. To lessen
the burden of these responsibilities, employers often outsource different
functions to other vendors, only to be left managing them all.
HRConnect presents the
win-win situation for health insurance agents and their clients.
As
HealthConnect client, you can provide HRConnect to your clients as a
value-added service and distinguish yourself from competition. Your clients,
on the other hand, will benefit from a selection of partners we offer
through HRConnect to handle COBRA services, HRA, voluntary benefits and
more.
-
TASC
(Total Administrative Services Corporation) takes over the employer's
COBRA responsibilities, handling the burden of liability, notice
distribution and premium collection.
-
O.C.A. Benefits
provides health insurance agents with a great tool for showcasing their
clients the financial impact of high deductible, HRA, plans on their
business.
[coming soon]
-
HR Answerlink
provides small businesses with easy access to HR information and resources
online and enables HR managers access to state and federal employment
laws, HR news, employee handbook builder, job descriptions and more.
-
SurePayroll
offers an unbeatable value to small business
and allows HR managers to process payroll quickly and efficiently.
-
Colonial Life
offers employers a selection of voluntary benefits they can offer to their
employees as a part of the benefits package but without any additional
cost to the employer.
If
you would like to offer HRConnect to your clients, please
contact our sales team, or
request a demo.
|
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
Having trouble using a feature
in the quoting system or HRConnect?
Tips and Tricks section will provide you with a quick "how to."
|
|
|
|
|
tips and tricks |
|
|
|
|
|
|
|
|
HRConnect is a powerful communication tool for
your clients who can communicate all sorts of information to their
employees. In the Information section, HR administrators can post helpful
information or links to their employees and even divide the information into
sections to help sort it by importance or type.
Use the following information to help your
clients get the most out of their HRConnect.
To create a new section:
Go to Information
Click on Add Section on the bottom right of the
page
Fill in the fields and click Update.
Click Back to return to the Information page.
You should see the newly created section listed
first.
To create a new item under the
section you just created:
Click on the link Add Item on the far right of
the section to which you want to add information
Fill out the fields
Click on Update.
Click Back to return to the Information page.
You should see the item you just added listed first in the section to which
you just added this information.
To edit the section,
click on the Edit button on the far right of the section heading.
To edit the item under the section, click on
the Edit button on the far right of the item heading.
To change the
order the sections, click on the
red arrows (up or down) on the far right of the section heading.
To change the order of
the items under each section, click on the red arrows on the far
right of the item heading.
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
Want to know what your fellow
brokers are saying about our products and how they helped them? Read it
here, in the So We Heard section. |
|
|
|
|
so we heard |
|
From
Sharon M., President, Profit Strategies, Inc., California
I have been using HealthConnect for about a year now for Small Group
and Individual business. It has made quoting and managing our
insurance business so easy. The value added by offering the HRConnect
platform to our Small Group clients has really given us the
competitive edge. Everyone is really impressed by the convenience and
information on the site. Thank you, HealthConnect, for this wonderful
site! |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
HealthConnect in the News
section will keep you up-to-date on our new developments, partnerships or
changes and will include our reference in the media. |
|
|
|
|
healthconnect
in the news |
|
|
|
|
|
|
|
|
|
Rivals Jockey for
Roles in Insurance Exchanges
by Avery Johnson,
The Wall Street Journal, November 16, 2010
Health-technology companies are hoping that the new state
insurance "exchanges" required by the federal health-care overhaul
will offer them big new growth opportunities...
Read the whole article where HealthConnect
is mentioned and our President, Peter Everett, is cited,
here.
Hint: Google News displays the whole article. Simply enter 'rivals
exchange insurance’ in the search field.
Automated Cost Savings Illustrations of HRA Plans Administered by
OCA Benefits Services Soon to be Available on HealthConnect
November 22, 2010 – HealthConnect Systems, the leading online
network for buyers and sellers of health insurance and employee
benefits, today announced its plans to integrate automated cost
savings illustrations for Health Reimbursement Arrangement (HRA)
that will be administered through OCA Benefit Services.
HealthConnect brokers will soon be able to access HRA proposals
through HealthConnect’s quoting platform with a simple click of a
mouse.
“As more companies are choosing consumer directed health plans, we
understand the importance of providing our clients with an option
to include these plans in their proposals. By partnering with a
company like O.C.A., we also provide our health insurance agents
with a reputable partner to service those plans for their
clients,” said Jim Gamble, HealthConnect’s East Coast Sales
Executive.
“We focus as
much attention on achieving positive behavior changes as we do on
our core processing procedures,” states O.C.A. President Stephen
Honig. “By focusing our attention on encouraging healthy behavior
changes, we impact the employers’ overall cost. We seek to show
employees that quality health care is actually less expensive to
deliver than poor quality health care. The end result is that we
get consumer “buy-in” on a quality proposition where everyone
wins.”
For a sample HRA proposal,
click here.
HealthConnect Reaches
a New Milestone
We are pleased to announce that thanks to our clients, we have
achieved a new milestone. Processing about 15,000 quotes a day, we
have officially exceeded
20 million small
group quotes on our system. Thank you to more than 15,000 health
insurance agents and over 30 General Agents for selecting
HealthConnect!
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
back to top |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
|
Your opinion counts!
This section will feature a quarterly poll to find out your opinion on our
products, enhancements, announcements, tips and our communication to you so
we can continue to improve. |
|
|
|
|
your opinion |
|
|
|
|
|
|
|
|
|
|
Last month, we asked whether you
participated in social networks and this is how you
voted. Thank you to everyone who
contributed. |
|
|
Thank you for your feedback! |
|
|
|
|
|
|
|
|
|
|
|
|
back to
top |
|
|
|
|
|
|
|
|
|
|
877.805.2828 | newsletter@healthconnectsystems.com
|
sales@healthconnectsystems.com |
|
|
|
|
|
|
|
|
50 Washington St., Suite 1112
Norwalk, CT 06854
|
1300 E. Shaw Ave., Suite 109
Fresno, CA 93710
|
1461 Lakeland Ave., Suite 2
Bohemia, NY 11716 |
2555 E. Colorado Blvd., Suite 202 Pasadena,
CA 91107 |
|
|