The employee benefits field is in our busiest time of the year with carriers releasing plans and rates for 2019, the two biggest renewal months are coming, seminars, webinars and don't forget legislative changes. All brokers know how important this time of the year is to the success of their business, but do you have a plan for success? This time of the year reminds of me a great quote I read - “Success is nothing more than a few simple disciplines, practiced every day; while failure is simply a few errors in judgment, repeated every day. It is the accumulative weight of our disciplines and our judgments that leads us to either fortune or failure.” So make sure you are educating yourself everyday on all that is happening in our industry and check the FILCO calendar for upcoming events, Facebook, Twitter, and our blog for the latest industry news.
Oscar recently announced a new larger network that will be available: Circle Plus! (Oscar's current network will be called Circle. Circle Plus will be an expanded network, please note NJ groups will access to Circle network not circle plus.). Oscar will allow new groups written for 11/1 and 12/1 to have this larger network for remainder of 2018 and auto renew into 2019 plans come Jan 1st!
Prestige is offering our Brokers a BONUS for 4th Quarter with AMEX gift cards to help with your upcoming holiday shopping!!
$100 AMEX gift card for each case with 20-49 employees*
$250 AMEX gift card for each case with 50-74 employees*
$500 AMEX gift card for each case with 75-200 employees*
$250 AMEX gift card for Brokers that close their 1st case with Prestige (minimum of 20 employees*)
*To qualify for any bonus, employees must be full-time, benefit eligible employees. New groups only.
Idilus PEO has officially announced that it will NO longer be offering the sole prop program now or in the future. Anyone currently enrolled with them can remain a client; they will not be termed, but any new clients will not be processed.
TriNet PEO WILL enroll sole props, K-1, 1099, husband/wife groups into their sole prop platform. They have AETNA Open Access plans (with PPO and EPO options some with UCR reimbursement!) No medical questionnaires are needed BUT their fees are quite high! On average, they will charge $750 per month (on top of their medical premium). At FILCO, we have pre-negotiated the first 6 months to have a lower admin fee of $250 for your clients, but then the admin fee jumps to a flat $750 per month thereafter. Good news for you as their Broker as you will earn 15% on the total admin fee charged, so based on the $750 per month fee, you would receive $112.50 per month.
PEO Sales Manager Colleen Visconti is always available at
732-704-5079 or firstname.lastname@example.org to answer any questions and/or opportunities.
Senior Care Update - Open Enrollment
AEP is a few days away and there is exciting news and plans in your area.
Remember PPOs? Think Aetna and Humana, They are available in the Medicare market and are commissionable.
Aetna continues and will be more robust for the upcoming Medicare season.
With a no deductible PPO option.
Humana has a PPO option which can be a good fit as well for your clients.
Contact our Medicare Department and get certified!
Not interested in getting certified, we have a referral program, contact FILCO Senior Care Team for more info.
The Kaiser Family Foundation released their annual Employer Health Benefits Survey. Some of the findings include a 5% increase in family coverage costs in the last year and over 55% since 2008. This growth rate surpasses inflation and wage increases for the last year. For more on the survey, Click Here.
The House went into recess last week and that will last through the November elections. All issues pertaining to their employer legislative package will be deferred until then.
NAHU submitted comments to the IRS in support of a clarification to a proposed rule that health insurance agents and brokers are not limited in their eligibility to deduct 20% of their qualified business income as part of the Tax Cuts and Jobs Act enacted last December. Click Here for the letter and Here for the proposed rule.
" Whenever you find yourself on the side of the majority, it is time to pause and reflect."
Our FILCO team is constantly posting great industry reads via our social media outlets, stay informed on our industry follow us on social media!