Ancillary Archives - Midwest Insurance Brokerage Services Inc

TASC Landmines for HSAs, FSAs, and HRAs
Gallery
TASC Landmines for HSAs, FSAs, and HRAs

Ancillary, Marketing & Sales Ideas, Patty's Perspective

TASC Landmines for HSAs, FSAs, and HRAs

Recently, MIBS hosted a seminar presented by Nancy Dantzman, Vice President at TASC and Craig Sayers, MIBS' regional director with TASC. It was a very informative and lively event. Nancy jumped right in discussing Flexible Spending Accounts (FSA) which offer variability when setting them up. FSA Flexible Spending Account An FSA is an account employees can use to pay certain out-of-pocket health care costs not paid by other health plans, pretax. The FSA can be set up with the employer and/or the employee contributing. When employees contribute pretax, this lowers the payroll taxes that the employer has to pay so both parties experience savings on their tax liability. In groups with high employee contribution, the employer’s payroll tax savings may be enough to pay for any administration charges for the FSA. Employers are not required to make contributions but certainly can. The IRS sets the contribution limit each year and the limits for 2019 are: FSAs are known for their use it or lose it provision, however, groups may offer participating employees more time through either a carryover option or the grace period option to use any funds [...]

Jenna2019-06-11T16:42:07-05:00Ancillary, Marketing & Sales Ideas, Patty's Perspective|

Unum Update for Ancillary Products
Gallery
Unum Update for Ancillary Products

Ancillary, Marketing & Sales Ideas

Unum Update for Ancillary Products

Do you have groups with 10 or more enrolled? Consider Unum for their ancillary products! In 2019, Unum’s dental and vision networks were increased by 8% making them one of the top 10 best networks. Their goal is to become one of the top 3 networks, which they are successfully working towards. Unum also offers the EyeMed network which includes Lens Crafters, but their regular vision network offers more Big Box names: Sears, Target, Walmart, Vision works, etc. Also, in 2019, Unum can offer discounts for their dental products when bundled with another product line. A great selling feature with the long term disability product, is the EAP Program (Employer Assistance Program). For members enrolled in this product, they will have assistance from a skilled negotiating team that will work with the provider to get a discount on any balance (minimum $400) not paid by the health insurer. This can also be added onto the life product as well. Employee Assistance Program Flyer Employee Assistance Program Medical Bill Saver Flyer Medical groups renewing this year mostly are receiving minimal increases and even some decrease in premium. [...]

Jenna2019-03-19T02:06:46-05:00Ancillary, Marketing & Sales Ideas|

Dearborn National Group Benefits with BCBS IL
Gallery
Dearborn National Group Benefits with BCBS IL

Ancillary, Blue Cross and Blue Shield of Illinois, Marketing & Sales Ideas, Medical, Patty's Perspective

Dearborn National Group Benefits with BCBS IL

Dearborn National Group Benefits Recently, Dearborn National held a seminar here at MIBS and discussed not only their products but also how employers and members can best use them. Although Dental and Vision are easy to use, Term Life and Disability may be unfamiliar to your employer and employee. How life insurance and disability insurance works with employees who may not be actively working was new information for me and I felt this was important for agents to know. I have included this topic toward the end of this blog. Dearborn National is the ancillary carrier partnered with BCBS IL but their products can also be sold stand-alone without medical benefits. Their products include: Life Insurance Short Term Disability Long Term Disability Vision Critical Illness Accident Contracted agents have access to the Producers Corner on the Dearborn National website where you can see your business and much more. Benefits that might be unique with Dearborn Life include: Dearborn Cares: provides an advance payment of the life insurance benefit to help beneficiaries cover their immediate expenses without a death certificate. The remaining balance will be paid after the [...]

Patty2018-10-30T14:17:33-05:00Ancillary, Blue Cross and Blue Shield of Illinois, Marketing & Sales Ideas, Medical, Patty's Perspective|

Don’t Forget About Humana for Group Benefits
Gallery
Don’t Forget About Humana for Group Benefits

Ancillary, Marketing & Sales Ideas, Medical, Patty's Perspective

Don’t Forget About Humana for Group Benefits

Although BCBS IL still has the market share of business in Illinois, don’t forget to consider Humana as well. This blog will discuss where Humana might fit your group’s specific needs. Recently, Humana came to MIBS to present Humana for 2018. Key points that were covered include: Humana Dental and Vision still strong in today’s market (Check out the Humana Bundling Bonus at the end of the Dental Vision section) Humana’s Level Funded Product is strong and competitive (Check out the Humana Level Funded Premium Bonus at the end the Level Funded section) Humana’s CCN HMO network provides a workable solution to contain premium costs space space Humana Dental Next to medical costs, dental expenses can create a serious strain on an employee’s budget. Groups offering dental not only assist the employee financially, but also increase the health of that employee as regular dental exams screen for many medical conditions increasing chances of early detection. Eligibility for Humana Dental Groups with 2-100 enrolled are eligible for dental coverage. Humana does not enforce contribution requirements for dental plans Participation requirements for employer sponsored is 50% participation after [...]

Patty2018-10-30T14:14:04-05:00Ancillary, Marketing & Sales Ideas, Medical, Patty's Perspective|