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Does Outsourcing Save Time and Money for Insurance Agents?

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How to outsource insurance agent help | Insurance CE
You’ve heard all the talk about outsourcing in the media, and perhaps even seen other insurance agencies take advantage of the benefits of using contractors rather than hiring staff, but will it really work out for you? It depends.

Many companies choose outsourcing because of the cost savings that come from not having to pay employee benefits, but another benefit is freeing your remaining staffers from administrative work, enabling them to spend more time doing what they do best. A number of companies have reported greater employee satisfaction and job performance as back-office tasks are turned over to an outside contractor, as well as a sense of enhanced job security and employee value.

Several outsourcing companies deal specifically with the insurance industry. If you need help with back-office processing or analytical tasks, ReSourcePro of New York can farm out the work to overseas facilities, where an English speaking college-degreed professional will be specifically assigned to work directly with you. Users have reported fast turnaround times on work that could have taken their regular employees many weeks to complete. Another option that’s closer to home is WAHVE, LLC, an agency that matches over-55 retired insurance professionals with insurance agencies needing help with customer service, claims, or processing. WHAVE workers can help reduce overhead and other costs via connection to a client agency’s system, while keeping jobs here in the US.

The Downside: A Cautionary Tale

Some companies have been less than happy with their outsourcing experience. Training and supervision of workers may not meet your standards. There can also be time and communication conflicts due to time zone differences, as well as language barriers and security issues – all of which can create extra problems due to contractor mistakes and unforeseen delays. Once functions are turned over to a contractor, you lose direct control over training, risking accountability and customer satisfaction. You have to keep an eye on the cost, too: in the end, for some companies there are no real savings. Be cautious before letting go of employees in favor of unproven contractors: you may wish later that you had them back!

The Last Word

• The trend among many insurance agencies is to hire mainly ‘core’ employees (sales and upper administrative) and outsource support personnel or those temporary positions
that don’t directly generate revenue. As companies continue to slash costs to remain competitive, outsourcing non-core work is fast becoming the norm.

• If considering outsourcing, ask questions designed to cover as many contingencies and hidden costs as possible, including the status of the contractor’s financial health.

• Get everything in writing about what you will get and what services will cost extra.

• Ask for references and be sure to follow up.

• Outsource only some of your tasks initially, to evaluate the servicer’s performance over a period of time, before risking your company’s reputation and goodwill.

Get to know your clients and watch your business grow

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How to grow insurance business | insurance ceBy purchasing insurance through you, your clients gain the valuable ability to call and speak to a knowledgeable person when they have questions or concerns about their policy. If you get to know your clients as individuals, you can show them the benefits of having an agent over an 800 number, and in turn you’ll help your business grow.

Establishing trust

Consumers are becoming used to impersonal business relationships, as more and more tasks can be completed through automated systems on the phone and over the web. The companies they deal with don’t often get the chance to have a conversation with them. You, on the other hand, have an opportunity to get to know your clients on a personal level. When you establish yourself as an agent that cares about their individual needs, you will build a level of trust in your business relationship.

You do not need to be intrusive to begin learning about your clients. Just by collecting information needed to set up their policy you’ll likely learn if they’re married and whether they have children. You may learn about the type of work they do and if they own a home. Keep this knowledge in mind, as it can help you anticipate a client’s future needs.

Keeping track of clients

You can set yourself apart as an agent by remembering the details that make up your client’s life.  Keeping track of information is not difficult. You can use various software programs or keep written details in a secure filing system. Programs like Intuit QuickBase, FileMaker Pro, and Salesforce allow you to design a database to your exact specifications. You can also use calendar reminder programs to let you know when to send birthday or other greetings to clients. This type of service provides the personal touch that establishes you as someone who is more than just a salesperson.

Meeting client’s needs

Once you have your information base, make the knowledge work for you. For example, a family with a home and auto policy has a child about to turn 16. You have gotten to know them well enough to know that the child is eager to start driving. Go ahead and contact them with two or three different quotes for the car insurance they will need.

This provides more than just a quote for your client. You are one step ahead, you have saved your client the time they would have spent tracking down quotes. Apply your knowledge in all of the areas where your clients may have insurance needs. If a son or daughter will be moving out, suggest a renter’s insurance policy. You do not need to use high-pressure sales tactics, you are simply ready with information your client will find valuable.

Growing your business

Getting to know and remember your clients will yield rewards. Your business will grow as you build long-term relationships. As children become adults, they will be likely to turn to you for their insurance needs. Satisfied clients will refer you to family and friends. All you need is to take a little time to treat each client as a unique individual.

3 Tips for Beating Test Anxiety

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Many people experience some fear or nervousness when sitting down to take a test. This is a natural response to knowing your work is being evaluated. It can even help you do your best by giving you extra energy and heightening your attention. Test anxiety becomes a problem, though, when it interferes with your performance. Your mind going blank or an inability to concentrate will only hurt your score.

The best way to meet test anxiety head-on is of course to be prepared. Knowing how many hours you’ve spent mastering the material and being able to tell yourself that you’ve learned it inside and out will help you counter your fears with true confidence in your knowledge and abilities. But for some this isn’t enough to make that nervous edge go away, and so here are a few simple things you can add to your test prep routine.

1. Eat Healthy Before the Test

Choose fresh fruit or a salad on the day of the test. Vitamin C will help reduce stress hormones, so citrus, strawberries, and dark greens make good choices. Protein like turkey or chicken can also help you feel calm and ready. A cup of chamomile tea before you go to bed the night before the test may help you sleep better.

Many of the things you know you shouldn’t be eating anyway will make your anxiety worse, including processed and snack foods, foods made with white flour, red meat, anything fried, chocolate, and soda. Don’t have that extra cup of coffee in an attempt to wake up: drinking more caffeine than you’re used to can add to your stress. Sugar will boost your mood briefly, but then cause you to crash and interfere with your concentration.

2. Breathe

It sounds too simple to work, but you may be surprised at how breathing deeply and intentionally can help you re-center. Sit up straight and slowly breathe in, paying attention to how the air is filling your lungs and abdomen. Hold for a few seconds, and then exhale, again slowly. Repeat until you calm down. You may also want to try breathing into your hands as they’re cupped over your mouth, or deeply breathing in through your nose and out through your mouth. Don’t force your breath but just observe it instead.

If this works for you, you may want to research other breathing exercises or meditation/mindfulness techniques to add to your stress-busting toolbox. More and more studies are showing the benefits of these practices.

3. Chew Gum During the Test

This sounds like a weird tip, but there’s real science behind it. Researchers in Australia found that chewing gum can alleviate stress, going beyond just distracting you to actually lowering stress hormones. Other studies in the UK and Germany have showed that chewing gum helps with memory retrieval. The US military has even distributed gum to troops to help them relieve tension and stay focused.

Why does this work? It may be that the chewing action and increased saliva help to improve blood flow and get more oxygen to the brain.

None of these tips will replace having actually done the work of learning the material, but they are extra tools that can help you calm your jitters and do your best.

Guides to Growing Your Insurance Career

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Grow Insurance CareerUnfortunately, these books won’t help you earn more continuing education credits, but they will help you push your career forward. All of them contain specific, valuable advice on what’s worked for other people: no dry textbooks here. It’s well worth making the time to at least give them a look, even if you can’t go cover to cover. The next time you want to get a little reading done, consider setting aside that thriller or romance that’s had your attention: after all, what could be more exciting than your potential for success?

How I Raised Myself from Failure to Success in Selling
by Frank Bettger

This is a classic not just in the insurance field, but in business in general. It shares the secrets of how in about ten years Bettger turned himself from a failed insurance salesman to a wealthy man who was one of the best-paid insurance professionals in the US. For Bettger, the key to success lies in your presence and style, your enthusiasm and your confidence. He uses helpful anecdotes to illustrate his points and provides step-by-step guidance. This book will not only enable you to increase your profits and work more efficiently, it will also make you a prized agent within your company.

Power Position Your Agency: A Guide to Insurance Agency Success
by Troy Korsgaden

This book is for agents who find themselves working too hard for too little: spending countless hours on paperwork and driving around to clients without the sales to make the gruntwork worth it. Korsgaden provides concrete strategies that will help you improve your situation quickly. His advice is geared towards getting more leads, getting them to come to your office, and getting meetings done quickly. Korsgarden has also shared his wisdom in seminars with agents across the country.

Increase Your Insurance Sales, Retention & Referrals Now!!!
by Melvin Pierre

Pierre’s enthusiasm is evident right from the title, and it’s that passion that many have loved about this book. He reminds agents why they chose this business in the first place and how their work helps real families. But he’s not all cheerleading: Pierre provides practical, to-the-point advice that will make sales happen for you. If you don’t have time to read the whole thing right away, just start with the section on Overcoming Objections. Both new agents and old veterans will want to dive back into their work after finishing this book.

How I Built A $37 Million Insurance Agency In Less Than 7 Years
by Darren Sugiyama

Sugiyama’s mantra is clarity: with focus and know-how, we can achieve great things. In an enjoyable, conversational style, he takes you through his journey of building a successful company, emphasizing the real steps that you can take yourself. Topics covered include the important details like what to wear to systems that can change your business for the better by increasing profits and efficiency. Readers have praised Sugiyama for real information and a no-nonsense attitude.

California Insurance CE Courses Approved

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FOR IMMEDIATE RELEASE
California Insurance CE Distribution Rights Awarded

InternetCE Now Offering California Insurance CE.

Internet CE are proud to announce they are now premiere providers of California Insurance CE Training courses. This news comes in keeping with Internet CE’s pledge to provide the highest possible quality of resource tools.

About Internet CE

Founded in 1991, North Carolina based company Internet CE have always been proud providers of valuable resources. The new opportunities presented by the California Insurance CE courses are a welcome edition to over 20 years of customer service.

Internet CE’s outstanding reputation for achieving results extend throughout the United States. The introduction of the approval to award California Insurance Training programs signals confidant growth as part of their recent expansion in early 2012.

The approval to award California Insurance Continuing Education courses is just the answer they have been looking for – once again displaying Internet CE’s commitment to quality and providing viable tools within their community. By implementing Insurance specific training, Internet CE hope to help you help yourself.

Why Choose To Undertake Continued Education?

The California Insurance Continuing Education programs are available to anyone who wishes to further their own, or their employees, current education.

All courses are approved by the California Department of Insurance.

The California Insurance Training courses cater specifically to those who work in the Insurance industry who are interested in California Insurance laws and becoming accredited within their field. Continuing education is an excellent option for professionals to excel in their specific field. They are also an excellent choice when deciding to further your own personal career or educational merits.

What’s Next For Insurance Companies?

Internet CE note the benefits of taking the California Insurance Training program as being vital to those working in the Insurance industry. Those who are seeking new and innovative ways to gain accreditation should take comfort in turning to Internet CE when looking to train themselves or their staff (or even simply to incorporate up to date training tools) and should consider the California Insurance Training programs as a viable option, with guaranteed results.

# # #

If you require further information on accredited California Insurance CE courses, or would like to schedule an interview with CEO and Founder Cliff Davis, please contact Mr. Davis’s office on 1-800-835-5314 or if you’re local, 919-662-2169. You can email Internet CE at: info@internetce.com or write to: 1403 Buckingham Rd, Garner, NC 27529 – for the attention of Mr. Davis.

Learning Opportunities: What Do You Want to Learn?

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By Shelley A. Gable

Every state requires insurance continuing education. Your attitude toward that education requirement determines how much you benefit from it. Do you view it as an opportunity? Or just another item on your growing to do list?

The reality is that you (or your employer) is paying for it regardless of your attitude. And in any case, you’re the one spending the time to complete the class. So why not make the most of it? Viewing it as an opportunity allows insurance ce to be a rich source of professional development.

What are your professional goals?

First think long term…maybe ten years out. Do you want to be a sales manager? What skills and knowledge do you need to acquire to be eligible for that position? Maybe you need to meet certain licensing requirements or build strengths in specific skills.

Think short term as well…maybe one year out. Is there an additional type of product you’d like to be licensed in, so you can become more valuable to your organization and increase your income potential? Is there a new law that you know will impact your work?

Here’s another angle to consider: What are you an expert in?

If you’re part of an agency with a dozen agents, what makes you special? Are you the go-to person for anything? If not, you may want to consider selecting an area of your work that interests you and gaining the knowledge needed to establish yourself as an expert. Being the one others defer to on a topic can do wonders for your credibility overall and may help advance your career.

Write down your goals.

Almost any book or article that offers advice for setting goals recommends that you write them down.

Why do you need to write them down?

  • To remember what they are
  • To look back to them for inspiration
  • To build a sense of commitment

Another advantage of writing down your goals is that it makes it easier to map out a plan. Though it can be helpful to create a detailed plan for your professional development, just capturing some of the basic elements of a plan initially can help move you in the right direction. At a minimum, start by thinking about:

  1. What are your goals (short and long term)?
  2. What specific types of skills and knowledge must you develop to achieve those goals?
  3. What specific actions must you take to develop those skills and knowledge?

How can insurance continuing education help you achieve these goals?

Now that you’ve identified the skills and knowledge you need in order to meet your short and long term goals, select insurance continuing education courses that help bring you closer to those goals. When it comes to insurance ce offerings, you have options. And with online training, you aren’t limited to options that are compatible with your schedule.

When perusing a course catalog, take a few extra minutes to view all your options. Read through the course descriptions and select courses that best align with your goals and interests. Taking advantage of online insurance ce courses to further your professional development will not only help you achieve your goals, but it should also help motivate you when completing the course.

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If you appreciate these ideas, it’d be swell for you would share them (button below) or subscribe via the feed.

Click here for 5 reasons why you should subscribe!

Interested in sales?  Perhaps Insurance, Real Estate, or Finance is your calling..  Click here to get licensed.

Need your Insurance Continuing Education?..Click here to take your continuing education classes online.

Shelley A. Gable is an instructional designer and freelance writer. She has developed training for functions such as financial services, call centers, and engineering education. Shelley writes articles on topics related to training and management for print and online publications. Visit Shelley’s website at http://shelleygable.wordpress.com.

Online Learning, Memory, and Aging

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By Shelley A. Gable

WebMD reports that many people start to notice decreased memory performance in their 50s. We all know to expect physiological changes as we age. As early as our 20s we begin to lose some brain cells, and our bodies start to make less of the chemicals needed to generate new brain cells.

When experts talk about decreasing memory performance, they’re usually referring to the ability to learn something new. As my grandfather approached his 90s, he could easily tell stories from earlier in his life with surprising detail, despite the fact that conversations from earlier in the day seemed fuzzy. This is pretty common.

With an aging workforce, what does this mean for continuing education and online learning?

Despite the toll that aging typically has on learning, there are habits we can develop earlier in our lives to help make learning easier. We can apply these productive habits to online insurance ce courses.

Think critically about the information presented to you.

Rote memorization rarely leads to actual learning. In order to learn something well enough to recall it later, you must think about newly learned knowledge in a way that is meaningful to you personally.

According to a study that compared the ability of younger and older adults to memorize words, older participants tended to be less likely learn these words in a way that was meaningful. In one condition of the study, researchers asked participants to memorize words, without providing any specific instructions for doing so. In this situation, younger participants recalled significantly more words than older participants. In a second condition, researchers asked participants to make judgments about the words. In this situation, the memory difference between younger and older participants was significantly less. This study’s findings support the importance of thinking critically about the content being learned and suggest that older participants were less likely do that without being prompted.

So how does this relate to online insurance continuing education?

When completing an online course, go beyond reading the words on the screen. Proactively think about how the information you’re learning might impact your job, and apply that information on the job as soon as possible. Take notes to organize the information in a way that makes sense to you. Go out of your way to discuss newly learned information with a colleague.

All of these activities prompt you to think critically about your newly learned knowledge and reframe it in a way that applies directly to your world. This strengthens the connection between new information and the knowledge you already have, which should make newly learned information easier to recall later.

Proceed at a comfortable pace.

The speed at which we can take in and process new information slows as we age. In other words, if a large amount of new information is presented quickly, we’re likely to miss more as we grow older. Fortunately, one of the advantages of online learning is that you control the pace. If you need an extra few seconds to read everything on the screen and think through its implications, you can take all the time you need.

Slow the effects of aging on memory.

In addition to the productive learning habits described above, other healthy habits can help keep your mind sharp well into your golden years. Managing stress, although sometimes easier said than done, can do wonders for both mental and physical health. Getting the sleep you need is also important, since memories are solidified during slumber. And of course, regular exercise and a healthy diet are critical, as both play a role in providing the brain with the fuel it needs to function properly.

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If you appreciate these ideas, it’d be swell for you would share them (button below) or subscribe via the feed.

Click here for 5 reasons why you should subscribe!

Interested in sales?  Perhaps Insurance, Real Estate, or Finance is your calling..  Click here to get licensed.

Need your Insurance Continuing Education?..Click here to take your continuing education classes online.

Shelley A. Gable is an instructional designer and freelance writer. She has developed training for functions such as financial services, call centers, and engineering education. Shelley writes articles on topics related to training and management for print and online publications. Visit Shelley’s website at http://shelleygable.wordpress.com.

InternetCE Blog Gets Listed In Top 50 CE Blogs!

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Yesterday, we were honored by being chosen as 1 of the top 50 continuing education blogs.  In fact, we were listed as the top business CE blog.  I am not sure the ranking has anything to do with anything, but we’ll take it.

Either way, it was exciting for us to be mentioned by others as being an authoritative source of solid information.

You can see all of those listed in the blog here – http://www.studentloans.net/continuing-education-blogs/

Stay tuned as we expand and refine our content and teaching.

4 Reasons We Procrastinate – And What You Can Do about It

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By Shelley A. Gable

What type of procrastinator are you? A few people out there almost never procrastinate…but they’re a rare breed. For some, putting off tasks until “tomorrow” is a way of life. Others drag their feet on tasks they wish to avoid.

Insurance continuing education is a common victim of procrastination. However, delaying the completion of insurance ce requirements is risky. In addition to being a valuable source of professional development, insurance ce is critical for staying up-to-date in the field and maintaining eligibility to do your job.

We all know that we shouldn’t procrastinate, but we find ourselves slipping into it anyway. Its consequences are well-known – tasks pile up, less time to get things done, increased stress, missed opportunities – so by procrastinating, we knowingly put ourselves in harm’s way.

Why do we do this?

Procrastination Rationale #1: You don’t feel like completing that online insurance ce course today, but you assume you’ll feel motivated to do it later.

It can be challenging to focus when you’re not in the mood to do something, but much of this is driven by your attitude. It might be helpful to remind yourself of why you signed up for a particular course in the first place. Does the course relate to an updated law that impacts your job? Does it relate to a type of product that you can start selling (and earn commission from) after you complete the licensing requirements?

Regardless of what you feel like doing, commit to completing the first 15 minutes of the course. You may find that once you get started, you’re able to find your groove and complete the course.

Procrastination Rationale #2: You believe you work best under pressure.

Some people enjoy the thrill of sprinting to get something done at the last minute. Regardless of your ability to perform other tasks in a pinch, experts agree that we just don’t learn well that way. Cramming doesn’t work, because the brain is only capable of processing a limited amount of information at a time. That’s why taking periodic breaks during a course can actually help us retain more. But if you’re in a hurry to complete a course, there may be little time for breaks.

Procrastination Rationale #3: You look for distractions.

You might not even realize that you’re seeking out distractions, but have you ever decided to check your email again right before starting something? Or perhaps out of nowhere, you decide that now is the time to finally clean your desk (because obviously you can’t complete an online insurance ce course at a cluttered desk!).

If you’re guilty of this, consider scheduling time for online learning, just as you would schedule any appointment. Then commit to starting the course at the scheduled time. To reduce the potential for distraction, close your email, silence your phone (maybe even put it somewhere out of reach), and don’t open any web browser windows beyond what you need for the online course. If the thought of being cut off from the world like this is a distraction in itself, you might allow yourself a couple minutes to peek at your messages every 15-20 minutes.

Procrastination Rationale #4: You’re genuinely busy.

Let’s be realistic. If your calendar is packed with meetings and you’re being taunted by a towering stack of paperwork on your desk, then insurance continuing education probably feels like a lower priority. Many people find that their workload ebbs and flows, so it probably makes sense to complete an online class when your schedule is less busy. But if hectic is the usual state of affairs, then insurance ce needs to be squeezed in somewhere.

As discussed earlier, scheduling learning time (and committing to that schedule) can help in this situation too. Another option is to complete the course in smaller chunks. If you can’t spare an hour to complete an entire online course, then plan to complete it in 15-minute snippets between commitments.

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If you appreciate these ideas, it’d be swell for you would share them (button below) or subscribe via the feed.

Click here for 5 reasons why you should subscribe!

Interested in sales?  Perhaps Insurance, Real Estate, or Finance is your calling..  Click here to get licensed.

Need your Insurance Continuing Education?..Click here to take your continuing education classes online.

Shelley A. Gable is an instructional designer and freelance writer. She has developed training for functions such as financial services, call centers, and engineering education. Shelley writes articles on topics related to training and management for print and online publications. Visit Shelley’s website at http://shelleygable.wordpress.com.

Continuing Education on Consumer Plans: The Future

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By Cathy Miller, Business Writer 

This is the last in our 3-Part series on the consumer plans, the Health Savings Account (HSA) and Health Reimbursement Arrangement (HRA).

In Part 1, we reviewed what the consumer plans are and how they work. With Part 2, we reviewed the participation and asset numbers associated with various consumer plans.

In this last part, we pull out our crystal ball and speculate on the future of consumer plans. We’ll start with provisions in the health reform law affecting these plans.

Part 3: Continuing Education on Consumer Plans: The Future

Health Reform Impact

There were many discussions surrounding consumer plans during the health reform debate. Some of the changes made by the health reform law impact all types of personal health care accounts, while other provisions target specific accounts. Here are some of those changes. 

Impacts All Personal Health Care Accounts 

This series focused on two types of personal health care accounts: HSAs and HRAs. For purposes of background information, the following is a brief definition of the other accounts impacted by the changes discussed in this section.

  • Flexible Spending Accounts (FSAs) – offered to employees by employers – allows employees to set aside a fixed amount of their wages on a pre-tax basis for qualified medical expenses and child care. The fixed amount occurs at the beginning of the benefit period and employees lose any unused funds at the end of the year. 
  • Archer Medical Savings Accounts (MSAs) – authorized prior to HSAs, MSAs were savings accounts limited to self-employed individuals and employers with fewer than 50 employees. New Archer MSA accounts were not permitted (with limited exceptions) after December 31, 2007.

The following are the health reform provisions affecting HSAs, HRAs, FSAs and Archer MSAs:

Qualified Medical Expense – the definition changed, it no longer includes over-the-counter (OTC) medications, unless a prescription accompanies the purchase. Previously, this was an attractive, qualified expense for individuals with an FSA, where funds are lost if not used by the end of the year. Account holders shopped at the local drug store to stock up on items like aspirin, band-aids and cold remedies to use up their funds. Not surprisingly, there was some abuse, which prompted this change.

Effective Date of Change: 2011

Excise Tax - The much-talked about cadillac plans, with the 40 percent excise tax, include the employer’s contributions to HSAs, HRAs and FSAs, when calculating the benefit value. The excise tax applies to employer-sponsored benefits in excess of $10,200 for single coverage and $27,500 for family coverage. The good news/bad news is this change doesn’t take place until 2018. That could be a good thing, if the provision undergoes changes, so the forecast of the tax impacting 60 percent of large employers does not come true. The bad news is if the provision stays the same, it could have a huge impact on most employer-sponsored health plans.

Effective Date of Change: 2018

Impact to HSAs and MSAs

The only other change related to HSAs and MSAs is the tax penalty on funds used for non-qualified medical or non-medical expenses. The penalty increases from 10 percent to 20 percent.

Effective Date of Change: 2011

Impact to FSAs only

Currently, FSAs have no maximum contribution limit for health care accounts (there is a $5,000 limit for child care). The health reform changes that with a cap of $2,500 annually in FSA contributions to health care accounts.

Effective Date of Change: 2013

Polishing the Crystal Ball

There you have the changes from the health reform law. Since new legislation seldom looks exactly the same on the effective dates, expect more changes.

HSAs appear to be the front-runner in consumer-directed health plans (CDHPs). FSAs and HRAs cannot be coupled with an HSA (except for a limited purpose FSA or HRA).

The complexity of dealing with multiple personal health care accounts has critics amongst many employers and taxpayers, as well. The speculation is for the elimination of FSAs and HRAs. Perhaps that is why the primary focus on change targeted HSAs.

State health insurance exchanges start operation in 2014. At this point, the word is CDHP policies will still be available. Other provisions of the health reform law could impact the high deductible health plans (HDHP) required for HSAs. Some of those provisions include:

  • Preventive care – requires new health plans to cover preventive services with no co-payments and it exempts the services from deductibles. Yet to be determined is the definition of what services fall under “preventive.”
  • Essential health benefits package – set by Health and Human Services (HHS), health plans must have services with an actuarial value of at least 60 percent.

The health reform changes and the tweaking of those provisions will certainly affect consumer plans. Other provisions that require careful attention are the medical loss ratio and excise tax requirements. All of these changes set the course for the future of CDHPs.

At least in the immediate future, I believe consumer plans survive; however, the products are already much too complex for consumers. The layering of even more regulations present many challenges. On a positive note, that strengthens the role of the insurance professional.

What is your prediction for the future of consumer plans?

Sources: The Henry J. Kaiser  Family Foundation and Council for Affordable Health Insurance

Notice of Disclaimer –Cathy Miller and InternetCE are not attorneys and cannot provide legal advice. The information provided is for your general background only, and is not intended to constitute legal advice as to your specific circumstances. We recommend you review legislation with legal counsel.

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If you appreciate these ideas, it’d be swell if you would share them (buttons below) or subscribe via the feed.

Click here for 5 reasons why you should subscribe!

Interested in sales?  Perhaps Insurance, Real Estate, or Finance is your calling..  Click here to get licensed.

Need your Insurance Continuing Education?..Click here to take your continuing education classes online

Cathy Miller, Business Writer/Consultant has over 30 years of professional writing with a specialty in health care, employee benefits and wellness. Cathy also has an active Life/Accident/Health insurance license. Visit Cathy at her business writing blog, Simply stated business to Keep it simple, clear & uniquely yours