As you’re reading this, your clients are worrying.
They’re worrying about how they’re going to afford to pay for healthcare for their employees next year. They’re worrying about how and when to get their employees back to work safely during a pandemic. They’re worrying about how they’re going to stay competitive in a tough marketplace.
They’re not worrying about next year’s health insurance plans. But they are worrying about how to pay for them, and some about whether their companies will be around to even do so.
This is the situation you, as a broker, are facing. Your clients are scared and paying for healthcare is a big reason behind their fear. They know something needs to change, but they’re not sure what that something is, or how to do it.
Here’s your chance to step up and lead them out of this wilderness of worry and relieve them of the burden of paying more than what they can afford for health insurance. It’s your opportunity to become the consultant they need at the time they need you most.
You can do it by helping them understand and navigate through some positive changes that will help their businesses not just remain solvent today, but also prosper in the long run.
Break from the past
I’ve often discussed throwing away the dreaded spreadsheet that every broker has used since the beginning of time to sell health insurance. That’s because you can’t effectively sell your services and separate yourself from the pack by selling off an Excel document. That document is an anchor holding you back from being a true consultant, with unique insights and perspectives that add value to your client relationships.
But the spreadsheet is just the beginning of a much-needed break from healthcare practices of the past. Where do you go once the document is deleted from your playbook? You start to talk about the things that your clients really care about–not arcane and bewildering plan options, but the things that are most troubling your clients.
Those things could be a bit different for everyone. Sure, just about everyone’s concerned about rising healthcare costs, especially resulting from Covid-19. But one company might also be tired of the poor service they’ve gotten from their fully insured carrier. Another might be sick of having to choose between good coverage for their loyal employees or a strong network.
The point is, there’s no one size fits all to the concerns that your clients are dealing with today. A traditional one size fits all approach to health insurance doesn’t help.
Embrace the change
Once you’ve ascertained your clients’ unique concerns, start talking to them about changing the way they approach health insurance, but be warned: this may not be an easy conversation to have. Because while your clients know that changes are needed, it’s also true that change–even good change–can be hard to embrace. Clients need to understand where the changes will lead and the benefits that it will yield. They’ll also need you to guide them through the process.
It’d be easy for me to say, “just sell them on Evolution’s partially self-funded insurance,” but I understand that embracing that switch might not be easy for someone who’s used to doing things a certain way, even if that way is part of the reason they’re in a bad situation in the first place.
The thing is, though, changing from traditional, fully funded insurance to one of Evolution’s partially self-funded plans does not have to be hard. Partially self-funded participants continue to receive great insurance, access to the country’s top medical providers, pharmacy benefits, and more–all the things they’re accustomed to receiving.
But the additional benefits are significant for clients:
● Save money by only paying for the claims their employees incur
● Customized plans tailored to their businesses’ priorities.
● Get off the annual health insurance treadmill and onto, as we call it, “the last healthcare plan they’ll ever need.”
● Actionable Data
Give clients what they need
Speaking of which, what your clients really need is for you to meet them where they are right now. They’re at a point where they don’t just want lower premiums and excellent coverage, they need these things in equal measure. They are table stakes for the success of their businesses. And they need you to help them achieve this success.
This is your chance to be something more than just a broker to them. Are you ready to take it?
Alan Wiederhold is executive vice president at Evolution Healthcare. Alan oversees Evolution’s strategy for providing brokers and their clients with cost-effective health insurance options that save money without sacrificing care. He is an author, national speaker and self-proclaimed healthcare nerd focused on creating new strategies for employers.