The 1 Question Every Health Insurance Broker Needs to Start Answering Correctly
Here’s the one question every health insurance broker in America needs to start answering correctly.
When it comes to doing what is right for your client, are you willing to put YOUR compensation at risk 100% of the time?
Take a look at how you’re getting paid today?
- Are you getting paid based on a percentage of your client’s stop-loss premium? So, every year their premium goes up, you’re getting a pay raise?
- Is your agency earning compensation off of the number of prescriptions dispensed inside your self-funded groups?
- When you look to place a client in a better financing arrangement, like a captive, does the thought of losing out on a carrier bonus impact your decision?
Listen, I get it. It’s not an easy question to answer. Money often controls the decisions we make in life. However, we’ve made a good living in this industry doing things “the way they’ve always been done.” It’s time we change the broker-pay structure once and for all. It’s time we focus on the bigger problem.
Do you remember when we were all complaining about the impact the Affordable Care Act was going to have on our pay? Yeah, that’s not the problem. It never has been the problem.
The real problem is what has been happening to the working American. It’s their bottom line that’s getting crushed, not yours.
Your clients have health plans with out of pocket limits that are greater than 20% of the average American’s GROSS income. Your clients have $13-15 per-hour employees spending $1,000s on medications. Your clients have employees foregoing care because they simply cannot afford it. THERE IS SOMETHING SERIOUSLY WRONG WITH THIS!
If you’re truly invested in doing the right thing for your clients, it’s time to stop focusing on your wallet and start focusing on results.
Let’s all jump on this bandwagon together so we can build a better future for our clients and our industry.