Products
What is the difference between Voluntary and Contributory coverage
Contributory - Employer pays the premiums
Voluntary - Employee pays the premiums
What do we call the spreadsheet that we use to present to clients what their options are?
Quote Comparison!
Who do we direct requests for ID cards too?
Frazier Rice!
When an employer has ___ Employees, they have to offer health insurance. Bonus: How much of the premium does the Employer have to pay?
50 Full Time Equivalents
50% of the employee only premium
What is the ballpark average monthly cost for an Employer with 10 employees to offer a health insurance plan?
Average employee only premium is $500 per month, assuming an employer only pays 50% of the employee only premium that is $250 per employee, so $2,500 per month for 10 employees.
1. Dental
2. Vision
3. Group Life
4. Voluntary Life
5. Short Term Disability
6. Long Term Disability
7. Accident
8. Critical Illness
9. Wellness Plan
What technology do we use to maintain our group sales and renewal pipeline?
Trello
What info is needed from a prospect to be able to go out to bid with the carriers? (Bonus: if you can include what employee demographic information is required)
Census - First Name, Last Name, Date of Birth, Gender, Zipcode
Company Name
Company Address
Company Tax-ID
Effective Date
Current Plan Designs
Current Premiums
Renewal if available
If an employer has 75 employees do they have to file a 5500 Form?
No
New Hire Waiting Period of first of the month following 60 days.
Employee Classifications - Owners 100%, Managers 75%, and Default 50%
Base Plan and Buy Up Option
What are the different models of health insurance for a group medical plan?
Fully Insured
Level Funded
Partial Self Funded
Self Funded
We have a tool that allows us to build electronic benefit booklets, it creates a custom website, live updates can be made. What is the tool called?
Brite
How many days does the quoting team need to be able to provide underwritten, discounted, and negotiated quotes?
7-10 business days
An employee has a 1st job that they are enrolled in benefits. Then the employee get's a 2nd job that offers benefits. They drop the coverage through the 1st job and add the coverage through the 2nd job. But then they quit the 2nd job before the benefits start, then ask their 1st job if they can enroll back on the benefits. Is this a qualifying event in Utah?
Nope!
If a group has employee who want IHC Network and Non-IHC network what is a good strategy to give everyone access to their preferred network?
RBP - Reference Based Pricing
What is included in the Apollo Primary product?
Concierge Telemedicine
Direct Primary Care
Tax Savings
What is the name of our main Human Resource Information System (HRIS)? (Bonus: if you can name 4+ more)
Employee Navigator
Prism (Ampian)
Clasp (Eddy)
Gusto
Paycom
Some carriers require Medical Questionnaires in order to provide an underwritten quote. Who do we email when we want to start Medical Questionnaires for a new group? (Bonus: Explain the process.)
Sean Kelly from AllState
Mike Starks from Paragon Partners
Bonus: Email Sean with the name of the group, Sean will respond with a link "Group Name Medical Questionnaire", send the link to the group point of contact to distribute to employees, follow up with Sean and Point of Contact until IMQs are done, once the point of contact indicates that is all who will compelte the IMQs tell Sean to send it to underwritting, request a copy of the medical questionnaires, save them to the database, distribute to other carriers who medically underwrite.
An employer asks what the rules are on contributing to their employees HSA. What are the rules?
Have to be consistent with all employees!
If an employer is offering only an HSA plan, and doesn't want to add a copay plan to the menu, what is another solution to enhance the benefit package?
Full menu of Voluntary Benefits
Apollo Primary
Direct Primary Care Membership
How does a GAP plan work?
It reimburses a person their deductible/out of pocket costs
What do we call a connection between a benefit admin system and the carrier or payroll company?
EDI
API
Data Feed
If you are introduced to a prospect on August 11th, what effective date should we target? (Bonus: If you can explain the timeline and recommend dates for Open Enrollment.)
October 1st is the soonest, but November 1st is ideal.
When is the PICORI filing due
July 31st for the client
June 30th for the brokerages
What percentage of surplus can an employer get back on a partial self funded from HealthEZ?
100%