As a benefits broker with split emphasis in group and individual plans, I seem to be more comfortable with presentations to individuals and less comfortable with presentations to groups. Perhaps the reason why is that I have numerous opportunities to hone my presentation skills with individuals. The group prospects are fewer and less frequent and require more specific, tailored options to meet their needs.
Nonetheless, I have made the decision to transition to group business. This is not the easy path for me because I find that there is more anxiety leading up to the group presentations for four reasons: 1) group presentations are more involved and must be specifically designed requiring more information and preparation than individuals, 2) opportunities for group presentations (at least for me to date) are less frequent, 3) there is more to lose if the group is not written, 4) more persons are involved in the decision, making for a complicated process.
Recently I presented a consumer driven strategy of benefits to an employer who was tired of annual 30% increases and changing carriers regularly. The solution we presented would have provided long term benefits for the employer and rate relief for the employees by adopting the use of health reimbursement accounts. The structure would have saved the employee and employees substantial sums with virtually the same benefits, although restructured. Unfortunately the employer was unwilling to take a chance on the new strategy, opting instead to remain with the familiar process of changing to new carrier rates. This same, failed strategy will likely result in the same, failed consequences when they receive the renewal notice in a brief ten months.
We will make the effort to stay in touch with the employer through the next year, providing additional employer information about the benefits of consumer driven plans. When the time is right, either next year or the following, the employer may see the advantages of changing brokers and strategies that could provide long term solutions.
Ed Jones
