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Tax credits are a critical component of optimizing business profitability and finding offsets for the ever-increasing costs of benefits. Are your clients leveraging the Worker Opportunity and R&D tax credits that may apply to them? Most business fail to utilize these credits to their full extent, leaving thousands upon thousands of dollars on the table. Typical R&D tax credit studies return an average of approximately $30,000 for every $1MM in payroll! Eligibility extends back 3 years – so there’s urgency in providing your clients with this incentive. Click on the image to watch a brief video.

In addition to leveraging tax credits, your clients can take advantage of interest only loans up to and exceeding $1MM to build a superior nest egg. Deposited into an Index Account, the funds grow free from market risk – tax deferred. The proceeds supplement retirement income. At the owner’s death, the loan is repaid and any remaining amount is distributed to the beneficiaries.

These are just a few of the novel strategies that are critical to retaining benefits clients in an increasingly competitive and costly market. To learn more, contact us.

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HDHPs have become a common way to sell “affordable” solutions to employers and employees alike. But the real costs are high as most participants see little to no coverage until they’ve spent between $8,000 and $10,000 in combined premiums and out of pocket expenses. This decreases plan enrollment and satisfaction, causing your clients and prospects to look elsewhere. Offering products to fill the coverage gap can dramatically increase program participation and satisfaction, strengthening retention for you and your clients.

With costs as low as a few hundred dollars per employee per year, supplementary GAP coverage can grow your book of business while providing your clients significantly greater value. The coverage can be introduced as an employer-provided benefit, an employee contribution, or any combination therein, allowing for dramatically increased flexibility in addition to higher plan satisfaction and employee retention. These all translate into stronger renewal and referral opportunities for your agency.

Read more and watch our video at: http://cheltenbenefitsgroup.com/medigap-rest-us/

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5 Strategies to Separate Your Services From the Pack

  • Posted on August 24, 2017
  • by Admin

1. Level Funded Premium. Our plans pay 10% commission on the total premium. We call these plans “return of premium” plans. I -you don’t use all your claims dollars, you get an end of year refund. But, here’s the deal: find the least expensive HDHP option. Employers can’t get a lower plan cost than bronze.

2. Group GAP plans. Millions of Seniors purchase Medigap plans to fill in holes in Medicare A&B. Employer groups can offer the same strategy. Offer workers several Group “GAP” plans to fill in holes in HDHPs. Learn more about GAP coverage: http://cheltenbenefitsgroup.com/medigap-rest-us/

3. Smartphone Video Benefits App. Let your employees “watch” 60 second video clips of all their benefits 24/7! HR personnel and employees love this service, and your competition doesn’t offer it. Samples available at http://cheltenbenefitsgroup.com/communications/.

4. Stryde Cost Recovery Services. Let’s face it, at some point, we won’t be able to find any more health plan savings. You may be there already and yet your client won’t listen. They want savings. Look beyond health costs for your answer. You can now offer a cost audit service that recovers taxes, overpaid utilities, uncovers federal credits and more. Just show them our 60 second calculator and they will marvel at how much money you have recovered for them. To learn more, contact us.

5. Business Owner’s Retirement Plan. We represent Commercial Lenders willing to lend your clients $1,000,000 or more on an “interest only” basis. These funds are then deposited into an Index account, for the Owner’s benefit, free from market risk, growing tax deferred.At retirement, the Owner can receive lifetime proceeds “tax free”. At the Owner’s death, the loan is repaid and any remaining funds are distributed to the Owner’s beneficiaries, tax free. http://cheltenbenefitsgroup.com/business-owners-retirement-plan/

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As critical 4th quarter renewals are now on the horizon, it’s time to think about how you can really set yourself apart. In the increasingly competitive benefits landscape, what will make your clients inclined to stay with you? What will attract prospects to you from other competing benefits agents? Peddling the same tired solutions with flat pricing isn’t likely to impress, and most benefits programs will actually see an increase in costs – generally a major obstacle in the renewal process.

High deductible health plans can prove quite effective at lowering costs to employers, and can even lower upfront costs for employees as well. But we all know that the upfront costs aren’t the whole story. Most savvy benefits consumers are already aware that HDHPs lack the coverages necessary to receive consistent preventive care and responsive care – they’re little more than emergency protection. This makes employers (your clients) who offer exclusively HDHP seem uncaring and out of touch.

Enter GAP plans. Much like medigap for seniors, elective GAP coverages can turn HDHP solutions into highly flexible and personalized offerings that work for all employees and reduce long-term costs for employees and employers alike. The satisfaction rate among elective coverages is tremendously high – over 94% of seniors either like or love their plans. The HDHP + GAP solution allows you to present your clients (and prospects) with ideas that are both novel and cost-effective. A modern approach to an age-old challenge. Click here to learn more!

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GAP Strategies to Fit Every Type of Benefits Client

  • Posted on July 26, 2017
  • by Admin

GAP plans (Group Supplemental Health plans) are used to fill in holes in HDHPs that most employers offer today – similar to “Medigap” supplemental insurance plans used by Seniors. But these plans are available to anyone, and are considered excepted benefits under ACA guidelines. Offering these alternative or additional coverages can bring additional business to your agency and drive increased commissions. There are three GAP strategies that make a compelling case to clients and prospects:

“Insured HRA” strategy. Save money and duplicate or improve existing coverage. Combining a Bronze plan with GAP plan(s) can offer savings and even offer employees better coverages.

“Cadillac Tax” strategy. ACA Bronze plan base coverage, then allow employees to “pick and purchase” the right amount of GAP coverage.

“Private Exchange” strategy.  One Bronze plan base plan with multiple “buy up” GAP options. Instead of offering several major medical plans, simply give employees a strong network PPO Bronze plan and offer them several GAP plan options to “pick and purchase” the levels of GAP coverage they desire.

To learn more about how gap strategies can grow your book of business and drive increased commissions, contact us.

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Selling Benefits with GAP Plans

  • Posted on June 13, 2017
  • by Admin

Group Supplemental Health plans or GAP plans are used to fill in holes in High Deductible Health Plans that most employers offer today – similar to “Medigap” supplemental insurance plans used by seniors. But these plans are available to anyone, and are considered excepted benefits under ACA guidelines. Offering these alternative or additional coverages can bring additional business to your agency and drive increased commissions. Click on the image to the right to watch a brief video. This is an example of the tools you’ll be able to use with and for your prospects and clients.

There are three GAP strategies that make a very compelling case:

Private Exchange – One Bronze plan base plan with multiple “buy up” GAP options. Instead of offering several major medical plans, simply give employees a strong network PPO Bronze plan and offer them several GAP plan options to “pick and purchase” the levels of GAP coverage they desire.

Insured HRA – Save money and duplicate or improve existing coverage. Combining a Bronze plan with GAP plan(s) can offer savings and even offer employees better coverages.

Cadillac Tax – ACA Bronze plan base coverage, then allow employees to “pick and purchase” the right amount of GAP coverage.

To learn more about how gap strategies can grow your book of business and drive increased commissions, contact us.

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shutterstock_252811903 - Copy1. Group GAP plans. Millions of Seniors purchase Medigap plans to fill in holes in Medicare A&B. Employer groups can offer the same strategy. Offer workers several Group “GAP” plans to fill in holes in HDHPs. Learn more about GAP coverage: http://cheltenbenefitsgroup.com/medigap-rest-us/

2. Return of Premium. Our plans pay 10% commission on the total premium. If you don’t use all your claims dollars, you get a refund at the end of the year. This works with Bronze HDHP plans for more health-conscious consumers.

3. Smartphone-Compatible Benefits Videos. Communicate coverage quickly and accessibly through 60 second video clips of all their benefits 24/7! HR personnel and employees love this service, and your competition doesn’t offer it. Samples available at http://cheltenbenefitsgroup.com/communications/.

4. Stryde/GMG Cost Recovery Services. Let’s face it, at some point, we won’t be able to find any more health plan savings. You may be there already and yet your client won’t listen. They want savings. Look beyond health costs for your answer. You can now offer a cost audit service that recovers taxes, overpaid utilities, uncovers federal credits and more. Just show them our 60 second calculator and they will marvel at how much money you have recovered for them. To learn more, contact us.

5. Joint Work 15/5 Agency Growth Plan. Leveraging Stryde Services to enhance client revenue, we parachute you into new prospects seeking similar cost recovery solutions. These prospects become your next batch of Stryde clients as well your next batch of benefits prospects. We can even sell the Stryde services on your behalf as part of a joint work program! Learn more: http://cheltenbenefitsgroup.com/joint-work-15-5-agency-growth-program/.

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The healthcare market has cycled in and out of growth phases for several decades – an indication of a market that neither bleeds (as did the airline industry in that period) nor exhaustively extorts (as in the case of pharmaceutical companies). At present the industry is expanding and maturing to meet new, unique market demands.

In the tumult of PPACA implementation with the potential for transition into new healthcare legislation, both profits and risks for insurance companies have increased. The paradigm is similar for employers – offering more attractive or flexible benefits make for a more compelling environment in which to recruit talent. But at what cost? The key for consumers, employers, and news personnel is to be mindful of the shifting nature of our healthcare system, and to seek out the most current and balanced information available.

This is a crucial opportunity for benefits agents and consultants to steer their clients and prospects in a direction that provides more adaptable and successful coverage solutions. HDHP alternatives like supplemental GAP insurance, cost-effective wellness initiatives, expense recovery solutions, and other novel tools will strengthen client relationships through improved employee acquisition and retention while growing your book of business. To learn more, contact us.

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HDHP + GAP Case Studies

  • Posted on May 23, 2017
  • by Admin

Sometimes the best way to understand how a solution works is to see it in action. HDHP + GAP implementation works for a wide variety of organizations – whether your client or prospect has 50 employees or 50,000. Though the specific coverages vary, the core concept of an inexpensive, bare-bones plan to comply with federal regulations in tandem with elective additional coverage becomes an asset for employer and employee alike.

To illustrate how this solution can help you close more business and retain more clients, read and leverage our case studies. And for more information on these and other novel solutions to improving your book of business, contact us.

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New Stryde Video Sales Tools for Benefits Agents

  • Posted on May 15, 2017
  • by Admin

Our new Stryde videos help agents bring GMG/Stryde cost reduction and expense recovery solutions to prospects and clients across more verticals with targeted messaging. The Stryde program can work for virtually any organization, but our new video target some of the most significant and relevant business sectors, including healthcare, hospitality, and more.

We’ve also created a new video the 15-5 Agency Growth plan leveraging Stryde Solutions to bring agents fruitful joint work opportunities. Click on the image below to visit the new and improved Stryde video page!

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