The HSA Push, is It Really a Good Deal?

[COInsguy]

Most agents should buy shared or aged until they figure out what they are doing.

Most agents should quit selling insurance...they're no good at it.

Here's why I love shared leads:

Out of 7 calls they get from agents:
2 of them work for carriers, (anthem, kaiser etc) they are 10/hr call reps that don't know much about anything

1 of them is pushing a mini-med and asking for your cc number within 2 minutes on the phone

2 of the people are just total dumbasses that have no business in sales or being allowed to offer insurance

2 of them are decent agents (possibly only 1)


so if you are good at what you do....you should be able to close 50% of the leads that you talk to that are actual fact finders. If your not closing at least that than you have work to do on your closing abilities

 

[somarco]

close 50% of the leads that you talk to

At least 50%, if not more, of the leads I talk to are uninsurable. That means closing 100% of the rest.

Someone is living in a fantasy world . . .

 

[Benefits Man]

imo HSAs are part of the push to recapitalize the banks, they are good deal for most though

 

[Guest]

It's a fantasy in your world, remember just because you can't/don't do it doesn't make it impossible, perhaps uncommon, but not impossible.

Let's get back to HSA's, when you explain them properly, people will choose an HSA more often than not, at any level of intellect.

Why is it that the people who don't buy from you, or buy right away from someone else or don't have money are idiots/losers/retards?

I guess only the people who buy from you are smart right?

There's your fantasy world.

At least 50%, if not more, of the leads I talk to are uninsurable. That means closing 100% of the rest.

Someone is living in a fantasy world . . .

 

[COInsguy]

At least 50%, if not more, of the leads I talk to are uninsurable. That means closing 100% of the rest.

Someone is living in a fantasy world . . .

Do I track my sales closely, when I get someone on the phone do I make it about a quality call to make sure I get through to people.

I won't even post what my ratio is on here because most agents can't believe that some of us can close a the rates we do.

I have spent months doing everything I can to better myself both as a person and as an insurance professional learning from the best (Thanks Rob!) and all the others who I've had the opportunity to work with and learn from to get my sales to where they are today.

So do I live in a fantasy world....well I do enjoy my success, it probably will remain a fantasy to most agents who aren't willing to put in the time, effort, dedication and drive to be successful that 1% of us will
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Let's get back to HSA's, when you explain them properly, people will choose an HSA more often than not, at any level of intellect.

I guess only the people who buy from you are smart right?

There's your fantasy world.

Rob, couldn't agree more!

 

[TXINSURANCE]

I disagree when presented most people will choose HSA. Depends on your lead source and target market.

Wait until they start utilizing services or getting annual female exams.

Cancel rates on exotic plans that are non co pay are always higher than traditional plans that require no education.

I remember a guy who saved $30 a month on hsa vs copay. He loved it. He never goes to the doctor.

Well almost never.

He ran his foot over with the lawn mower on his second day effective.

But hey after $5000 he is covered!!!

 

[Crabcake Johnny]

Question: Do your agents do a side-by-side HSA vs Copay presentation in desktop share? And in your lawmower example he'd owe the same or even more than a HSA since it would be ER and Xray charges - possibly inpatient.

 

[COInsguy]

Question: Do your agents do a side-by-side HSA vs Copay presentation in desktop share? And in your lawmower example he'd owe the same or even more than a HSA since it would be ER and Xray charges - possibly inpatient.

I do go over the differences in HSA Vs. Copay, sometimes through desktop share sometimes just on the phone...depends on the client and my mood at the time.

Once the client understands the differences I basically use this as my close:

"So _______ we've narrowed down these two types of plans and found the best of each, now that you understand how both of these work it's really a matter of which type of risk you want to assume more of.
1. With the HSA you are taking on more risk for the day to day doc visits, Rx and so on, however you are getting the lowest overall risk for something major.
2. With the copay plan you have less risk for the day to day expenses but a greater exposure for something major such as accident, illness, or surgery.

That Being said do you want to take more risk on the daily stuff or would you rather it be for the major life events?"

This to me is a great way to put it in perspective for people and it's also an awesome assumptive close.
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I disagree when presented most people will choose HSA. Depends on your lead source and target market.

Wait until they start utilizing services or getting annual female exams.

Cancel rates on exotic plans that are non co pay are always higher than traditional plans that require no education.

I remember a guy who saved $30 a month on hsa vs copay. He loved it. He never goes to the doctor.

Well almost never.

He ran his foot over with the lawn mower on his second day effective.

But hey after $5000 he is covered!!!

So if you had sold him a copay plan for the same price he would have had some doc visits paid at $30 but his deductible/coinsurance would have been higher and he would have paid more?

Sounds like he could have used an accident plan to supplement

 

[TXINSURANCE]

So if you had sold him a copay plan for the same price he would have had some doc visits paid at $30 but his deductible/coinsurance would have been higher and he would have paid more?

Sounds like he could have used an accident plan to supplement

He was quoted a plan with ER copay of $100, $30 unlimited office visits that where inclusive of lab / xray and this was an 80/20 plan with $3000 stop loss.

vs.

HSA which was 100/0

Due to male and young age the price spread was nominal between the two.

On the co pay plan he would have paid about $100 at the ER, his multiple office visits down the road would have been at $30 as well.

Funny you should mention accident plan. Since 100% of my clients are offered an accident plan WITHOUT EXCEPTION no one can come back complaining it was not offered, no one.

He in fact declined the accident protection which turned out to be a $5000 error on his part.

I have a HSA. I had an old MSA back in the day, I am not new to these concept plans by any means. They do work well for SOME and not others. In the short term is where high deductibles and catastrophic plans can bite you.

I have never had a client call and tell me they had a claim with significant out of pocket "buy hey look at what I am saving each month in premium...". Never. It is more like "this insurance didn't pay for anything!!! blah blah blah..."

They forget the big picture and LONG TERM savings when they are staring at a large bill.

Don't believe me - look at what percentage actually FUND a HSA account that are eligible. I have no doubt John has this statistic, it is so low it opens the question if these plans are being sold to the wrong people and wrong recommendations.

But hey the Democrats and Obama hate HSA plans so this whole thread is somewhat ironic as HSA's are somewhat on the chopping board to new mandate heavy government plans subsidized by borrowing money we do not have. LOL.

 

[dgoldenz]

Companies still have co-pays without deductible for ER on an individual plan?