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Renewals made simple sounds like a pipedream or a wish especially this time of year when the deadlines are looming, and everyone is looking for the best plan for their team. What if it wasn’t so complicated? There are a few simple steps when paired with an all-in-one platform like MyHealthily’s where your renewals go from taking days and weeks to taking 45-minutes and a single call. Allowing you and your team to take the fourth quarter stress off and not only better assist current clients but grow your business.

First Things First

Prior to setting up a call with your client review their current plan pricing and renewal pricing, by inputting their employee census (which you can read more about here) into the platform.

Is their rate increasing? If so, that is not abnormal, but another plan could offer them the same or more coverage benefits at a better rate. If you already know what is most important to the client, select plans to compare or have a few carriers and plan options on hand to add to the comparison tool once you start their coverage conversation. Be sure to look at items included in plans that could help clients save year over year by lowering their number of claims. These can be non-insurance benefits like Prosper Benefits from MyHealthily. Prosper Benefits boasts a $0 co-pay and provides 24-hour access to counselors, physicians, veterinarians, and so much more.

The Helpful Phone Call

Once on the call with your client go over their current plan and learn what they like or dislike about this plan- this is where your prep comes into play. Using your plans chosen for comparison, remove plans that no longer fit the client’s needs, and add others they might find helpful in fulfilling their health insurance needs. Go over the pros and cons of the plans with your client and be sure to answer any questions ensuring you always circle back to what they like or dislike about their current plan and how this other option could be helpful. Maybe it’s time to investigate alternate funding options, like level funded plans. Fully Insured plans are the most expensive option for managing your client’s risk. Level Funded plans often save 10% or more.

Ultimately, a client’s plan choice is theirs to make, but as an informed broker you are there to guide and direct them. By using a platform with more carrier and plan options, you provide clients with a better range of plans to fit their specific needs- helping to grow their trust and loyalty.

A Button Click Begins Enrollment

Once your client has made their health insurance and ancillary selections with the click of a button, they are able to request their employees to enroll or waive coverage. What would normally be days or weeks’ worth of back and forth between you and two, maybe three carriers, and a client has taken place in less than an hour. Enrollment emails have been sent to all employees and the process has started! The simplification of renewals through the MyHealthily platform provides you with the time to now assist other clients and continue to grow your business.

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