The Dynamic Health Insurance Space facilitates New Product Offerings & Opportunities

Bruce Henry - President

Whatever the name – Major Medical, ACA, Medicare Advantage (MA), Medicare Supplement, Short Term Medical, Hospital Indemnity (Access plan), Small Group and more – the Health Insurance marketplace has proved to be ever evolving – mostly for the better.

What has been very good – is the private sector has been included in the transformation of this process with the introduction of Medicare Advantage (2003) and PPACA (2014), otherwise known as Obamacare (ACA plans). If you sold health insurance pre Obamacare – or Medicare Supplements pre MA – you can really appreciate guaranteed issue products – no waiting periods or rate ups – and most importantly – federal premium subsidies! Clearly – many of our agents have greatly benefited from these new products – including our company.

As we have all recently seen – the ACA space is now looking like the MA space with the introduction of the enrollment scope. This is all for the good of the consumer and continuation of a vibrant ACA market and I applaud it. All of you selling ACA should be happy as well. This should put an end to the ‘theft’ of $0 premium ACA plans by rouge agents.

In tandem with the Scope – we are now hosting Florida Blue/Compass Health ‘welcome calls’ to new enrollees. We feel these are particularly important to the $0 premium policyholder’s so we have affirmation a scope was taken and they fully understand they have been enrolled into an ACA plan with FB. This is one more step to strengthen the policyholder relationship and improve retention.

A funny thing happened on the way to the $0 premium ACA welcome calls……..we learned by asking that approximately 30% of the new applicants are interested in obtaining Dental & Vision! Imagine our surprise! My thought is if they are interested in Dental (which everyone needs and uses) – might they be interested in other products such as Accident, Critical Illness & Life Insurance? After all – they are receiving their health insurance for free – seems like a segment of these folks do have $10 a week to invest in other benefits.

Why am I bringing this up? Because Opportunities abound if you get out of your comfort zone!

While the ACA has brought many great benefits to individual health insurance space – the number of individuals insured over the last 30 years hasn’t changed much. We still insure 20 – 30M individuals in this space. What has changed is who is buying ACA and/or not. While many lower and lower-middle income people have been served by the generous subsidies and are now covered – the new uninsured is the self-employed, small businesses and white collar professionals such as Realtors, CPA’s, General Contractors, etc.

Don’t forget about this market – it is BIG and getting larger all the time. We now have Allstate Health Solutions for this market – a household brand people know and trust! Start working this market – these consumers need our products and many others contained in our ‘Best in Class’ portfolio.

To best support our Company objectives, Agents & Policyholders – we have re-organized the Company so each Carrier and/or Product category is supported by a Department Head. Your customers have many needs – just like you. We hope you will make the time and effort to learn our portfolio and market all the great products we offer to all of your customers – they need you and them!

Compass Health Departments

More Blog Posts

How to effectively cross-sell to your customers!

When I think of cross-selling, it makes me think about car shopping. Everyone goes and buys a car. Of course, there are many car options; the same applies to Health and Life Insurance. Think of Health Insurance like car selling. The client buys the car and needs gap...

The Big 3 of Life Insurance Marketing

The key to successful marketing is getting in front of consumers who want and or need your products. Determining who these people are is the difference between a successful marketing campaign or a failure. So, if you want to have the best chance to sell Life Insurance...

Meet our New Senior Vice President

Most recently VP Purchasing for TBC Corporation, a recognized leader in the replacement tire and automotive service industry.  Managed a team within the Purchasing Group, that sourced ~20M passenger and light truck tires of the...

Cremation is the wave of the future!

Let's be honest: NO ONE wants to discuss this—Cremation! I get it; it's nothing anyone wants to admit, but truth be told, we all will go sometime.  There are many challenges when talking about Cremation, but that shouldn't stop you as an agent from informing people...

Compass Health Headquarters gets a New Street Sign

In the distance, a giant, tall, white metal pole with a blue-lighted box sign can be seen. What sign is it? The Compass Health NEW sign, of course. What a better way of advertising to drivers passing by the office—now they can't miss us! It's been in the works for...

Bruce and Donna turn up at the Heat!

On March 2, Bruce and Donna attended the Florida Blue Suite with Florida Blue Miquel Cruz, Medicare, and David Wagner, South Florida Market President, for the Miami Heat Game. Utah vs. Miami. What a spectacular event. The score...

Just Ask in 2024

Ancillary Products are the key to protecting your clients from physical and financial disasters. These products pay excellent commissions to the writing agent. So why do agents sell so few of these products? Florida Blue Dental  Usable Accident, Critical Illness and...

MA-OEP is ending. Now what?

MA-OEP is coming to an end on 3/30. Let’s all work together to end it with a bang !! *On a side note the Hurricane SEP has been extended once again until 6/30/2024  One thing that you can start doing is setting up Medicare 101. By doing this, you will...

Introducing Our Brand New Compass App

We are excited to announce our NEW Launch of our redesigned Compass Agent App.  Here, you will find a multitude of things you can access:   You can sign in from the app for quick, easy access to upcoming webinars Book your appointments with your clients and new...

Call For a Free Quote