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No More Compromises
Group Broker Concerns with Defined Contribution
1. Loss of Revenue
2. Too Much Work
• Can I make as much money 1st Year & Beyond?
• DC seems to require so much more to enroll
3. Loss of Ownership
4. Compliance
• I do not want to lose control of my book of business
• “I hear so much about legality of DC”
5. Fear of Unknowns • What is going to happen if?....
Who Is Hamilton Edwards
A Private Exchange Marketing Organization
Providing Services, Products, Marketing and Support including Setup/Implementation to the Broker Community for Employers in a Private Exchange
Exchange
Services
• Customized Exchange
• Support & Education
General Agency • Insurance
• Non- Insurance
Implementation• Enrollment
• TPA Services
How Does HE Help the Broker
Private ExchangeMarketing Organization
1. Benefits for the 21st Century2. Employer Defines Dollars 3. Employee Chooses Plans4. Employers Have More Control 5. Employees Have More Options 6. Insurance Products Offered On Tax Free
1. Can Be Offered Under A Cafeteria Plan2. Work in Conjunction with HSAs3. Third Party Administration Minimizes Workload
for Employer & Provides Compliance
Customized
Exchange
• Agency, Employer, Association Branding
• Flexible Set Up of Products & Services on Website
Support
• Setup & Enrollment via Call Center or One On One
• TPA Support
Education
• On Line Training
• Innovation to Market
• Benefit Partners University
How Does HE Help the Broker
Private Exchange Services
Worksite
• Top Contracts
• Best in Class Products
• Best in Class Enrollment Tech Platform
Individual
• Major Medical
• STM
• Medicare
• Voluntary
Non Insurance
• Patient Advocacy
• Telemedicine
• Medical & Domestic Tourism
How Does HE Help the Broker
General Agency Services
Supplemental1. Critical Illness2. Accident3. Cancer4. Hospital Indemnity5. Life6. Disability
General AgencyTop Contracts
Health Insurance1. Major Medical2. Short Term3. Limited Medical
Selection Criteria • Tools for Simplification• Ease of Implementation• Ease of Administration• Works with Private Exchange
Non Insurance1. Telemedicine
2. Patient Advocacy3. Employee Counseling4. Travel Medical Coverage5. Billing Negotiation6. Medical Tourism
Full Service
• Set Up and Structured Enrollment
• Maximize Revenue through Cross & Combo Selling
Support Only
• Provide Materials
• Answer Questions
• Provide Guidance & Direction
Call Center
• Inbound & Outbound
• Direct Non Payroll
• TPA Services
How Does HE Help the Broker
Implementation
1. Products/Services
2. Ownership
• Top Contracts Insurance & Non-Insurance
• As An Agency You Can Own Your Book of Business
3. Innovation
4. Compensation
• Best Alliance Partnerships in the Country in Overall Innovation – Technology & Services
• Remain competitive and grow market share
• Proven System That Maximizes Income Stream
5. Support • Provide or Support Enrollment, Sales, & Marketing
Why Would You Want To Partner with Hamilton Edwards?
But More Important Than Anything Else…
Why Would You Want To Partner with Hamilton Edwards?
…We Know Where The Bodies Are Buried!
Ways Brokers Can Do Business
Send Implementation to Call Center
Connect Call Center with
Employer
Handle Implementation
Internally
1. Broker Sales Case
2. Broker Decides How to Enroll
Case 3. Manage &
Service Account
Weigh What is Best for ROI for Agency & Client
Call Center Sends Reports Of Who Enrolled to Agent Cubed
Ways Brokers Can Do Business
Referral
Broker Refers the Business
Handle it All
1. Broker Sales Case
2. Broker Decides How to Enroll
Case 3. Manage &
Service Accounts
Broker Can Refer, Handle the Whole Thing,Or Something In Between
Sales Only
Outsource Enrollment 1. Hamilton Edwards2. Call Center
Broker Compensation Schedule
Independent
Agency Sales Agent Referral
Compensation A B CBroker A
Maximum Comp. Structure.
Has GA Support Health Insurance 100% 30% 20%
Supplemental Insurance 100% 29% 20% Broker B
Sales Case/Helps Set up
Enroll TPA Fees
Paid % Anything Above $10 PEPM
<$2000/Mo. Revenue 50% 30% N/A Broker C
Referral Only
>$2000/Mo. Revenue 100% 30% N/A
TPA Set Up Fees 100% N/A N/A
* TPA Set Up fees can be $50 to $150 1 time/per person
Case Example Home Health Care Agency
Size Group Current Group Rates
(Actual) Private Exchange ExamplePrivate Exchange
Actual (Final)
$2,500 $2,500 Deductible Includes (Supplemental)
Employees Current Best Worst Accident/HI
15 Employees $10,776.00 $5204.69 $6174.65 $5,689.73
Proposed Savings $5,517.31 51.20% Actual Savings $5086.27/47.2%
GA Support Commission Sales Agent ReferralCommissions Based on Total Comp
(Monthly)
Total Ins Comm(Monthly) $1275.50 $377.58 $255.10 $5689.73
Commission Admin Fees
Set up Fee ( 1 Time) $750 1 Time Charge Set Up $50/per. Fee
On Going Monthly Fee $225 $67.50 $0On going fee based on 15
employees
Total Monthly Payout $1500 $445.08 $255.10Includes Ins. Commission &
TPA Fee Payout
Total Annual $18,006 $5340.96 $3061.20 Monthly Payout over 12 months
Break Down $100 PEPM $30 PEPM $17 PEPM
Actual Example Broker Comp PayoutHome Health Care Agency
Case Example Radiology Group
Size Group Current Group Rates
(Actual) Private Exchange ExamplePrivate Exchange
Actual (Final)
$3,500 $3,500 Deductible Includes (Supplemental)
Employees Current Best Worst Accident/HI
25 Employees $9,273 $6227 $7606 $7,240
Proposed Savings $3045 32.8% Actual Savings $2033/22%
GA Support Commission Sales Agent ReferralCommissions Based on Total Comp
(Monthly)
Total Ins Comm(Monthly) $1593 $500 $333 $7240
Commission Admin Fees
Set up Fee ( 1 Time) $1250 1 Time Charge Set Up $50/per. Fee
On Going Monthly Fee $275 $114 $0On going fee based on 25
employees
Total Monthly Payout $1525 $614 $333Includes Ins. Commission &
TPA Fee Payout
Total Annual $18,300 $7368 $3996 Monthly Payout over 12 months
Break Down $61 PEPM $25 PEPM $13 PEPM
Actual Example Broker Comp PayoutRadiology Group
GA Support Commission Sales Agent ReferralCommissions Based on Total Comp
(Monthly)
Total Ins Comm(Monthly) $362 $109 $70 $7240
Commission Admin Fees
Set up Fee ( 1 Time) $0 (New Hires $50) 1 Time Charge Set Up $50/per. Fee
On Going Monthly Fee $375 $223 $0On going fee based on 25
employees
Total Monthly Payout $737 $332 $70Includes Ins. Commission &
TPA Fee Payout
Total Annual $8844 $3984 $840 Monthly Payout over 12 months
$30 PEPM
Actual Example Broker Comp PayoutRadiology Group – Second Year – Nothing New –No New Hires