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Hamilton Edwards
Hamilton Edwards

This document discusses broker concerns with defined contribution plans and how Hamilton Edwards can help by providing private exchange services. It outlines services like customized exchanges, general agency products, implementation support, and education resources. Hamilton Edwards aims to address broker concerns over revenue loss, workload, compliance, and lack of ownership by offering tools and support that maximize income while simplifying administration and enrollment. Case studies provide examples of cost savings and increased broker compensation through Hamilton Edwards' private exchange model.

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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 Exchange Marketing Organization
1. Benefits for the 21st Century 2. Employer Defines Dollars 3. Employee Chooses Plans 4. Employers Have More Control 5. Employees Have More Options 6. Insurance Products Offered On Tax Free 1. Can Be Offered Under A Cafeteria Plan 2. Work in Conjunction with HSAs 3. 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
Supplemental 1. Critical Illness 2. Accident 3. Cancer 4. Hospital Indemnity 5. Life 6. Disability General Agency Top Contracts Health Insurance 1. Major Medical 2. Short Term 3. Limited Medical Selection Criteria Tools for Simplification Ease of Implementation Ease of Administration Works with Private Exchange Non Insurance 1. Telemedicine 2. Patient Advocacy 3. Employee Counseling 4. Travel Medical Coverage 5. Billing Negotiation 6. 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 Edwards 2. Call Center
Broker Compensation Schedule Independent Agency Sales Agent Referral Compensation A B C Broker 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 Example Private 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 Referral Commissions 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 $0 On going fee based on 15 employees Total Monthly Payout $1500 $445.08 $255.10 Includes 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 Payout Home Health Care Agency
Case Example Radiology Group Size Group Current Group Rates (Actual) Private Exchange Example Private 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 Referral Commissions 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 $0 On going fee based on 25 employees Total Monthly Payout $1525 $614 $333 Includes 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 Payout Radiology Group
GA Support Commission Sales Agent Referral Commissions 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 $0 On going fee based on 25 employees Total Monthly Payout $737 $332 $70 Includes Ins. Commission & TPA Fee Payout Total Annual $8844 $3984 $840 Monthly Payout over 12 months $30 PEPM Actual Example Broker Comp Payout Radiology Group Second Year Nothing New No New Hires

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Who is he presentation v1.0

  • 2. 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?....
  • 3. 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
  • 4. Exchange Services Customized Exchange Support & Education General Agency Insurance Non- Insurance Implementation Enrollment TPA Services How Does HE Help the Broker Private Exchange Marketing Organization
  • 5. 1. Benefits for the 21st Century 2. Employer Defines Dollars 3. Employee Chooses Plans 4. Employers Have More Control 5. Employees Have More Options 6. Insurance Products Offered On Tax Free 1. Can Be Offered Under A Cafeteria Plan 2. Work in Conjunction with HSAs 3. Third Party Administration Minimizes Workload for Employer & Provides Compliance
  • 6. 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
  • 7. 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
  • 8. Supplemental 1. Critical Illness 2. Accident 3. Cancer 4. Hospital Indemnity 5. Life 6. Disability General Agency Top Contracts Health Insurance 1. Major Medical 2. Short Term 3. Limited Medical Selection Criteria Tools for Simplification Ease of Implementation Ease of Administration Works with Private Exchange Non Insurance 1. Telemedicine 2. Patient Advocacy 3. Employee Counseling 4. Travel Medical Coverage 5. Billing Negotiation 6. Medical Tourism
  • 9. 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
  • 10. 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
  • 11. Why Would You Want To Partner with Hamilton Edwards? We Know Where The Bodies Are Buried!
  • 12. 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
  • 13. 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 Edwards 2. Call Center
  • 14. Broker Compensation Schedule Independent Agency Sales Agent Referral Compensation A B C Broker 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
  • 15. Case Example Home Health Care Agency Size Group Current Group Rates (Actual) Private Exchange Example Private 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%
  • 16. GA Support Commission Sales Agent Referral Commissions 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 $0 On going fee based on 15 employees Total Monthly Payout $1500 $445.08 $255.10 Includes 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 Payout Home Health Care Agency
  • 17. Case Example Radiology Group Size Group Current Group Rates (Actual) Private Exchange Example Private 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%
  • 18. GA Support Commission Sales Agent Referral Commissions 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 $0 On going fee based on 25 employees Total Monthly Payout $1525 $614 $333 Includes 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 Payout Radiology Group
  • 19. GA Support Commission Sales Agent Referral Commissions 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 $0 On going fee based on 25 employees Total Monthly Payout $737 $332 $70 Includes Ins. Commission & TPA Fee Payout Total Annual $8844 $3984 $840 Monthly Payout over 12 months $30 PEPM Actual Example Broker Comp Payout Radiology Group Second Year Nothing New No New Hires

Editor's Notes

  • #12: We have gone through the trials and tribulations of Defined Contribution