What Small Business Health Insurance Solutions Can You Offer?

While members of Congress decide whether or not to make Association Health Plans into law, the media has placed a spotlight squarely on the small business health insurance needs.

Meanwhile, health insurance agents are turning this publicity into a marketing opportunity.

Keeping A Close Eye On Benefits

One way to keep your small business accounts close is to constantly monitor premiums and benefits.

If you’re an independent agent, you can be on the alert for changes in the premiums and benefits of different carriers. You can help small businesses get the most coverage for their money. If the premiums increase or coverage changes, you can find out what other carriers are offering.

It probably isn’t in a small business’ interest to change policies every time premiums or coverage change. But keeping your small business clients updated on their policy isn’t purely a matter of encouraging them to switch. It’s also a matter of building trust.

Combining Old And New Options

Many small businesses are moving to a new health insurance option – the health savings account.

Businesses can reimburse their employees for a high-deductible health plan and make contributions to a health savings account. This lets businesses provide coverage for workers without chewing through their profits. Workers save money by paying lower premiums, and have the security of insurance that moves with them to their next job.

Business owners can choose to contribute to their worker’s health saving accounts. Not only do they get tax breaks for doing so, but it also gives them an extra benefit to offer when recruiting new employees. Offering any kind of health care benefit was off the table for many small businesses until now.

Many small businesses that already have health insurance plans are looking to switch to HSA plans. They are often providing their employees with the option of choosing between a traditional plan and an HSA. Since businesses stand to gain more from HSAs rather than traditional plans, many offer incentives or savings to employees who switch to HSA plans.

Staying In The Market

If you’re going to actively pursue the small business health insurance market, you’ll need to make sure they know who you are.

Phone around town and speak with local business owners. Mention how offering health insurance can make a business more attractive to its current and potential employees. And let them know that you’re happy to sit down with them and discuss their needs.

Also try using internet health insurance leads. Many people turn to the internet to get health insurance information and quotes. By using these leads, you can bring your offer to people who are interested – and qualified.

If you’re going to provide health insurance solutions to small business, you can’t just be someone they find in the phone book. You need to go out of your way to show them that you are an insurance professional – and that you’re ready to help solve their health insurance problems.