Eric Silverman is one of the most disruptive forces in the area of “enhanced benefits”. You may have been calling them “voluntary” or “ancillary”, but Eric is passionate in his belief that neither of those words make the case for a benefit offering that is more important to clients and employees than ever before.

In this fast-paced interview, Eric explains how advisors interested in enhanced benefits fall into four distinct classes and delves into which group you want to be in for maximum productivity and client satisfaction. If you are currently active in this space or if you have been on the sidelines thinking about how to incorporate these solutions into your practice’s offerings, make sure to listen to this episode.

What You’ll Learn From this Episode:

  • Why language is important and the specific messages it sends when it comes to benefits.
  • What the four classes of advisors are as it pertains to enhanced benefits.
  • What two keys are for success.
  • If and when using professional enrollers is practical and advisable.
  • Why the current marketplace and today’s plan designs are driving enhanced benefits.

Featured on the Show:

Listen to the Full Interview:

This Episode is Sponsored by:

Enjoy The Show?

Subscribe-with-iTunes-smallSubscribe-with-Stitcher-smalliHeartRadio-small

ShiftShapersCoverArt

Drug costs are soaring and driving more of medical spend than ever before. The good news is that there are tools coming to market to help consumers and plans alike.

That is what our guest, Gary Becker, CEO of ScriptSourcing and I discuss on this episode. We begin with an exploration of why prescription drugs are so much more expensive in the United States than they are in other countries. We discuss the particular drugs that are driving the pharma cost component to all time highs.

Gary explains the three strategies being employed by many plans and discusses how advisors can have this conversation with their clients. We conclude our conversation with Gary’s view that advisors must start charging for their services on a quantifiable, performance-based structure.

What You’ll Learn From this Episode:

  • Why drugs are so expensive in the USA.
  • How pharma is driving medical spend consistently higher.
  • The expected increases in pharma costs in the coming years.
  • What constitutes international pharmacy management.
  • How specialty meds fit into the pharmacy market.
  • The landscape of international pharmacy tourism and its effects on the pharma market in the US.
  • Whether advisors should bring this model to their employers, and whether they should get compensated on a percentage-of-savings basis.

Featured on the Show:

Listen to the Full Interview:

This Episode is Sponsored by:

Enjoy The Show?

Subscribe-with-iTunes-smallSubscribe-with-Stitcher-smalliHeartRadio-small

 

 

ShiftShapersCoverArt

This week on the ShiftShapers podcast, Sal Campanile stops by to help us explore the world of voluntary benefits. Sal is the Vice President of Workplace Voluntary Benefits and Group Sales for 5-Star; the insurance company for the Armed Forces Benefits Association.

Voluntary benefits create a more enriching and satisfying experience for the consumer. They exist to support an insurance package, not detract from it. However, in a market where consumers primarily differentiate between services based on price, Sal provides practical tips for advisors who want to grow their business by incorporating  voluntary benefits.

There are plenty of options available to consumers when it comes to benefits packages. Sal speaks to the shifts on the horizon as well as the opportunities that advisors can leverage by offering voluntary benefits. We’ll talk about just how advisors can help clients understand the need for these services from a holistic approach that relies heavily on education.

What You’ll Learn From this Episode:

  • How the military market 5-Star serves has informed their work in commercial markets.
  • 3 core elements advisors need to be successful.
  • 3 additional components advisors need to keep in mind.
  • How advisors can help consumers see their benefits as a whole package rather than non-related coverages.
  • Some of the key differentiators that resonate with consumers.
  • The pros and cons of running your agency as a general practitioner or hiring a voluntary benefits specialist.

Featured on the Show:

Listen to the Full Interview:

This Episode is Sponsored by:

Enjoy The Show?

Subscribe-with-iTunes-smallSubscribe-with-Stitcher-small

ShiftShapersCoverArt

On this second part of our look at the voluntary benefits, we invited Frank Doherty and Brian Jund, Co-founders of National Benefit Partners, to the ShiftShapers podcast to discuss their particular area of specialization – the large group market.

Join us to discover how the large groups have used voluntary benefits in the past and how new benefits are coming to market. We also explore how PPACA has accelerated the interest in voluntary products as a key part of an employer’s overall benefit strategy.

Frank and Brian discuss some of the innovative, non-traditional, solution-based offerings in the VB space that have come to the forefront in the recent years. We also explore the hurdles consultants have to overcome when having effective conversations with clients and prospects and the key role technology plays in the implementation process.

Don’t miss this in-depth look at the similarities as well as the key differences in voluntary benefits offerings, technology and marketing in the large group segment.

What You’ll Learn From This Episode:

  • The large group voluntary benefit offerings of the past.
  • Whether the large employers have been at the forefront of voluntary benefits.
  • How PPACA has impacted the interest in voluntary benefits.
  • Some of the newer, innovative benefits being offered.
  • The role of technology in successful large group voluntary sales and implementations.
  • Whether the large group compensation is structured differently than small group.

Featured On The Show:

Listen To The Full Interview:

This Episode is Sponsored by:

ProtectPlans250pw

Enjoy The Show?

Subscribe-with-iTunes-small Subscribe-with-Stitcher-small

ShiftShapersCoverArt

For many advisors, voluntary benefits have gone from being a specialty area to being an integral part of their everyday businesses. Others are finding VB something they want to become a key part of their business. On this first of our two-part series on voluntary benefits, we invited Matt Boeshore and Gail Stark of eVolve Marketplace to talk about this exciting benefits area, specifically for small to mid-size markets.

Matt and Gail discuss what the voluntary benefits marketplace looked like just a few years ago and how it has evolved in the recent years. We discuss the key role of technology and what benefits advisors need to know to be able to have that VB conversation with employers. We also explore some of the newer, more uncommon benefits being offered and discuss the impact PPACA has had this fast-growing area.

Next week, we will look at the similarities and the key differences in offerings, technology and marketing in the large group segment.

What You’ll Learn From This Episode:

  • How voluntary benefits have changed in recent years.
  • How PPACA has changed advisor’s perspective on voluntary benefits.
  • Some of the newer additions to the voluntary benefits offerings.
  • What advisors need to know to have that first voluntary benefit conversation with a prospect or client.
  • The role of technology plays and whether it is a differentiator or just table stakes.

Featured On The Show:

Listen To The Full Interview:

This Episode is Sponsored by:

ProtectPlans250pw

Enjoy The Show?

Subscribe-with-iTunes-small Subscribe-with-Stitcher-small