If you can FOCUS for a few minutes, I’m going to share with you how you can save a lot of money on those crazy monthly health insurance premiums…
A couple housekeeping things before we really dive deep…
- Be sure to stick around for the whole webinar because I’ll give you all the information you’ll need to save hundreds of dollars every month and possibly thousands of dollars every year…
- If you’re eligible for subsidy through Healthcare.gov and already get your insurance for a very low monthly premium…This webinar isn’t for you…This webinar is for those who aren’t eligible for tax credits through the ACA and have to pay the full premium for their health insurance…
- I’m sure the misinformed haters and trolls will leave their comments without sticking through the whole webinar and that’s perfectly ok…
You’ll be able to notice who they are…
Again, be sure to stick around for the whole webinar because you’ll have all the knowledge you need to make this happen and be on your way to save a lot money every month…
So I’m going to confess to you right now…
I’m not the smartest man in the world but I’ve learned that success leaves clues…
There are many successful and smart people in this world and what I’m going to show you is how those people save money on their health insurance premiums…
So together, let’s be like the smartest people in the world, and let me give you the most valuable experience that I could ever share…
Now this is not going teach you how your health insurance works or where to shop for health insurance…
You can find those videos on my website…
Rather this is sharing with you the experience that has taken me several years to realize in a short webinar…
Now before I get into the secret, I want to caution you not to assume as I reveal this strategy, that it’s not for you…
Because there are terms you’ll hear that you’re somewhat familiar with that will make you think this is not an option for you…
Try to resist turning the webinar off and remain engaged because you will see later that there is more to this than your initial impression might suggest…
You and I are going to focus on why a group insurance plan is better than an individual plan you can purchase through the marketplace or directly from the insurance carriers…
You see, there are a several differences between an individual plan and a group insurance plan…
So let’s quickly check them out…
It’s very simple…
Group plans have larger networks of doctors and hospitals…
Most doctors still accept group health insurance because they get paid well by group insurance companies…
And you can still find PPO plans if you’re part of an employer group plan…
Nowadays, an “Individual” or “Private” PPO plan in most areas across the country is a thing of the past…
Most carriers that still offer private health insurance only offer HMO plans…
So these are some of the big differences between group and individual plans…
Now let’s really concentrate on what you’re about too see and the biggest difference of all…
A group plan is simply more affordable than an individual plan now…
Let me give you some history so that you can understand how and why this is true…
In the past…
If you wanted to purchase a health insurance plan, you had to fill out a health insurance application and answer a bunch of medical questions…
After submitting the application into the insurance carrier it would end up in the hands of the underwriting department…
The underwriting department would pull your medical records and line them up with the way you answered your medical questions…
How you answered the medical questions and what they saw in your medical history would determine whether or not you would be a new member of their health insurance plan…
In other words, underwriting would decide if you could join the risk pool…
If you were too risky…
Guess what…
You weren’t going to join and you weren’t going to be a member of the plan…
This happened all the time…
In our agency, almost 30% of the applications that we sent in were denied coverage because of their medical history…
Now times have changed and it’s a different process…
That same person that was denied because of the way he/she answered the medical questions and the history that came up in their medical report, can now get coverage 100% of the time…
Because now, insurance plans are what the insurance companies call guaranteed-issued…
You’re smart, so stick with me and let me tell you how this all came to be true…
Before March 23 2010, when then president Obama signed into the law the Affordable Care Act…
Which we’ll refer to as the ACA…
A group health insurance plan was more expensive to purchase…
It was more expensive because it was Guaranteed-Issued…
This meant that anyone that was eligible to jump in a group plan could do so without having to answer any medical questions…
Regardless of one’s health status…
If you had cancer, diabetes, COPD, or any other pre-existing condition…
If you were sick and needed health insurance desperately…
You could find a job that offered health insurance and you could get covered as soon as you were eligible…
Because of the guaranteed issued rule, group insurance premiums were more expensive than most plans you could purchase privately…
Well, now we are living in different times and many things have changed…
Individual insurance plans are, on average, about 30% more expensive than group plans…
And the future doesn’t look to be getting any better here soon…
When the ACA was signed into law, the individual plans that were purchased privately started to look like the group insurance plans…
From March 23rd2010 through the end of 2013, slowly, different parts of the ACA, were being implemented and enforced into society…
Like preventative care had to be covered 100%…
Children were able to stay on their parent’s plan till they were 26 years old…
But the most important and most significant change happened on January 1, 2014…
Every plan now had to be ACA compliant…
Which meant that every plan had the have the 10 essential health benefits…
We can talk about the 10 essential health benefits in another webinar but the benefit that had the most impact on health insurance premiums…
Was the one that said all pre-existing conditions had to be covered…
This meant that everyone was now Guaranteed-Issued…
Men, women, and children could now get health insurance regardless of their health status…
In 2014, millions of people who previous couldn’t get health insurance now had insurance and lives were being saved…
But, as good as this is, this caused health insurance carriers to lose millions of dollars…
So many carriers have lost so much money that not even the other products they sell could keep them afloat…
So many insurance carriers have exited the individual health insurance market like United Healthcare, Anthem, Humana, and more have exited and many more are exiting as we sit here today…
The carriers that are still around with one foot in the grave are the carriers that have increased their premiums 99% since 2013, the year before the ACA…
Family premiums have increased 140% according to eHealth…
And this year won’t be any different…
On January 1 of next year, everyone will see a huge increase in their insurance premiums…
This increase in premiums over the past few years has now made group insurance premiums more affordable…
The tables have turned, now group insurance premiums are on average 30% less expensive than individual health insurance plans…
Now I’m going to tell you how you can get a group insurance plan…
I know you guys are the smart ones because you’ve stuck with me this far…
By this time, those who aren’t looking to save money on their premiums have logged off…
But we’ll continue because you’re going to save money like the smartest people in the world…
Now here’s where my friends would say stop talking and show me what you’re saying is true…
More specifically they would say don’t talk about it be about it…
So let me show you how I went about it…
At the end of 2016 my wife and I were shopping for health insurance and like everyone else we were worried about how we would be able to afford the coverage we needed…
We knew that having health insurance was very important but we were worried that we weren’t going to be able to afford it…
Let me show you how starting a group plan with my wife’s employer at that time saved us money…
Keep in mind that prices for health insurance are determined by age, tobacco use, and area that you live in…
So the numbers I’m about to show you are based on what is particular to me and my family…
But the idea is the same for everyone across the country…
Let’s take a look at the most affordable BCBS plan for me and my family that’s available through the marketplace or otherwise known as healthcare.gov…
As of the date of this recording, the most affordable BCBS plan is an HMO plan priced at $902.38 for my wife, myself, and my two little girls…
Now let’s look at the cost of a group plan…
The most affordable group plan with BCBS is an HMO plan priced at $677.94…
That’s a difference of $224.44 a month…
That’s $2693.28 a year…
The numbers don’t lie and this is why starting a group plan with your employer is vital to saving a lot money every year…
Just to reaffirm what I’m sharing with you…
Let’s look at the most affordable PPO plan available in my area through the marketplace this year…
It’s with BCBS and the premium is $1065.96…
Now let’s look at the most affordable PPO group plan with BCBS and it’s $837.62…
That’s a difference of $228.34 a month…
That’s $2740.08 a year…
Let me now give you some proof…
Ok so now you’ve seen proof…
The last few years has shown me that this is true for everyone across the country…
Your employer is the only one who can start a group policy so we have to show him this webinar or hand him a letter that I will email to you at the end of this webinar if you give me your email address…
Now I know what your next question is…
How do I get my employer to consider this group strategy if my employer is a small business…
He wants to offer health insurance but he can’t afford it…
It’s too expensive…
Here’s the golden nugget I want to share with everyone…
There is a provision within the ACA that allows small businesses with 1-50 employees the opportunity to create a group insurance plan without the typical restrictions…
Normally, there is a percentage or amount that an employer has to pay toward the employee’s insurance premiums…
In addition, there are a certain number of employees that must enroll to meet the participation requirement…
These requirements are waived from November 15 – December 15 for plans starting January 1…
In other words, the employer does not have to pay anything toward the employee’s premiums nor does there have to be a minimum number of employees that get insurance…
So whether he wants to pay the full premium for his employee’s, or just $100, or nothing at all…
He can do whatever he wants…
So during this Special Enrollment Period (SEP) for small groups, which again is from 11/15 – 12/15, we can submit an application for group insurance and we’ll get it whether he wants to help pay or not…
We can all get a group policy…
So we need to get this video in front of your employer and ask your employer a very simple question…
Do you like to save money…
Here are 3 reasons why starting a group plan will help your employer’s bottom line…
- It will save your employer money on his/her own insurance plan as we saw earlier in my personal example…
- Your employer can write off any premiums he pays towards the plan at the end of the year…
- And finally the best one of all, your employer will save money in FICA taxes without lifting a finger…
FICA tax is the United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare and other programs…
When you pay your insurance premiums directly from your payroll check you are paying with pre-tax dollars…
Before Uncle Sam takes his cut, you get to pay your insurance premiums…
When you pay your insurance premiums with pre-tax dollars, the employee’s taxable income is lower which lowers everyone’s FICA tax…
You see…
Let me show you an example and I’ll keep it simple…
Let’s say your monthly income is $5000…
And let’s say the insurance plan you want for you and your family will cost $1000 a month…
If you pay that with pre-tax dollars from your payroll check, that’s $1000 less a month that you and your employer have to pay 7.65% FICA tax on…
That’s a $74.50 savings in FICA every month…
That’s $894 a year extra cash…
Let’s multiply that by 10 employees…
That’s a $8940 extra cash your employer will have for that year…
You can see now how starting a group plan will help your employer’s bottom line…
Your employer will offer you a benefit that you can appreciate plus it helps you and your employer save money…
So let’s recap…
- Save money on your health insurance premium
- Pay less FICA tax
- More disposable income
- Larger network of doctors and hospitals
- More plan options
- Group market much more stable
- During SEP regular requirements are waived
- Employer can write off the premiums
- Employee benefits they appreciate which increases employee retention
- Attract top quality personnel
- Improves morale
- SMART!!!
So here is the assignment I have for you after this webinar is over…
If you want to save a lot of money…
You have to share this video with your employer and everyone else you know…
Tell your employer you want to save money on your health insurance premiums like the smartest people in world, but you need their help…
We have a very short window of time to make this happen…
Our window of opportunity is only from November 15-December 15 every year…
December 15this a hard deadline…
We cannot take it slow…
By mid-October we should have a group census ready to go…
Every application has to be in and processed by December 15th…
Every employer who knows about this special enrollment period for small groups will be scrambling to get their applications in on time…
We need to start game planning and attacking now…
Let’s get the ball rolling so that we’re not the ones left out…
If you see the link below, send me your email and I’ll send you a group census form that we’ll need to get started…
Share this video with your employer, your friends, and your family…
Have them call us at 800-808-0209 or email us at support@expert-insurance-team-33f35b.ingress-florina.ewp.live…
We have a group of expert insurance agents licensed in 48 different states and we speak 9 different languages…
Wherever they are we will hold their hand and guide them through the process…
There’s nothing like having and expert that does this day in and day out on your side…
Thanks for giving me your time today and I hope you understood that starting a group insurance policy is the most obvious choice to saving money on your health insurance premiums…
Like, Share, Post, whatever…
Get this video out there…
We look forward to speaking with you soon…
Expert Insurance Team
