Large group quoting presents its own unique set of challenges. There’s significantly more data to gather and organize in order to ensure the most accurate quote for large businesses. You need to gather as much accurate information as possible from the company so that you can present them with plans that are best suited to their employee needs. There are several things that you can do to streamline the process and confidently gain more large groups.
It’s important to factor in what the employer will be contributing to the benefits so that you can get an accurate breakdown for employee contribution. You will need to work closely with the HR department to determine just how much the company plans to contribute. If they don’t have a solid number in mind, you may need to walk them through some calculations to set the percentage or dollar amount that fits the company’s budget.
The employee census for a company gives you a good overview of employee demographics. Typically, it gathers broad information such as employee names, sex, date of birth, residence zip code, and their coverage code. The coverage code determines the type of coverage they may require, such as:
You can require the company to provide information on all employees – those currently on benefits as well as those who are not.
Screeners gather even more detailed data on each employee so that you can provide a more accurate quote. It requests specific information about employee needs beyond general demographics. This way you can get a good overall picture of the staff and what they may need in terms of benefits and coverage.
Health questionnaires gather data on individual employee needs regarding coverage and health including medical conditions and risks. It allows you to understand plan specific aspects from employee feedback including how easy they can find a provider who participates in their health plan, how satisfied they are with the providers on their plan, and satisfaction with their current plan’s claims process. Employees can also weigh in on their satisfaction with rates, copays and other aspects of their current plan. This allows you to find a plan that best fits the company. This should also cover health histories for each employee.
The company’s carrier history is very important in determining what works for their employees – and what doesn’t work. Get a list of all the names of carriers for the previous three years as well as coverage periods. Claims experience for the past three years should also be included, along with prescription claims, medical claims, and high-cost case details. Other information to gather may include:
Quite often there are different segments within an employee population. Some common employee segments include:
If any of the employees are members of a union, you will want to include union agreement language as well. Provisions for leave of absence and other special circumstances should also be addressed.
Employee benefits are important and gathering the appropriate information will allow you to better serve your client, the company, and make for smoother transitions as well as easier open enrollment.
Work with Rogers Benefit Group on your large group cases and gain access to large group experts and vital information that will make you more effective and valuable to your clients no matter company size. Call to learn more and download our checklist: 3 Simple Strategies to Win Large Group Business.