Many of us have experienced shock and disbelief in recent weeks. You may be asking "Does health care reform mean the end of limited medical?" The answer is that we just don't know. While the future of limited medical may be uncertain, sitting on the sidelines and waiting for the dust to settle is a mistake - the limited medical industry is thriving today and it is a product that should definitely be in your pocket when you are meeting with clients.
It appears that limited medical plans will be available for coverage until 2014, but answers are still to come regarding grandfathering and limits on benefits. There are two national elections between now and 2014 - and two solid renewal seasons - so rather than succumbing to fear, uncertainty and doubt, seize the opportunity to help your customers with limited medical solutions. Groups are still looking for solutions and coverage for their employees' day-to-day health care needs.
Some employers may be sitting on the sidelines and reluctant to initiate or switch plans in the face of health care reform, but the reality is that limited medical plans can provide valued benefits for individuals today. Look for limited medical plans that offer great service and administration, online tools for enrollment missed premium, and rate guarantees until Dec. 31, 2013. Carriers are still writing new business for groups of all sizes. Putting employees in a robust, well-administered limited medical plan will enable HR staff to focus on the bigger picture of the future of health care delivery inside their organization.
The coming selling season is important. As your groups begin evaluating what the future of health care will look like, encourage them to put a rate stable limited medical plan in place and let it run for the next three years. With today's technologically advanced enrollment and administrative capabilities, it's never been easier to get a group up and running on a limited benefit solution.
Interested in learning more? Join Brian Robertson and several of the nation's top limited medical brokers at Benefits Selling Expo. The panelists will share their experiences, best practices and opinions with regards to what works - and what doesn't - with limited medical. These panelists, who offer a variety of products from assorted carriers, will share their insight on market opportunity for brokers to recommend limited medical, as well as predict where the future may lie for the limited medical industry.
