{"id":9923,"date":"2020-09-30T12:19:37","date_gmt":"2020-09-30T16:19:37","guid":{"rendered":"https:\/\/roundstoneinsurance.com\/?p=9923"},"modified":"2023-06-20T11:29:49","modified_gmt":"2023-06-20T15:29:49","slug":"6-things-benefits-advisors-should-know","status":"publish","type":"post","link":"https:\/\/roundstoneinsurance.com\/excelsior\/blog\/6-things-benefits-advisors-should-know\/","title":{"rendered":"6 Things Benefits Advisors Should Know"},"content":{"rendered":"\r\n

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It\u2019s a challenging time to be a benefits advisor right now, but you are rising to the challenge. With renewal season upon us, many advisors like you are bracing themselves for a calendar full of difficult meetings. How many of your clients\u2019 health insurance renewals will come with a double-digit increase<\/a><\/span>? We understand that\u2019s not a fun client conversation to prepare for.<\/p>\r\n

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You\u2019ve got options! As the renewal merry-go-round revolves again this year, you have the opportunity to change up your routine. Exit the annual merry-go-round with a self-funded solution. Your clients will save an average of 19% annually when compared to a fully insured plan, and at the end of the year, you could be delivering distribution checks back to your clients<\/a><\/span> (instead of double-digit rate increases).<\/p>\r\n

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Our Regional Practice Leaders have seen and heard the need for a change from employers and advisors both. We want you to grow, diversify, and protect your book of business, too! With that in mind, we\u2019ve rounded up some of the market\u2019s best advice for you as you gear up for renewal season<\/p>\r\n

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1<\/strong>. Don’t assume your client is happy and wouldn’t understand or be willing to learn about self-funding.<\/strong><\/h2>\r\n

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It\u2019s easy to assume that your clients are happier not knowing about the benefits of self-funding because of the ease and convenience of a fully insured plan. But COVID-19 has turned many markets and businesses upside down- your clients are looking for ways to save money and protect their cashflow!<\/a><\/span><\/p>\r\n

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2<\/strong>. Dispel the myths of self-funding.<\/strong><\/h2>\r\n

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As your clients\u2019 benefits advisor, you can deliver a big win when you help dispel the myths around self-funding. At your next check-in, ask their thoughts on the drawbacks of making the switch. A self-funded plan like Roundstone\u2019s has made advancements- you might be surprised to find that:<\/p>\r\n

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