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Introduction to ZanePRA: Training for Insurance Agents and CPAs
 

Introduction to ZanePRA: Training for Insurance Agents and CPAs

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Learn How to Provide Immediate Tax Savings on Individual Health Insurance Premiums to via ZanePRA: http://www.zanebenefits.com/ ...

Learn How to Provide Immediate Tax Savings on Individual Health Insurance Premiums to via ZanePRA: http://www.zanebenefits.com/

ZanePRA works best for companies that do not want to offer health insurance.

With ZanePRA, employers allow employees to reimburse themselves for individual health insurance costs using pre-tax salary.

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    Introduction to ZanePRA: Training for Insurance Agents and CPAs Introduction to ZanePRA: Training for Insurance Agents and CPAs Presentation Transcript

    • ZanePRA Training for ZaneAffiliates
    • Who Partners with Zane Benefits? Existing partners include: ● Insurance Professionals ● PEO and HR Outsourcing ● CPAs & Accountants ● Chambers of Commerce ● General Agencies ● Franchises and Associations ● Insurance Companies ● Website Affiliates ● Payroll Providers ● Other LEARN MORE: ZaneBenefits.com/Partners FREE DEMO: ZaneBenefits.com/Request-a-Demo Let’s Connect! Subscribe to Clarifying Health: www.zanebenefits.com/blogDISCLAIMERThe information provided herein by Zane Benefits is general in nature and should not be relied on for commercial decisionswithout conducting independent review and analysis and discussing alternatives with legal, accounting, and insuranceadvisors. Furthermore, health insurance regulations differ in each state; information provided does not apply to any specificU.S. state except where noted. See a licensed agent for detailed information on your state. www.ZaneBenefits.com
    • Zane Benefits Awareness ● Founded in 2006 ● Clients in all 50 States ● Distributed nationally by top Insurance Companies, Brokers and Payroll Cos since 2009 Even if Berneche carries out his plan to nearly double the UnitedHealth is encouraging 100s size of his company, he still of its independent agents to take expects to save at least an online course offered by Zane $360,000 this year with the Benefits to learn how to market new [Zane Benefits] program individual plans at companies Zane Benefits works with Zane Benefits Founder Paul Zane Pilzer companies to help them give writes that employer sponsored group employees a tax-free health insurance will be “mostly allowance to purchase eliminated” in the next 20 years. individual policies Zane Benefits Paul Zane Forbes.com on "Getting Better Health Pilzer speaks on HRAs, Insurance" featuring Zane Benefits Individual Health Policies, Founder Paul Zane Pilzer and Defined Contribution Health Benefits
    • Small Business Health Insurance - Today Less than 50% of small businesses offer group health: ● Cost is too high - 61% ● Firm is too small - 13% ● Turnover is too great - 6% ● Other - 20% 3,000,000 small businesses without group health
    • Quick ZanePRA Overview
    • What is ZanePRA? ZanePRA... • Is Zanes Section 125 product for pre-tax individual health insurance reimbursement • Allows employers to offer health benefits at zero net cost • Increases individual health conversions and retention rates
    • What is a PRA?● PRAs allow employers (ERs) and employees (EEs) to pre- tax individual health insurance premiums● It’s like a 401k for individual health insurance● Saves ERs 7.65% in payroll taxes● Saves EEs 20-40% in INCREASES INDIVIDUAL HEALTH federal/states taxes SALES & RETENTION
    • How Employee Benefits PRAs help employees... ● Save 20-40% by paying health insurance premium with pre-tax rather than after-tax dollars ● Choose the individual health insurance plan best for them ● Cover the cost of supplemental coverage like dental or vision insurance with pre-tax dollars
    • How Employer Benefits PRAs help employers... ● Reduce the amount of the company’s FICA tax ● Recruit new employees with a health benefit offering ● Increase employee retention by providing tax-savings for increased employee compensation
    • Zane Benefits PRA Overview - SimpleThe Employer...1. Creates plan2. Sets eligibility3. Picks start date4. Enrolls employees HUGE The Employees.... Opportunity5. Sends welcome kits 1. Purchase individual policies6. Pre-taxes premium on payroll 2. Submit "claims" to get pre-taxed
    • How Broker Benefits HUGE Opportunity 1. Purchase individual policies● Relationship with employer and employees ○ Two Sales - 1) Employer and 2) Employee● Employer = lead generator ○ Average annual turnover = 50% for small businesses● New role - help employees choose vs sell ○ Like investment advisor helps employee choose best 401(k) investments
    • PRA Example: 4 EE Company 1) Employer creates PRA plan 2) Tax savings are based on individual premiums ER w/o Insurance ER Creates Win, Win, Win4 EEs with individual plans PRA Plan Savings based on individual premiumsEmployee Monthly Estimated Monthly Monthly Name Premium Tax Rate EE Savings ER Savings John 300 20% $60 $22.95 ER Annual Savings: Susan 200 25% $50 $15.30 $1,010 Steve 500 30% $150 $38.25 EE Annual Savings: $3,540 Mary 100 35% $35 $7.65
    • Overview of PRA Pre-tax Process BillCarrier Employee Pay Bill and RequestEmployee Pre-Tax Validate PresentZane Benefits Pre-Tax Request Amounts to Employer ApproveEmployer Pre-Tax Add Pre-tax via PayrollPayroll Supplier
    • PRA Example: John Saves $1,080/yr John pays 30% of his salary in taxes and has a $300/mo policy Monthly Take Home Pay Monthly Take Home Pay Without PRA with PRASalary.......................................... $4,000 Salary.......................................... $4,000 Pre-tax PRA deduction………..……….. -$300Taxable Salary........................... $4,000 Taxable Salary ......................... $3,700Taxes (30%)............................... -$1,200 Taxes (30%)............................... -$1,110 Tax-free PRA addition…….............. +$300Net take home pay.................... $2,800 Net take home pay................... $2,890 Net Savings: $1,080/year
    • ZanePRA Administration
    • Why We Need PRA Administration Employers / Employees Brokers / CPAs 1. Tax Savings 1. Sales Assistance ● 100% tax-free individual ● Need Partner for PRA health insurance Expertise 2. Compliance 2. Implementation & Support ● IRS/ERISA/HIPAA ● Need Partner for PRA Implementation & Support 3. Ease of Use ● Pre-taxing occurs via 3. Insurance Integration payroll in 3-5 minutes per ● Technology integration month increases quote opportunities
    • Paperless Setup The setup process is 100% paperless and takes less than 15 minutes to complete. 1. Signup Form 2. PRA Design 3. Online EnrollmentClient completes the 2-page Zane Benefits walks the client The software automatically signup form online. through the PRA plan design generates required documents, wizard via webinar. and employees "electronically sign" all of their documents with one click of a mouse.
    • Online Claims Submission● Fast Processing: Once submitted, claims are processed within 2 business days (typically in 1-2 hours).● HIPAA-Privacy: All claims are kept HIPAA-protected and stored with receipts for employee convenience.● Real-time Notifications: Employees receive email notifications at every step of the claims process.
    • Payroll Integration ● Clients use existing payroll to pre-tax premiums ● Administration only takes a few minutes per month ● No separate checks and no pre-funding of third party bank accounts
    • Simple Referral Process
    • Employer Referral and Sales ProcessRegister Leads at www.zanebenefits.com/refer Introductory Call ● We will assist you with every step of the sales process ● Use us extensively for first 3 sales Demo Plan Proposal Setup
    • Who Partners with Zane Benefits? Existing partners include: ● Insurance Professionals ● PEO and HR Outsourcing ● CPAs & Accountants ● Chambers of Commerce ● General Agencies ● Franchises and Associations ● Insurance Companies ● Website Affiliates ● Payroll Providers ● Other LEARN MORE: ZaneBenefits.com/Partners FREE DEMO: ZaneBenefits.com/Request-a-Demo Let’s Connect! Subscribe to Clarifying Health: www.zanebenefits.com/blogDISCLAIMERThe information provided herein by Zane Benefits is general in nature and should not be relied on for commercial decisionswithout conducting independent review and analysis and discussing alternatives with legal, accounting, and insuranceadvisors. Furthermore, health insurance regulations differ in each state; information provided does not apply to any specificU.S. state except where noted. See a licensed agent for detailed information on your state. www.ZaneBenefits.com