Finding and Qualifying Prospects for ZaneHRA: Advanced Training

4,125 views

Published on

Learn how to find businesses that need ZaneHRA: http://offers.zanebenefits.com/successfully-sell-defined-contribution-health-plans

With ZaneHRA, employers offer a defined contribution health plan in which they make available monthly contributions ("allowances") that employees choose how to spend.

Employees can use their monthly "ZaneHRA Allowance" to reimburse their individual health insurance costs and eligible medical expenses 100% tax free.

Published in: Economy & Finance, Business
  • Be the first to comment

Finding and Qualifying Prospects for ZaneHRA: Advanced Training

  1. 1. Finding and Qualifying Prospectsfor ZaneHRA
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. Quick Review of ZaneHRA
  6. 6. What is ZaneHRA? ZaneHRA... • Is Zanes stand-alone HRA ("Defined Contribution") product for medical insurance and expense reimbursement • Allows employers to offer tax-free health benefits without a group health insurance plan • Increases client conversion and retention rates
  7. 7. Zane Benefits Defined Contribution Overview - SimpleThe Employer... "Offer Health Benefits on your OWN terms"1. Determines contributions2. Sets eligibility3. Picks start date4. Enrolls employees HUGE The Employees.... Opportunity5. Sends welcome kits 1. Purchase individual policies6. Reimburses employees for "claims" 2. Submit "claims" for reimbursement
  8. 8. 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
  9. 9. Companies That Setup ZaneHRA Include I only want to offer health benefits to I want to deduct my managers individual health insurance expenses I have employees in multiple states I cant afford group health insurance My company is too small to offer group health insurance I need to hire an important new employee I just received a huge rate We cant meet increase on my group participation health plan requirements
  10. 10. ZaneHRA vs Group Health InsuranceZaneHRA Group Health Insurance No Minimum Contributions Requires Minimum Contribution Business determines its own Employers must contribute 50-75% of contribution strategy premium No Minimum Participation Requires Minimum Participation Business sets its own eligibility 50-75% of employees must participate in requirements the plan No Administrative Hassle Requires Additional Admin Spend less than 5 minutes per Requires paperwork and annual renewals month
  11. 11. How Zane Benefits Works with Brokers
  12. 12. The Ideal Zane-Broker Relationship Zane Responsibilities Broker Responsibilities 1. ZaneHRA Expert During 1. Insurance Expert During Employer Sales Process Employer Sales Process 2. Handles Implementation 2. Handles Implementation of of ZaneHRA Individual Plans 3. Provides On-Going 3. Provides On-Going Support for ZaneHRA Support for Individual Plans
  13. 13. Integrating Your Insurance Services There are two BIG opportunities for brokers: 1. The Initial Sales 2. Future Hires (Remember, 50% Average Annual Turnover)● Welcome Packet Customization● Advertisements Increased Quote● Quote Engine Integration Opportunities
  14. 14. 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
  15. 15. How to Find ZaneHRA Prospects
  16. 16. Keep it Simple...The best way to find ZaneHRA prospects is to find people with problems that ZaneHRA can solve...
  17. 17. Companies with Problems ZaneHRA Can Solve I only want to offer health benefits to I want to deduct my managers individual health insurance expenses I have employees in multiple states I cant afford group health insurance My company is too small to offer group health insurance I need to hire an important new employee I just received a huge rate We cant meet increase on my group participation health plan requirements
  18. 18. Ideal Prospect Characteristics● Businesses that do not offer health benefits (or are canceling benefits)● Businesses with less than 50 employees● Professional Offices, e.g. ● Dentist ● Doctor ● Chiropractor ● Veterinarian● Franchisees with Managers, e.g. ● Subway Franchises with multiple locations ● Domino’s Pizza Franchises with multiple locations
  19. 19. Employer Case Study #1A metal fabrication facility offers group health benefits. The recentrate renewal has forced additional employees to drop off the plan, andthe company no longer meets the carriers minimum participationrequirement.What’s the problem?The business cannot meet the minimum participation requirements on agroup health insurance plan.What’s the pitch?“ZaneHRA will allow the company to maintain a health benefits plan and100% of the tax advantages associated with it.”How does ZaneHRA solve the problem?With ZaneHRA, there are no minimum participation requirements!
  20. 20. Employer Case Study #2A software start-up employs 6 full-time employees. They cannotafford the cost of a group health plan, but would like to offersomething for health benefits.What’s the problem?The business cannot afford the minimum contribution requirement on a grouphealth plan.What’s the pitch?“With ZaneHRA, the business determines its own contribution amounts thatemployees can use to reimburse their individual health premiums tax-free,allowing you to recruit and retain the best employees.”How does ZaneHRA solve the problem?With ZaneHRA, there are no minimum contribution requirements!
  21. 21. Employer Case Study #3A company has recently expanded its business into new states and isunable to obtain a group health plan due to carrier restrictions.What’s the problem?The business cannot find a group health plan that works in multiple states.What’s the pitch?“ZaneHRA will allow you to offer health benefits without a group health plan.”How does ZaneHRA solve the problem?With ZaneHRA, employees choose an individual policy in their state that fitstheir exact needs and can use ZaneHRA to reimburse the costs tax-free.
  22. 22. How to Find ProspectsThere are four primary ways to find ZaneHRA prospects:1. Contact Existing Individual Health Clients (Start Here)2. Introduce ZaneHRA to Prospective Individual Health Clients3. Market to Small Businesses4. Create Referral Relationships
  23. 23. Individual Health Clients1. Contact individual health clients.2. Work ZaneHRA into existing individual health sales process. Would they be interested in having their employer reimburse their individual health insurance costs tax-free? If so, ask them to refer you to their employer.
  24. 24. Marketing to Small BusinessesCall/email local businesses that fit the ideal ZaneHRA Prospect Characteristics.Do they currently offer health benefits?If not, use questioning strategies to determine if the business is a ZaneHRA prospect.
  25. 25. Questioning Strategies for BusinessesQuestions to ask businesses to determine if they are a ZaneHRA Prospect:● Does <company name> offer health benefits?● How many employees does the <company name> have?● Do you or other employees have individual health plans?● Why doesnt <company name> offer health benefits?If the company is a ZaneHRA Prospect, ASK for a qualification call: I think we can help you. The next step is to schedule a quick qualification call to confirm that we can help. I would invite an expert to join the call. Is there someone in your office you would like to attend?
  26. 26. Common Objections1. We can’t afford health benefits. This is a new federal program. With this solution, there are no minimum employer contribution requirements.2. We do not offer health insurance. That’s great. We should be able to help you save money on taxes on your employees’ individual health insurance.3. This sounds like it will take a lot of time. I hear that a lot. The solution takes less than 5 minutes per month to administer (there is zero paperwork).4. I already pay directly for my employees’ individual health premiums. Have you set up plan documents to make it tax-free?
  27. 27. Common Questions1. How does it work? I help each employee purchase an individual health insurance plan. Then, we establish ZaneHRA to reimburse employees tax- free via your existing payroll service.2. How much does it cost? That is entirely up to you - you determine the cost. There is a small monthly administration fee that is typically financed 100% by tax savings.3. What size firms do you work with? All sizes. There are no minimum or maximum employee participation requirements.
  28. 28. Creating Referral RelationshipsIf you know people who work with businesses thatdon’t offer health benefits, they can refer youZaneHRA prospects.Here are 4 referral relationships to create: 1. Group Health Insurance Agents 2. CPAs/Accountants 3. Payroll Sales Reps 4. Chambers/Associations
  29. 29. Group Health Insurance AgentsContact local group brokers who do not sellindividual health insurance.Do they come acrossbusinesses that do not offerhealth benefits?If so, you can work out amutually beneficialrelationship.
  30. 30. CPAs/AccountantsContact local CPAs and Accountants, and introducethem to ZaneHRA, a new way for them to save theirclients money on taxes. Does the accountant have business clients that do not offer health benefits? If so, you can help them add value to their accounting services.
  31. 31. Payroll Sales RepsContact local payroll sales reps (e.g. ADP, AccuPay,etc.) in your area.Does the rep work with smallbusinesses?If so, you can help them sell morepayroll with ZaneHRA as an add-on benefit.
  32. 32. Chambers/AssociationsContact the local and state trade associations (e.g.Chambers of Commerce, Indiana RestaurantAssociation, etc.).What is the number one concernof their small businessmembers?If it’s affordable health insurance,offer to provide a free webinar orpresentation to their smallbusiness members on ZaneHRA.
  33. 33. How to Qualify ZaneHRA ProspectsA business may be a ZaneHRA prospect, but they may not be “qualified” for ZaneHRA today.Generally, qualified ZaneHRA prospects have the following characteristics:● They do not currently offer health benefits.● They want to offer health benefits, but don’t due to cost, participation or some other reason that prohibits them from offering group health insurance (i.e. they have a “PAIN” that ZaneHRA can solve).● They have 1 or more W-2 employees.● They can provide an expected start date for the ZaneHRA plan.● They can agree to a decision date on whether to offer a ZaneHRA plan.
  34. 34. 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

×