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How the COBRA Subsidy Can Boost Individual Sales

In a recent post, we provided details about the new COBRA and State Continuation subsidy under the American Rescue Plan Act. If you missed it, the subsidy pays 100% of the COBRA or state mini-COBRA premium between April 1 and September 30 for COBRA/mini-COBRA eligible employees and covered family members who’ve lost their group coverage due to a reduction in work hours or an involuntary loss of employment. Click here to read the article.
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Quick Overview of the ARPA COBRA Subsidy

If you have group health clients, you’re probably receiving calls from them asking about the new COBRA subsidy created by the American Rescue Plan Act. President Biden’s $1.9 trillion COVID relief bill provides a 100% subsidy for up to six months of the COBRA or state continuation premiums for eligible employees, former employees, and their covered family members. While that’s certainly a good thing for those who qualify, it’s creating headaches for employers and plan administrators. In this post, we’ll try to get you started and help answer some of the most important questions about the subsidy. There’s still some confusion about how this will work, so we won’t be getting too “in the weeds.”
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The No Surprises Act

Everybody likes surprises, right? Wrong! Obviously, there are a lot of good surprises in life, but when the surprise involves bad news, it’s not nearly as fun. Take a surprise medical bill, for instance. When a health plan member does everything he or she can to follow the rules, like visiting in-network facilities and getting any required pre-authorizations before a procedure, it’s easy to see why the member would be unhappy when a “surprise bill” shows up in the mail.
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SEP Extended to August 15

As you probably know, President Biden signed an executive order shortly after being sworn into office creating a three-month special enrollment period in the individual market due to the COVID health emergency so that people who do not have health insurance would have the opportunity to sign up. The SEP began February 15 and was scheduled to end May 15.
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Why You Should Be Selling Life Insurance to Millennials

Even when nothing’s biting, fishing can be a fun and relaxing activity. We get a chance to be outdoors, and if we go with someone else, the time spent together can be enjoyable. Still, “catching…a bunch of fish,” as Outdoors Weekly points out, “is the main reason that we go fishing.” And to accomplish this goal, we need to find hungry fish. Here’s some advice the magazine provides in a recent article: To consistently catch fish, we first need to find them. However, at times just finding the fish isn’t enough. You’ve got to find the fish that are willing to eat your bait.
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Don’t Be Afraid to Sell HMOs

As advisors, our job is to evaluate our client’s situation and make customized recommendations about health insurance and other types of coverage. Unfortunately, some agents are guilty of telling clients what they want to hear rather than what they need to hear; instead of recommending cost-saving solutions that are outside the client’s comfort zone, some advisors adopt a “don’t rock the boat” strategy, narrowing their plan recommendations to those that satisfy their client’s wants but not necessarily their needs.
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