Quarterly Newsletter

Selling the InPocket Plan

Who can purchase the InPocket Plan, and why is this product so valuable?

Well, the InPocket Plan is available to BAI+ members of Benefits Association, Inc. It is a group product that is billed individually to people who are enrolled in a comprehensive major medical plan (ACA – On/Off Exchange Plans). The InPocket Plan is amazing because it helps customers reduce the ever growing Out of Pocket. Most people can’t afford a Gold Plan but would prefer to have Gold or Platinum coverage. BAI+ members purchasing an InPocket Plan have the most cost-effective way of achieving this level of coverage.

Who would be the perfect prospect for this product?

The InPocket Plan is perfect for anyone who doesn't qualify for the extra cost sharing reduction on an ACA plan. With most people not having more than $1000 in savings for medical expenses and the out of pocket on most ACA plans or Comprehensive Major Medicals being $9000 or more, you are able to help people access necessary medical care without financial delay. Adding the InPocket Plan as a secondary plan is ultimately preventing potential health issues and more significant expenses down the road.

Out of all 6 plans, which one do you recommend the most? And why?

We see all the plans being talked about and sold. Each agent we talk with has their own theory. Some like the fact that they can tell a client that they have a $1000 deductible up front while other say let's go with the $2000 deductible with a $6000 benefit and protect against the large claims they may incur at a very reasonable premium. The nice thing about the IPP is the different options at different price points for the clients.

How are your downline agents promoting this product?

The agents are mailing their clients ahead of Open Enrollment and letting them know there are better options available this year due to the InPocket Plan.

As an MGA for the IPP, we have been doing email blasts weekly and doing many webinars for agents and their teams. We have done pre-recorded webinars and emailing this out to agents to not only get them trained, but so that they have something they can reference back to as they go through OE. As OE approaches, we have been reaching back out to the agents that got appointed months ago and making sure that they are fully trained and ready for OE.