UnitedHealthcare: Stop by for your AEP materials

Contact Sales@LeClairGroup.com with your questions or to request an appointment.

AEP is here, and so are the materials available to UnitedHealthcare agents.

If you are appointed with UnitedHealthcare, please stop by the main office for your 2021 AEP materials on October 2 between 11am and 1pm. You may pull into the roundabout in front of the building and employees will load the materials into your car.

Below is the address if needed:

12700 Whitewater Drive

Minnesota, MN 55343

Offer clients Short Term Medical options with UnitedHealthOne

Contact Sales@LeClairGroup.com with your questions or to request an appointment.

Are you looking for a Short Term Medical option to offer clients? UnitedHealthOne is not only the sole STM option in Minnesota, but it also offers a range of plans for UnitedHealthcare’s national network. As one of the leading STM carriers, UnitedHealthOne has a variety of plan options for you to offer clients.

To learn more about Short Term Medical, click here to register for our upcoming webinar on October 14.

Click to view their Teladoc brochure and Short Term Medical brochure.

UnitedHealthOne’s fall incentive program may be viewed here.


Social determinants of health and the role of advisors

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How utilizing health benefits reduces cost

Issues with healthcare arise when clients have no coverage. But what about the members who have a plan, but do not use their benefits– especially preventive services?

Surprisingly, many people who have health insurance deliberately avoid using it. The reasoning varies, ranging from fear of out-of-pocket costs and mistrust in the medical system to the recent fears surrounding COVID-19. Other factors come down to other social determinants of health such as transportation, food, economic insecurities, a lack of health literacy, and more.

Many are simply overwhelmed and confused how to navigate the complex landscape of healthcare, so they choose not to utilize it. Many conditions are being left untreated, which can lead to worsened conditions that may result in late detection, delayed treatment, much higher costs, and even avoidable deaths. The longer a condition is left untreated, the higher the likely cost of care.

Every member who avoids healthcare–even when who suspect it to be necessary–is classified as being “care-avoidant.” Among those who choose to be care-avoidant, those who experience behavioral health issues (anxiety, depression, substance abuse, etc.) are at the highest risk of experiencing declining health as a result of forgoing care.

This behavior is not only harmful to the individual, but also to the healthcare industry as a whole. Populations with behavioral health conditions and medical comorbidities can inflate healthcare costs by up to 6.2 times,with little to none of those dollars spent on behavioral care. This can result in as much as $68B in avoidable annual costs, a figure that is growing by upwards of 7% annually by some estimates. Additionally, according to a 2018 study, more than half of Americans do not understand how to navigate the current healthcare landscape because it is so complex, creating an estimated $4.8 billion annual administrative cost burden for payers.

Since the beginning of the COVID-19 pandemic, this issue has only risen. Over the last several months, many have chosen to avoid visiting their healthcare providers for fear of contracting the virus in a public setting, which has created more of an issue for the healthcare system.

It’s important for agents to connect with clients to ensure they are utilizing their benefits completely and, if necessary, to remind them why it’s important for them to do so. Encourage those who exhibit a reluctance to seek care by being persistent and reminding them that it is in their best interest to do so. By encouraging clients to seek care, you will in turn save them from hundreds, if not thousands of dollars in medical bills, the stress and pain of prolonged illness or injury, all while doing your part to stimulate the healthcare industry.

Click here to access more resources from Ontrak.

Principal: 5 ways your clients can build a better retirement program

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Recently several Principal® retirement plan customers were recognized as finalists and one named winner of the 2020 Plan Sponsor of the Year by PLANSPONSOR.

By taking a closer look at these four organizations on this prestigious list, we see some common themes that contributed to their success. For most, it means working with a financial professional or third-party administrator and taking a role in helping employees live their best life in retirement.

Consider using organizations like these as inspiration for your clients to take a closer look at their retirement plans. These five insights and action items may help start the conversation.

  1. Stay engaged – Those recognized devote a considerable amount of time to discussing their plan and how to make improvements. For most it starts at the top with an actively involved CEO, which typically trickles down to everyone else.

    Action item: If they aren’t already, suggest your clients schedule regular bi-weekly or weekly meetings to stay on top of plan changes and metrics. Introduce the idea of inviting the CEO or other senior management periodically.

  2. Consistent, customized communication – In order to really move the needle on savings, employees need a steady stream of information. Because a participant nearing retirement has different concerns than a younger employee, targeting communications based on life stage can also make a big difference. Communications must also evolve as needs change.

    Action item: Review how your clients are communicating during COVID-19. Remind leaders that employees may need to hear from them even more often with some extra reassurance.

  3. Make it automatic – Most on the list have used automated plan features in some way to help drive employee participation. Each plan looks a little different, but several finalist plans include:
    • Automatic enrollment—with a default deferral typically 6% or higher
    • Automatic annual increase—typically 1% up to 12% or more
    • Matching employer contribution that’s beyond the typical 3%
    • Automatic reenrollment sweep

    Action item: Conduct a plan review with a specific focus on automated features. Show how participation and savings can increase by making changes.

  4. Keep it simple – Leaders of these organizations find ways to save time using tools, resources, and relying on others. For some that comes in the form of an all-in-one retirement solution including several plan types with the same service provider.

    Action item: Find out if your clients have other retirement programs that could benefit from consolidating services under one provider. Remind clients how this can save time and possibly money with simplified administration.

  5. Change your view – Although the cost and time spent to offer a best-in-class retirement program can seem overwhelming, the organizations highlighted think about it differently. While they genuinely want their employees to enjoy a comfortable retirement, leaders consider the retirement program a way to stand out as an employer of choice to help recruit top talent, too.

    Action item: As you meet with your clients, talk about the benefits of using a best-in-class retirement program as a recruiting tool for top talent in their area.

This article originally appeared at advisors.principal.com

Mutual of Omaha: Critical Illness Policy PDFs Now Being Emailed

Contact Sales@LeClairGroup.com with your questions or to request an appointment.

Mutual of Omaha is now sending emails containing links to PDF copies of all critical illness policies. The email will be sent within 24 hours of policy issue and will be sent directly to the client, the writing agent, the top level marketer and any authorized user designated by the writing agent or the top-level marketer with full access to Sales Professional Access.

This email process will be in addition to the current paper policy output. The email will contain a link to our Secure Message Portal system allowing access to view the PDF of the policy. Note: This process does not include e-signatures. However, delivery requirements and delivery receipts can be printed and wet signed or electronically signed using one of our approved vendors.

Delivery requirements for critical illness can either be mailed in to Mutual of Omaha with the envelope provided in the paper policy or sent via email to healthrequirements@mutualofomaha.com (recommended).

If you have any questions, please contact your sales director.

This article originally appeared at blogs.mutualofomaha.com

Mutual of Omaha: Paying for Out-of-Pocket Costs

Contact Sales@LeClairGroup.com with your questions or to request an appointment.

We all know someone who has received a cancer diagnosis, and in today’s world, a diagnosis doesn’t mean all hope is lost. With a Cancer Insurance policy from Mutual of Omaha, you can help your clients focus on their recovery by offering them a lump-sum payment that can be used for any out-of-pocket expense including:

  • Replacing lost income
  • High deductibles
  • Everyday expenses like bill and groceries

Use the flyer to show your clients how Cancer Insurance can help fill their coverage gaps.

*Not all benefits are approved in all states.

This article originally appeared at blogs.mutualofomaha.com

Lloyds of London: Life Solutions – Niche Product Opportunities

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Since the days of Life Insurance Awareness Month are waning, we would like to take the opportunity to share some niche products found in the specialty markets that may provide you with opportunities to find solutions to your cases that have been languishing or seem dead on arrival.

Since the onset of the COVID-19 pandemic, there has been a great influx of cases coming onto the market where traditional life products aren’t an available fit.  Older age clients and prospects with impaired health histories or hazardous risk backgrounds are finding little to any help from many U.S. carriers.  Coverage postponements have become more common at this time, and the need for outside-the-box, shorter-term solutions is quite evident.

One such accommodation is a simple financial protection vehicle that is often scoffed at by life insurance purveyors, but can sometimes be the best solution for hard-to-place cases.  I’m talking about standalone accidental death insurance.  Of course the product doesn’t provide comprehensive protection and shouldn’t be prescribed in lieu of traditional term or whole life insurances, but when client demographics don’t fit a traditional mold or when supplemental short term coverage is necessary, accidental death is an affordable alternative that often saves the day.

AD policies are simplified-issue and can be underwritten and approved in a few days, providing much needed death benefits to clients with health problems or clients living abroad or clients with hazardous avocations like auto racing or private piloting.  The reasons to look to a high-limit accidental death policy are numerous, and we are constantly seeing this flexible product being the agent’s perfect tool at the right time.

Another niche solution for the life market that has taken the industry by storm is failure to survive insurance also known as contract protection insurance.  The basic product is similar in format to term insurance for third-party applications.  Its main purpose is to address key person, buy/sell, contract guarantee and business loan situations where there is a financial obligation to indemnify a business contract upon the death of an individual (usually the business owner or a key employee) with insurance.  It cannot be used as an alternative to personal-benefit life insurance, but is commonly employed to cover divorce decrees and alimony/child support court orders.

Medically sub-standard cases find easy solutions amongst the product line as the underwriting guidelines are more flexible than those of traditional life carriers, allowing for medical exclusions and coverage for persons with infirmities like cardiac, body mass and diabetes issues.  It’s also optimal for prospects with drug, alcohol and mental health concerns.

What make failure to survive insurance stand apart is that it can be underwritten quickly.  The average turnaround time from receipt of application to the approval of coverage is usually no more than several business days.  Underwriters offer simplified issuance of the coverage without requirements like intrusive medical exams, blood draws and urinalyses.

The fast underwriting period allows policy owners to meet the strict and time-sensitive deadlines mandated by lending institutions on loan agreements.  Failure to survive can also be extremely useful when the underwriting of a traditional term product is holding-up a business deal relying upon the insurance for a corporate buy/sell or investment agreement.

Although traditional life insurance is generally preferred, it is not always available to every client in every circumstance.  Niche products like accidental death and failure to survive have garnered huge followings in recent years because the products often afford opportunities that traditional life carriers have denied or cannot accommodate.

This article originally appeared at piu.org