June 30, 2014
The gbac Association Practice Group is pleased to announce the launch of its new broker training program for association private health insurance and employee benefit marketplaces. This initiative is pioneered by gbacAPG’s newest partners in Nelson Griswold and Scott Cantrell of Bottom Line Solutions of Nashville, Tennessee.
The gbacAPG broker training program is designed to help brokers in three key areas we have identified as critical needs; [a] key elements of the Affordable Care Act, and [b] how to transition an employer from a defined benefits program to a defined contribution program, and [c] how to operate with an electronic marketplace.
The opening of the new gbacAPG program for brokers occurs just as the June 27, 2014 edition of the Employee Benefit Adviser highlighted a story entitled, “Half of Benefit Advisors Considering Leaving the Industry,” and citing research in the graphic above. The article today goes on to cite that…
“While some brokers have left the industry and others are considering it, benefit advisers who not only want to survive but thrive in the changing health care environment know they need to adapt, says Tye Elliott, vice president of broker sales at New York-based Aflac.
Advisers are “expanding their focus to be more consultative and to offer a wider range of products and services,” he says, adding that data shows “this has been a successful strategy as many businesses are now relying more heavily on their partners for guidance.”
Employee Benefit Adviser, the broker industry publication, announced on June 12th that private employee benefit marketplace enrollment has hit 3 million – which is 3 times the previous estimate by 2014. Growth is now estimated to go to 9 million by 2015. Clearly the evolution of private health insurance and employee benefit marketplaces is growing, especially in the association space addressed by gbacAPG. With the appropriate training and orientation, brokers can achieve access to cutting edge technology and learning new methods of helping association members organize and deliver employee benefits.
This is What Brokers Receive for the Fee They Will Pay to be Trained
1. Access to an exclusive endorsed channel of hundreds of association members and thousands of employees for the broker’s small business book development and retention;
2. Access to a powerful, electronic marketplace that, were they to engage with the backbone vendor today, would cost the broker a $30,000 application fee and $250,000 annual commitment;
3. Broker commissions are largely protected and provide for growth through providing consumers with added benefits usually not provided under the old defined benefits model;
4. Broker can earn a portion of the pepm on a scale related to the number of enrolled that the broker generates;
5. Broker receives comprehensive training including key ACA issues, how to transition an employer from a defined benefits program to a defined contribution program, and orientation to the use of the electronic marketplace;
6. Broker joins a network of brokers involved in developing association practice group association-based business;
7. Upon completing training successfully, the broker signs a broker participation agreement with our ebenefit marketplace and with that, will be good to go serving their association’s members through the association marketplace. Trained and qualified first!
Through the gbacAPG Broker Training Program found here, now brokers of all types may access comprehensive training and then have access to powerful new tools to help their small group book of business remain competitive and provide choices they would otherwise never have had before.
Associations can learn more about the gbac Association Practice Group private, association-based health insurance and employee benefit marketplaces by going here and contacting us today!