Selecting an insurance advisor is an important first step in managing a group medical program. Criteria usually revolve around several factors including compatibility. Corporate philosophies of the employer and insurance advisor should harmonize.
Few plan sponsors share our philosophies for a variety of reasons. Most cling to the strategies of the past all of which have failed to solve health care. The reality is most plan sponsors practice Motherhood with little or no emphasis on Individual Responsibility and often times health care financial decisions are influenced by HR department personnel who by nature are adverse to change. However solving health care requires change and nothing will change until the pain of staying the same is greater than the pain of change.
The first step in considering a collaborative effort is to determine compatibility, shared goals and strategies. If these align to the satisfaction of both parties an agreement is reached outlining the duties and responsibilities of work to be performed. A designated Agent of Record change begins that process.
In the alternative, gathering data and searching markets without a commitment of any sort makes little business sense and not something we normally do.
An initial meeting with a prospect is a critical first step towards evaluating opportunities for the benefit of each party. Some of the questions to be answered include:
- Where are you today and where do you want to be?
- What seems to be the problem and how long have you had the problem?
- If this meeting accomplishes everything you could possible hope for what would that look like?
If philosophies align and an agreement to proceed is reached, the process going forward begins with an evaluation of the group’s current program with recommendations.