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Delivering Long Term Care Solutions

Delivering Long Term Care Solutions. The H aslett Management Group, Inc. www.HMGLTC.com. The H aslett Management Group, Inc. What Happened?!?. Introduced to President of Local Employer 2nd week of December Case already presented by competing agent Identified competitive exposure

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Delivering Long Term Care Solutions

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  1. Delivering Long Term Care Solutions TheHaslett Management Group, Inc. www.HMGLTC.com

  2. TheHaslett Management Group, Inc. What Happened?!? • Introduced to President of Local Employer 2nd week of December • Case already presented by competing agent • Identified competitive exposure • HMG provided plan comparison • Re-wrote applications with $52,000 of premium on January 2nd

  3. TheHaslett Management Group, Inc. Where to Start • Identify the need • Build the infrastructure • Market your expertise • Manage the process

  4. TheHaslett Management Group, Inc. Motivators Employer / Business • Maintain Status as Industry Leader • Provide Value Added to Key People • Reduction of Tax Obligation Executive • Recognition of Need and Desire for Coverage • Discounted Dollars at Work • Reduction of Tax Obligation Broker / Insurance Carrier • Recognized Commitment by Employer • Broker is Paid for Their Efforts • Deliver the Benefit to the Rest of the Firm

  5. TheHaslett Management Group, Inc. Identify the Need • Small Business Market fastest growing segment of the LTC marketplace • Expands client base from agency • Builds long term profit center with built-in coverage additions • Provides access to financial relationship with employers

  6. TheHaslett Management Group, Inc. Build the Infrastructure • Develop Expertise • Repetition Creates Ongoing Success • Marketing Program • Proposal Development • Field Assistance • Program Delivery • Billing Reconciliation and Plan Maintenance

  7. TheHaslett Management Group, Inc. Market Your Expertise • Client Contact through existing contact • Request Executive Contact in charge of benefits • Have HMG contact executive to discuss LTC on behalf of agency • Provide Overview with request for meeting • Provide Field Assistance and Point-of Sale • Provide assistance with Marketing

  8. TheHaslett Management Group, Inc. Manage the Process • Presentation Materials • LTC Overview • Supporting Documentation • Coverage Comparison • Pricing Analysis • Point of Sale • Initial Presentation • Teleconference • Negotiation of Offer • Enrollment

  9. TheHaslett Management Group, Inc. Steps Toward Implementation Sample Timeline • Identify Key Contact • Client Contact • Development of Presentation • Scheduling of Meetings • Face-to-Face Visits • Open Case Management • Plan Implementation • Executive / Employee Enrollment • Billing Reconciliation • New Enrollees • Claims Administration April 2007 May 2007 June 2007 Summer 2007 Ongoing . . .

  10. TheHaslett Management Group, Inc. Plan Implementation • Negotiation of Offer • Carrier Selection • Education Process • Scheduling of Meetings • One-on-One Enrollment • Benefit Delivery • Billing Administration

  11. TheHaslett Management Group, Inc. Carrier Selection • Carrier Stability • Pricing Discounts • Underwriting Concessions • Enrollment Capabilities • Coverage Options • Billing Considerations • Specific Coverage Provisions • Product Platform

  12. TheHaslett Management Group, Inc. Platform Considerations • Situs State • Policy Ownership • Underwriting Needs • Vesting • HIPAA • Compliance • Enrollment Support • Technology Capabilities • Plan Support • Account Executive

  13. TheHaslett Management Group, Inc. Getting Started • Make the commitment to grow LTCi part of your practice • Leverage HMG expertise, relationships, and competence in multi-life LTC • Include LTC articles and post-card message to existing relationships • Offer multi-life educational seminar if needed • Contact clients and use Data Collector to identify business opportunities • Set appointments for now, plant seed for end of year, or renewal scheduling

  14. TheHaslett Management Group, Inc. Key Concepts • Premiums tax deductible similar to health insurance • Can be offered on a discriminatory basis • Corporate resolution / health reimbursement plan documentation • Plans can provide golden handcuff and golden parachute • Coverage options can meet most employer goals

  15. TheHaslett Management Group, Inc. Employer Paid Industries that May Surprise You……… • Food & Beverage Distributors • Credit Unions • Insurance Agencies • Funeral Services • Associations / Charities • Construction / Contracting • Security Companies • Restaurant Chains

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