MBA Co-Brokering A Practical Solution

1. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce MBA Co-Brokering A Practical Solution 7/15/2009

2. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Are you hesitant to write Health Coverage….. • Due to a lack of expertise? • Don’t have enough time? • Weary of requesting quotes from multiple carriers? • Overwhelmed with paperwork? • Trying to focus on larger groups? • Confused or cautious about compliance and regulatory issues?

3. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • MBA the leading small group distributor of benefits plans in Massachusetts offers our Co-Brokering program. The program allows you to participate in the health insurance market and maintain control over your clients. • We do the work, you make a commission!

4. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Whether it’s a self employed client, individual (non-group) or a group of 100+, we have the resources and over 40 years of experience to help you and your clients get the best benefit plan available. • There are 3 different Co-Brokering Options • Co-Brokering Program 1: Soup to Nuts • We manage your existing block, all new business and renewals • Co-Brokering Program 2: • We manage all of your new business and their renewals going forward • Co-Brokering Program 3: • We provide back office and admin support (why hire an admin person when you have us??)

5. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Here’s how it works: • Existing Block of Business Management • Both Parties sign and accept the Co-Brokering Agreement • MBA Representative is assigned • Any accounts that are in process or renewing shortly should be immediately forwarded to MBA rep • Broker of Record change letter completed and sent to all carriers, assigning MBA as the BOR • Excel or access export of all account information forwarded to MBA rep • All files electronic or hard copy of groups to be managed forwarded to MBA rep • Letter 1 (see at end of this presentation) sent to all clients on brokers stationary • Letter 2 (see at end of this presentation) sent to all clients on MBA stationary • Instruct all brokers in-house reps to forward leads to MBA rep • Next page for renewals management

6. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Renewals Business Management • Renewals Management begins about 90 days (depending on carrier) prior to renewal date • Undertake fact finding with group (reach out; involves a pre-renewal form) • Confirm the census and all pertinent information needed in order to correctly renew and quote • Contact all carriers for alternative proposals • Analyze and evaluate proposals based on group criteria and group needs • Communicate proposals to group and broker • Review renewal cost increase or decrease, alternative plan costs • Review benefit design suggestions, use of HRA, HSA, FSA • Review Service area and physician availability • Make appointment with group (if necessary or needed) • Renew group • Complete necessary renewal form(s) • Complete necessary HIRD forms and other compliance/regulatory related documents • OR • Write group with new alternative carrier

7. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • New Business Management • Make sure the lead forwarding process is understood between broker and MBA • Undertake fact finding with group (reach out; involves an RFQ) • Confirm the census and all pertinent information needed in order to correctly quote • Contact all carriers for proposals • Analyze and evaluate proposals based on group criteria and group needs • Communicate proposals to group and broker • Review proposal plan premium costs • Review benefit design suggestions, use of HRA, HSA, FSA • Review Service area and physician availability • Make appointment with group (if necessary or needed) • Enroll group with carrier • Deliver enrollment materials and compliance/regulatory documents • Review all completed forms and documents prior to sending to carrier • Follow-up on incomplete/missing documents • Ongoing Administration • Add-ons, terms, COBRA, Billing questions, benefit questions etc…

8. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Back office and Administrative Support Management • Conceptually we act as an extension of your staff • Broker does the selling, renewing and is the main point of contact • Run proposals • Answer questions (email, phone or fax) while you are on the road • Communicate forms and documents per your request • Handle add-ons, terminations, COBRA and changes to accounts • Your MBA reps contact information may be given to your clients to alleviate you from the day to day admin which frees you up to build your business!

9. Providing Employee Benefits and Administration for over 50,000 Small Businesses, Associations and Chambers of Commerce • Contact Information • Brian Cavallo • (781) 228-2235 • bcavallo@mbagroup.com