Why Continuing Education is Important – and Why You Should Choose BIC!

BY: Daniela Sartori
Director of Sales Operations, Benefit Indemnity Corporation
Phone: 443-275-7401
Email: daniela.sartori@benefitindemnity.co

Continuous Education not only brings professional advantages but also supports personal growth. In the insurance industry, ongoing education is especially important because it ensures agents and brokers remain up to date with the latest industry trends, regulations, and product developments. This enables them to deliver superior service to clients, stay compliant with licensing requirements, and maintain a competitive edge in an ever-evolving market.

Staying informed about new products and regulations helps insurance professionals better advise clients and meet their needs more effectively. Many states mandate that insurance agents complete continuing education credits to retain their licenses. In Maryland, our resident state, you need 24 hours of continuing education every two years, including 3 hours of ethics. The industry is constantly changing, with new technologies and market shifts occurring regularly, and continuing education helps agents stay informed and adapt.

Many courses emphasize ethics and compliance, ensuring agents understand professional standards and act responsibly. By continuing their education, insurance professionals can stand out from the competition and show their commitment to professional development. As regulations and market conditions change, continuing education equips agents to modify their strategies and stay relevant.

By engaging in ongoing education, agents can stay ahead of market trends, refine their strategies, and provide the best service to their clients.

Classroom-Based Courses: Traditional in-person classes offer structured learning environments with direct interaction with instructors and peers.

Online Courses and Webinars: Online education offers convenience, making it easier for busy professionals. Webinars are often more affordable and flexible compared to in-person classes.

Workshops and Seminars: Workshops and seminars provide hands-on learning and networking opportunities. Industry experts often share their real-world perspectives, and sessions may cover emerging trends or best practices.

When choosing a continuing education provider, it's essential to select one that offers high-quality, relevant courses aligned with your professional objectives.

Why you should choose Benefit Indemnity Corporation

Rodger Bayne, our lead instructor, is not only an expert in his field but also a dynamic and engaging public speaker. With thousands of hours of outreach and educational meetings under his belt, Rodger brings a wealth of knowledge and charisma to every session. He has a deep understanding of HealthCare Reform and is a strategy expert, making him the perfect guide for navigating the complexities of self-funding. These webinars are perfect for insurance professionals looking to deepen their knowledge of self-funded plans, stay compliant, and enhance their advisory skills. Join us and learn directly from Rodger Bayne, whose engaging teaching style and expertise will help you master the ins and outs of self-funding.

Don't miss out - check out our Online CE Schedule and register now for these insightful, interactive sessions and earn CE credits while expanding your knowledge!

Daniela Sartori
Director of Sales Operations, Benefit Indemnity Corporation
Phone: 443-275-7401
Email: daniela.sartori@benefitindemnity.co

$1,060,000*: Revolution Health Plans Returns Over a Million Dollars in Claims Funds

The first thing to know about renewals is that it’s always better to share renewal news—whether it’s good or bad—in person. This is the perfect opportunity to go over the reports and explain how their funds have been used. The aggregate report will show 9 months of claims utilization. Pay special attention to the Year-to-Date Surplus Column to see how your client’s claims are trending. This will give you an idea of whether they’re on track to receive a surplus check at the end of the plan year.

Underwriting Submissions for BIC Health Plans

SUCCESS STARTS WITH YOU. Taking the time to meet with your client and thoroughly discussing the necessary steps to finalize the rates for the Revolution & Precision Health Plans is key.

Buy Less Insurance, Get More Benefits!

High Deductible Health Plans (HDHP) don’t need to be qualified for HSAs in order to be effective for groups. In fact, some moderate up front copays covering basic services before the deductible applies is a great way to make a HDHP work better. Create an option that’s not HSA compatible to help some employees and employers maximize benefits AND SAVINGS! By purchasing a HDHP, your client can save a tremendous amount of premium compared to a more traditional style of health plan or HMO. The savings from purchasing an HDHP is often enough to offset or justify the higher deductible on the health plan. This leaves your client in a win-win situation. While this buying strategy has always been available, premium increases have been highly unpredictable. And often this strategy is overlooked in exchange for shopping for the cheapest premium and accepting the inevitable.

Health Reimbursement Arrangements - Updated with Double-Stacked Savings!

In June of 2002, the IRS established a ruling and terminology for what are now known as Health Reimbursement Arrangements (HRAs). An HRA is an extension of a qualified medical reimbursement plan, in which the employer agrees to provide reimbursement for certain employee medical expenses. This process has always enjoyed a tax favored status as employer payments for reimbursement of IRS qualified medical expenses are deductible to the employer and not considered taxable income to the employee. The 2002 ruling added clarification that an employer promise of reimbursement that goes unused in a given year, can in fact, be carried forward for future years’ expenses without adverse tax consequences.

Third Party Payment Efficiency Without Standards?

Achieving efficiency in an ecosystem absent of standards presents an insurmountable task. When each provider charges what they will but charges each patient according to the rules of responsible party paying on behalf of each patient’s health plan or absence thereof, we find only chaos. This chaos costs us hundreds of billions of dollars each year in bloated administrative waste and continued financial abuse of the system. According to the JAMA, this number is estimated to reflect “…$760 billion to $935 billion, of the $3.6 trillion the US spends on health care annually” … “is potentially wasteful.”

Assuring Coverage When it is Needed Most

Health coverage is often taken for granted until it is needed the most. How a person feels about their plan is often determined at that very point. But waiting until that point, or sadly, after it, to understand how the plan works, is too often the case. This results in more work, stress and potentially, unintentional lack of coverage...

Consumer Driven Health Plans - Give Me A Break!

Since when does your consumer drive his health plan? Did you know that one study once revealed that the American consumer can guess the price of a Honda within $300, and yet are off by about 50% a four-day hospital stay? Did you also know that 17% of consumers know the cost of their medical treatment BEFORE receiving it?

Critical Strategies for Consumer Driven Health Plans to Succeed

Consumer Driven Health Plan (CDHP) concepts are built upon the premise of buying less insurance. By using higher deductibles and cost-sharing (such as co-pays and co-insurance) one reduces the insurance costs enough to have money allotted to cover these increased cost sharing items.

Two Is Better Than One

A meeting or presentation with a prospective new client can be daunting. Each of us has our own methods of approaching. Over the past 30 plus years, I’ve accompanied many brokers and have seen a wide variety of successful formulas. But one thing rings true to all, and that is, the power of two...

Provide Rewards, Receive Rewards

Self-funded health benefit plans offer groups the opportunity to be rated more precisely for their own specific demographic situation that can all add up to great savings for some groups. While not everyone will save, many of your clients may be able to save significant costs on their benefits, compared to the fully insured market place.

Why Continuing Education is Important – and Why You Should Choose BIC!

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