Cash back health insurance in Connecticut

Successfully placing benefit plans for businesses and individuals comes down to forging solid relationships built around trust. It helps also to have a unique product or offering that your competition does not offer. One product that fits this description is with a plan design offered by Trustmark.

All premiums collected by insurance carriers get divided up and placed into separate “buckets” for costs such as claims and administrative expenditures.  While “healthy” group trend lower with rate increases at renewal, one company takes this a step further.  

Trustmark processes their premium income the same way as above, but puts aside the claims portion of the premium into a separate account.  If the claims activity of the group is low throughout the contract year, then the company receives a reimbursement check.  This plan works particularly well with groups that tend to skew younger such as some of the blue collar trades, coffee shops, or those companies offering many entry level positions. 

One hurdle that can be problematic is that while carriers require all enrollees to fill out family health statements at time of application,  Trustmark needs all this information prior to the application in order to determine the exact premium.  There are cases when this program does not price out competitively with the other market options due to the health history of the group,  but when it is a right fit, it can be a boon to both the agents and their prospective new clients.