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Exchanges Are Missing out On Ancillary

By: Tom Dimmer, Vice President of Business Development, Individual Markets & Exchanges

You just spent hours with a client making the pitch and closing the deal on a medical plan. Now you have the chance to either pack up shop or pick something from the dessert cart. You want dessert, of course you want dessert, so while the client has their wallet out sell them ancillary coverage too.

We work with some of the top private exchanges in the country. What we’ve learned is that the most successful exchanges are the ones that have ancillary woven into the DNA of the selling process.

Before the implementation of the Affordable Care Act ancillary coverage was easy to overlook for brokers only looking to make the big sale. Times have changed, and now including ancillary coverage in your selling strategy can help make up revenue that is no longer available thanks to ACA regulations.

Selling ancillary can be as simple as a yes at the end of what is sometimes a long painstaking process. Dental and other ancillary coverage is a great segue once your done with the main course. The hard part is over, so why not get something extra while the buyer is in a buying mood.

Ancillary is “peace of mind” coverage that is easy to sell, even to retirees on a fixed budget. I love popcorn. But, I would not love cracking a tooth and being stuck with a $1,000 bill and no coverage.

For decades baby boomers have been blessed with good dental coverage and in many cases good dental health. That could lead some new retirees to think that they don’t need the added cost of dental coverage, because right now their teeth are in good condition. But evidence shows that as we age we’re more likely to need major dental work. Just like with your car, teeth have been suffering through years of wear and tear. Without continued dental care many baby boomers, that are now retiring, can expect huge dental bills from procedures that can be avoided with proper dental coverage.

Retirees should also consider the other added benefits of regular visits to the dentist like disease detection. Studies show that dentists are often the first line of defense when it comes to detecting diabetes and even heart disease. These are the reasons dental and other ancillaries are an important part of someone’s overall health, and they provide the final pieces to overall insurance coverage.

You’re not done selling until the client is completely satisfied with his or her coverage. So before you step away from the table, don’t forget to give them all the options. That way you take home a bigger piece of the pie.