Innovative New Loyalty Program Helps Health Insurance Agents Offset ACA-Related Commission Cuts

Sept. 13, 2011 - PRLog -- goHRA, an innovator in Health Reimbursement Arrangement (HRA) administration, announced today the launch of its Agent Loyalty Program, which rewards successful agents with direct commissions, referral commissions, and qualified leads.

The goHRA Loyalty Program is now available to all authorized goHRA agents, and participation is free.  “It’s a great way for agents to make more money doing what they’re already doing—selling insurance,” said Scott Meyer, co-founder of goHRA.  “We want to add that extra urgency and excitement, by giving them commissions and qualified leads so they can keep the ball rolling.”

Agent referrals are a key component.  “If the agent refers a friend, and that friend sells for goHRA, the agent makes money,” Meyer explained.  “Tell a lot of friends, make a lot more.  Tell a General Agent or Trade Association about us, and that GA or association starts working with goHRA, then wow—the sky’s the limit, really.”

HRAs, which allow employers to provide employees with tax-free money to spend on individual health insurance and other qualified medical expenses, are on the rise in the U.S.  “Small business owners are being forced out of the healthcare market,” said Meyer.  “goHRA allows them to set a budget and stay within that budget.  It’s perfect for companies that just can’t afford group rates anymore, or companies looking to offer health benefits for the first time.”

Many health insurance agents have experienced a reduction in commissions resulting from the 2010 Affordable Care Act (ACA).  “Agents who only sell group plans are now getting paid less for working just as hard,” Meyer said.  “And group is getting tougher to sell already, so just imagine 2014,” he added, referring to ACA’s mandate that companies with over 50 employees will be required either to offer affordable health care to employees, or pay a penalty and have employees buy policies on regulated exchanges.  Studies have indicated that many businesses will opt out of group health altogether, preferring instead to pay the penalty.  

Meyer believes this will be bad news for agents who only sell group plans, but great news for goHRA agents.  “Our current target market, 10-50 employee companies, will remain untouched.  But larger companies, having been forced into the penalty/exchanges, will want something to set themselves apart.  So they’ll set up HRAs.  

“And with all those referral commissions available, agents should realize: now is the best time to get on board.”

About goHRA:
goHRA is full-service administrator of Section 105 Health Reimbursement Arrangements (HRAs) and Section 125 Premium Only Plans (POP).  goHRA is based out of Westlake, Ohio, but markets to businesses throughout the United States.  To learn more, visit http://www.goHRAnow.com/agent

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goHRA allows employers to use an HRA to get out of group health, but continue to contribute to their employees’ healthcare at an amount they can afford. It is also a perfect solution for companies that are considering health benefits for the first time.