Jim and I were talking one day and, among other things the Choice Group Benefits website came up. We were reminiscing about my reluctance to make any changes to our plan. I suggested to Jim that I'd like to lend my story to his efforts because, I really think that you and I are not that much different when it comes to insurance and how we deal with insurance issues.
In 2007 Jim tried to introduce us to a more financially efficient method of funding the Health, Dental & Vision care benefits of our group benefit program, HYBRIDRX. I put him off that year, and then for another 3. Finally in 2011 I implemented the HYBRIDRX strategies. The result of my decision has been over $110,000.00 in premium savings over the past 4 years!
For sure we are happy & grateful for these results and, we even have better coverage. That said, I'm always beating myself up for the savings we lost for not acting when Jim first advised me about what he had for us 8 years ago. Why did I stall with my decision to follow Jim's advice? The truth is I was uncomfortable.
I know, Jim had been our consultant for 10 years at the time but, I just wasn't comfortable going off my routine. Jim and I have talked about why that was and I guess it came down to a few things. For beginners, I thought Jim was doing a great job with what we had. Yes he kept suggesting there was a better way but, subconsciously I convinced myself I was busy with more "important" things. I convinced myself I just didn't have time for group insurance and I was satisfied with how things were running. Time and again it seemed there were far more important company matters that needed my attention than group insurance financing. It just wasn't a big deal. Truth be told, it was just a lot easier to leave things the way they were. Group insurance always seemed to be at the bottom of my "to-do" list (sorry Jim). At the beginning of this paragraph I said I was uncomfortable. The truth is, the reasons I mentioned above for my discomfort were really excuses. At the time though, they felt real! I was not comfortable talking about group benefits because I didn't understand them, insurance confused me and, I just wanted something else to do than get into an insurance discussion. Actually the pricing thing was a pain and I never understood any of it. The problem was me. All I can say is that thanks to Jim's persistence, we have a fantastic program saving us thousands of dollars while providing improved coverage!
The truth is, for you to succeed with Jim, you're going to have to be honest with yourself. Given the choice, you'd probably opt for a root canal over insurance. Welcome to my world. But really, once you understand your carriers pricing concepts, how Provincial Health & Drug, Stop-Loss & Travel insurances protect your plans exposure, how & when they come into play in the overall scheme of things, the opportunities to improve your plans overall financial & coverage positions should become clear. The biggest obstacle to my company's success with our group benefits was not Jim, it was me. Yes, I had the doubts & fears that normally accompany a change and I’m sure I’m not the only one that gets those feelings. That said, it wasn't long before my fears faded. Today there is no question that I am much more comfortable in my understanding of our pricing, how rates are set and how we're saving money year after year. I get it, and I understand it! I actually now enjoy our Annual Financial Reviews. Our plan runs smoother than it ever has and, the staff have never been happier.
Thank you for taking the time to read my story. Please know that I have not been compensated in any way for writing this. I am a real client and this is my personal story.