Joe Polish 3 Keys to Attracting Your Ideal Customers + Clients
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GENERAL INSURANCE SERVICES MAGAZINE FALL 2019 JOE POLISH 3 KEYS TO ATTRACTING YOUR IDEAL CUSTOMERS + CLIENTS + PROFIT + PURPOSE 2.0 - AMY JO MARTIN + READ MORE BOOKS - NEIL PASRICHA + BRAND ENDEARMENT - SCOTT STRATTEN NOTHING YET Your local hometown HERO Your local independent agent is your neighbor – someone you can trust and someone who’s here for you when it matters most. 219.879.4581 • GenIns.com 2 Your local hometown HERO Your local independent agent is your neighbor – someone you can trust and someone who’s here for you when it matters most. 219.879.4581 • GenIns.com 3 PUBLISHER Carle Publishing Inc. Gain control MANAGING EDITOR Erika MacLeod GRAPHIC DESIGN Allyson Chute over your CONTENT COORDINATOR Stacey Cowperthwaite CONTRIBUTORS Daniel Todd Eric Gibson healthcare costs Stephanie Domazet Craig Menne Jim Butcher Amy Jo Martin Neil Pasricha Ari Meisel Joe Polish Ann Handley Scott Stratten Brad Smart Alison Williams Kyle Rosenbaum Elizabeth Johnson ADVERTISING (Local) Kara Moon PHOTOGRAPHY Carle Publishing IStock.com Stephanie Ruff Images and Art GENERAL INSURANCE SERVICES 421 Franklin Street, Michigan City, IN 46360 GENINS.COM General Insurance Services Risk & Business MagazineTM is published by Carle Publishing Inc. All content, copyright © 2019, Carle Publishing Inc. All rights reserved. Healthcare out of control? Change the status quo. Risk & Business MagazineTM is a valued and recognized trademark of Carle Publishing Inc. This publication may not be reproduced, all or in part, without written consent from the publisher. 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BAH AD 2018-02 1/18 Toll Free: (877) 719-8919 Email: [email protected] Website: carlepublishing.com www.BerkleyAH.com 16 feature JOE POLISH Welcome! ATTRACTING YOUR IDEAL CUSTOMERS AND CLIENTS LETTER FROM THE PRESIDENT t is my pleasure to welcome you to the fall 2019 edition of our Risk & Business Magazine. General Insurance Services CONTENTS is pleased to provide this magazine to you as a valuable 5 LETTER FROM THE PRESIDENT & CEO resource for your company. 6 NEW EMPLOYEE BENEFIT OPTION COMING IN 2020 IAs I write this letter to you, I can’t help but think about Eric Gibson the year we have had at GIS. One theme resonates, and that 8 THE BENEFIT OF CONFIDENCE is growth. We continue to move our business forward and Daniel Todd have added many valuable members to our team that will help us carry out our mission of securing the future of the 9 PROFIT + PURPOSE 2.0 communities we serve. Amy Jo Martin When we set out to create this magazine, our goal was to 12 A PODCAST TO HELP YOU READ MORE BOOKS provide another outlet to help inform and educate, not only Neil Pasricha our clients, but all of the businesses in Northwest Indiana. 14 HOW WE DO PERFORMANCE REVIEWS We continually look for ways to help organizations grow and Ari Meisel thrive. As you flip through these pages, you’ll find many great 20 PERSONAL + PROFESSIONAL SOCIAL MEDIA PRESENCE articles related to business insurance, cyber risk, employee Ann Handley benefits, risk management, and other topics. Our feature story is “3 Keys to Attracting Your Ideal Customers & Clients” 22 BRAND ENDEARMENT by Joe Polish. Scott Scratten We appreciate you taking the time to read our current 20 PERSONALITY TESTS issue, and we look forward to any feedback you may have on Brad Smart future articles and topics. We know that business is built on 25 WHAT TO DO AFTER A HIT-AND-RUN relationships, so if there is any way we might be able to assist Stephanie Domazet you and your team, we would love to hear from you. 26 WOULD YOUR BUSINESS SURVIVE A CATASTROPHIC LOSS? Enjoy! Alison Williams 27 CYBER ATTACKS ON MAIN STREET BUSINESSES Kyle Rosenbaum 28 THE TOP 10 THREATS TO SMALL BUSINESSES Craig Menne, President & CEO Elizabeth Johnson GENINS.COM 30 BUCHER TECH - COMPUTER SECURITY Jim Butcher 5 NEW EMPLOYEE BENEFIT New Employee Benefit Option Coming in 2020: INDIVIDUAL COVERAGE HRAS BY: ERIC GIBSON, GROUP BENEFITS EXECUTIVE, GENERAL INSURANCE SERVICES n October 12, 2017, President Beginning in 2020, employers of all sizes employees’ income and wages for federal Trump issued Executive may implement a new HRA design—an income and employment tax purposes. Order 13813—“Promoting individual coverage HRA (ICHRA)—to On June 13, 2019, the Departments issued Healthcare Choice and reimburse their eligible employees for final rules that expand the usability of Competition Across the insurance policies purchased in the HRAs. Effective for plan years beginning OUnited States”—which states in part that individual market or Medicare premiums. on or after January 1, 2020, the final the “Administration will prioritize three Final rules released by the Departments of rules allow HRAs to be integrated with areas for improvement in the near term: Labor, Health and Human Services (HHS), individual insurance policies (or Medicare) association health plans (AHPs), short- and the Treasury permit employers to offer for purposes of satisfying the ACA’s term, limited-duration insurance (STLDI), an ICHRA as an alternative to traditional reforms. and health reimbursement arrangements group health plan coverage, subject to (HRAs).” This means that, effective for 2020, HRAs certain conditions: may be used to reimburse employees for The Executive Order further provides that Employers cannot offer any employee the cost of individual health coverage (or expanding “the flexibility and use of HRAs • a choice between an ICHRA and a Medicare coverage) on a tax-free basis, would provide many Americans, including traditional group health plan. subject to certain conditions. employees who work at small businesses, with more options for financing their • Covered individuals must be enrolled ELIGIBLE EXPENSES in individual insurance coverage (or healthcare.” An employer may allow an ICHRA to Medicare coverage). reimburse all medical care expenses, may • Employers must generally offer the limit an ICHRA to allow reimbursements ICHRA on the same terms to all only for premiums, may limit an ICHRA employees within a class of employees. to allow reimbursements only for nonpremium medical care expenses Employers must provide an annual • (such as cost-sharing), or may designate notice to covered employees. specific medical care expenses that will be BACKGROUND reimbursable. An HRA is a type of account-based group Although not required, it is expected health plan that is funded solely by that most employers will use ICHRAs to BY: ERIC GIBSON employer contributions and reimburses reimburse premiums for individual health GROUP BENEFITS EXECUTIVE, eligible employees for medical care insurance coverage or Medicare (including GENERAL INSURANCE SERVICES expenses, up to a maximum dollar amount Medicare Part A, B, C, or D as well as for a coverage period. premiums for Medigap policies). Eric Gibson specializes in group benefits for organizations of all sizes, HRAs are an attractive option for Enrollment Requirements employers and employees due to their having been with GIS for nearly six An employee who is covered by an ICHRA tax-favored status. Employers may take years. Outside of the office, Eric enjoys must be enrolled in individual health a federal income tax deduction for HRA spending time with his wife, Sidney, and insurance coverage (or Medicare coverage) contributions. Any reimbursements that daughter, Zoey. for each month that he or she is covered employees receive from their HRAs for by the ICHRA.