My name is Bob Bate, and I've been selling insurance for a little over seven years now and I also do Medicare as well. Prior to learning about the Defined Contribution Plans, I really didn't see much of a business opportunity, especially for group business, and even the individual side seemed to be a little shaky at that point. When I first heard about Josh's Blueprint, it just made a lot of sense to me. Of course, I was concerned that I wanted to be accurate with everything, and I wanted to make sure that it was going to work without coming back to bite me. But everything just made sense. I was skeptical at first, so I did my research. And after everything looked like it was correct, I went ahead and made the investment into the Blueprint.
After looking at the Blueprint and using the concepts that Josh has laid out, I did my first deal with a group of about eight employees. They were actually getting ready to lose their coverage because of participation. The cost had just gone up so much within their group, and so we went in and talked to them about the Defined Contribution and how the employer could fix his cost. Actually, the company that they were with, almost at the same time, had caught up with them and was canceling their group policy, so it worked out just perfect. They were able to use the Defined Contribution Concept. The employer fixed his cost, and then several of the employees then bought individual policies from us. Really just in that one deal, it about doubled our income of what it would have been if it had been just a group policy.
With this first deal, I realized that I actually was able to double my income in about half the time because, prior to this, it would have taken a couple of weeks, three or four weeks to write that many individual policies. We did these in one week.
Now that I've been through the Blueprint, it's just really changed the way we look at both individual and group health insurance. It just really has thrust us into the group market. Before when we were in the group market, you could take a spreadsheet in and compare rates and hopefully you came out a few dollars less. Then even in that, if you won the deal, you could always lose it just by an agent record change. Now we have some real solutions to the problems that employers face. We add value to that by helping them understand what's at stake, by showing them how they can fix their cost and save money, and actually be better for the employee. It just makes me feel good and it sets me apart from other people that are in my market who aren't showing this concept. What we found out so far is that there really aren't any other agents that are talking about this and it just opens the door wide open.
One example is we had one of my friends that's in the P&C business went into a networking group, and they were talking about their group health plans. In our area there's a private cooperative that's being started, and it really has some very negative points to it. Yet there was nobody in that group that knew what other options there would be other than just normal group plans. I just really feel like that because of this, we're on the edge of a wave that's going to flood the market. Now that we're even seeing companies get on the Health Reimbursement Arrangement and Defined Contribution bandwagon, it's just going to open the door for that flood of business.
With the information that we've gained from the Defined Contribution Plan and Josh's Blueprint, it's helped us to actually get some free radio publicity. I had a radio station manager that was a client on the individual side. He'd left his group plan because of cost. One day, we were talking about that, and I started explaining to him how Defined Contribution works. He wanted us to go on his morning talk show, and normally it's a 30-minute public events talk show. That particular day, the topic just kind of took off, and he actually carried that program for a full hour. That was a full hour of no-cost advertisement for my agency.
I feel the information that Josh has put out there, he's just kind of laid the groundwork for us. We're looking forward to 2014, and we are talking with groups now on how they can implement it starting now with what it's going to help them do when the 2014 hits and all the implications of healthcare reform are in full force. To an agent that's skeptical about the Blueprint and the information that Josh has, I would say just get into it, get up to speed as fast as you can. This thing is really great, and it's going to help you make a lot of money.