Three things to know
Have your clients asked for advice on health coverage? As healthcare costs continue to skyrocket and become cause for concern for Americans at every income level, more financial advisors are recognizing an opportunity to provide another level of service and advice.
When it comes to health coverage, there are numerous strategies your clients may consider. While most are probably covered under a traditional workplace plan, there are nontraditional options that might be a good fit for clients in different situations. For example, if you have clients who are self-employed or retiring before Medicare eligibility, they may need a different solution.
Even clients who have access to a traditional, comprehensive workplace plan may see less value in this type of coverage as premium costs rise into the hundreds and thousands of dollars per month.
Here are three types of nontraditional coverage your clients may consider. While advising on healthcare isn’t typically financial advisor’s area of expertise, having a working knowledge on these options will allow you to position your firm as providing comprehensive advice. Want to offer your clients personalized healthcare advice? Bernard Health provides a Healthcare Extension to financial practices across the country that allows advisors to provide insurance recommendations, enrollment assistance, medical bill auditing and more. Learn more.Read More