As a small business owner, you may hesitate to add another expense to your tight budget. However, investing in your employees’ dental insurance can save you money in the long run. Not only does it provide important benefits for your employees, but it also offers insurance solutions for your business. Here are some key points to consider when convincing small businesses to invest in dental insurance.
Understand the Benefits
Before you can effectively sell small business dental insurance, you need to understand your target audience. Small business owners are often pressed for time and resources when researching and comparing different insurance options. They are looking for affordable and practical solutions that provide value to their employees.
To address these concerns, it’s important to tailor your sales pitch to their specific needs. When selling dental insurance to small businesses, it’s important to highlight the benefits of coverage. This includes the obvious benefits of dental care and the potential cost savings for employers and employees. Dental insurance can help prevent costly dental procedures in the future and promote overall health, leading to fewer sick days and increased productivity.
Customizable plans that cater to unique needs and budgets can be a major selling point. Consider offering different levels of coverage, such as basic, comprehensive, and premium. Providing personalized and attentive customer service is important to build trust and rapport with small business owners.
Addressing questions or concerns can promote positive word-of-mouth recommendations for other small business owners. In today’s digital age, having a strong online presence is crucial. Utilize social media, email marketing, and a well-designed website to reach potential small business clients. You can also use targeted online advertising to get small business owners in your area.
Look for a Standalone Plan
Providing dental insurance can have a surprisingly strong return on investment. It’s also a unique way for small businesses to stand out from competitors who offer something other than this affordable benefit.
But it’s important to examine dental insurance’s costs and benefits carefully. These plans can add up quickly, especially when the benefits aren’t used. And if the price is more than the company can afford, offering these services might not make sense.
The good news is that companies can purchase standalone dental coverage in addition to their medical insurance. They can even buy a standalone dental plan through the Marketplace/exchange by entering their income and household information. This allows them to compare different options, including the cost of each premium, deductibles, copayments and annual maximums.
Considering these details is important because, as you might have guessed, not all dental plans are created equal. You may pay a higher monthly premium for more extensive coverage or a larger annual maximum. Depending on the needs of your employees, this may make a difference in their decision to invest in dental insurance.
Consider the Power Behind the Plan
With credibility established and a common frame identified, persuasion becomes the negotiating and learning process that leads colleagues to a problem’s shared solution. In a collaborative environment, such as many small businesses, this often requires a great deal of dialogue. Effective persuaders are not only open to the ideas of their colleagues, but they also encourage honest feedback and alternative solutions.
A key to the success of any dental insurance plan is its network. The best plans balance access to exceptional dentists with cost protections that make the coverage worth the premium. This is why it’s important to consider how your potential new program compares with existing offerings.
Traditional dental insurance plans often prompt employers to choose one of four options: Preferred Provider Organization (PPO) Plans, Health Maintenance Organization (HMO) Plans, Indemnity Plans, or Discount Plans. While these plans vary, all share a common core feature: They are profitable for the insurers.
Because dental care is often needed over a long period, these plans are sometimes considered to be more like investments than insurance. This explains why the financial performance metrics of the medical and dental insurance industry are so much higher than the insurance industry average – with 85% Medical Loss Ratios (MLR) for larger medical insurers and 80% MLRs for smaller dental insurance companies.
Find a Plan That Works for Today – and Tomorrow
Small businesses offering dental insurance plans to their employees have many advantages. Employees with access to a dental plan are more likely to visit the dentist regularly, which helps prevent oral diseases and saves money on costly medical procedures. In addition, employees with dental coverage are usually more present and productive at work, which improves company performance.
When choosing a dental insurance provider, we recommend considering the annual limits and percentage of expenses covered in the first year, the deductible amount, the coverage for children, and the nationwide provider network size. You can find these details by visiting the website of the plan you are interested in.