BIP Winter 2024

TIP: Ready to enroll? Visit nabip.org/ professional-development/ courses/merps to sign up today. Or, reach out to professionaldevelopment@ nabip.org for more information.

• The ideal groups for implementing a MERP • The similarities and differences between MERPs and typical health reimbursement arrangements (HRAs) • The potential advantages MERPs offer over traditional insurance plans • The fiduciary duties associated with offering a MERP Because MERPs can take away copays, deductibles and coinsurance at zero out-of pocket cost to the member, they can create significant bottom line savings, Schreffler says. “One broker used our program to reduce premiums by 27%,” she says. “When brokers see that, they say, ‘This is too good to be true. There’s no way.’ And now I get to say, ‘Well, go and learn about what a MERP is and then you can better understand our program.’” The course is broken up into four one-hour classes, which can be taken consecutively or stand-alone: • Part 1: Introduction to Medical Expense Reimbursement Plans • Part 2: Designing a MERP • Part 3: Administration of MERPs • Part 4: Challenges & Best Practices Timing that works for you Not sure you want to commit material is also available. “It’s a more digestible version of the content,” says Schreffler. ”It’s like the appetizer to the main to a four-hour CE course? A non-CE version of the

course [and attendees] can figure out if they would like to pursue learning more about MERPs.” Schreffler says after the crunch of the fourth quarter workload, the new year is a perfect time to take a step back and think about how to grow your business and differentiate yourself as an advisor. “Ask yourself, ‘What other solutions might benefit the employers I’m trying to serve?’” she says. She notes that January is ideal for starting the education process because if you wait until the fall to start investigating MERPs, you likely won’t have enough time to become proficient in selling the MERP option with confidence. Schreffler says the impact of MERPs on clients can’t be underestimated. “If you go to an open enrollment meeting and tell a client, ‘You no longer have any out-of-pocket,’ people cry,” she says. “It is so emotional. I have had people come up to me and say, ‘Because I didn’t have to pay for it, I was able to detect that I had cancer and get treatment because I didn’t have any financial barrier.’”

Enter Medical Expense Reimbursement Plans (MERPs). NABIP is arming insurance professionals with the knowledge to implement MERPs with a new four hour continuing education course. Sponsored by Nonstop Administration and Insurance Services, Inc., and developed by industry experts at MZQ Consulting, the MERP CE course will guide attendees through the key aspects of these plans, including:

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