With 73 Percent Revenue Growth Over the Past Two Years, Healthcare Solutions Team Reported its Strongest Fiscal Year to Date in 2017
LOMBARD, IL / ACCESSWIRE / April 16, 2018 / Healthcare Solutions Team, a national health insurance agency, released its 2017 financial data and showed a 73 percent revenue growth over the past two years.
The company reported a 2015 annual revenue of $22.5 million, a 2016 annual revenue of $28.6 million and a 2017 annual revenue of $39.1 million.
In 2016, the agency submitted 74,069 applications for $199 million of annualized commissionable premium. In 2017, it submitted 103,261 applications for $230 million of annualized commissionable premium. That equates to a nearly 40 percent increase in applications and more than a 15 percent increase in premiums in one year.
In addition, the agency wrote $45 million in non-commissionable Affordable Care Act (ACA) plans each of the past two years.
”This is a prime example of our agents truly putting our clients’ needs first,” said Joe Eichman, Healthcare Solutions Team co-founder and president. ”We always work to make sure everyone is protected – especially those who need it most.”
It’s this integrity that has propelled Healthcare Solutions Team to experience a record-breaking year in 2017. Since its inception in 2007, Healthcare Solutions Team has grown from a team of 17 to more than 750 actively producing agents across the country.
”Healthcare Solutions Team is not the nation’s largest insurance agency. I’ve never strived to be the biggest … just the best,” said Eichman. ”This is a place where agents and team leaders are given the opportunity to build a business, earn a great living and have a blast along the way.”
Just this February, for example, 162 agents split $3.1 million in partnership bonuses.
”I respect anyone who has the courage to choose a career without a steady paycheck,” he continued. ”So, we are committed to rewarding those who are dedicated to delivering results.”
Last year’s astounding success comes on the heels of an acquisition in 2015 that could have derailed the company’s progression.
”We went through a very short adjustment period but now business is booming,” said Beata Biedron, director of operations. ”We have the freedom to nurture and strengthen the company as we see fit. As a result, we turned in the highest revenue year by far in 2017.”
”Agents love the culture, the challenge, our business model and our compensation,” said Dan Mack, vice president. ”When a new agent finds a home at Healthcare Solutions Team, we say – welcome to your last career.”
Eichman agreed. ”It’s not often an agent leaves Healthcare Solutions Team to contract with another agency,” he explained. ”When our competitors and carriers tell us that we are the envy of the industry, I have to admit, it’s quite flattering.”
Eichman noted that some employees have been with Healthcare Solutions Team since the beginning. One reason, he believes, is because they – like the agents – are part of the HST DNA.
”We are by no means perfect,” he said. ”We make mistakes all the time, but we will fix them as fast as possible for a client or an agent.”
”Our slogan is ‘A Plan for Everyone’ and it has several legs,” said Mack.
For clients, it means offering a variety of plans and products to ensure they are well protected. In addition to health care insurance, Healthcare Solutions Team provides an array of coverage including dental insurance, critical illness plans, Medicare supplements and life insurance; simple Health Savings Accounts (HSA); high-deductible plans; short-term medical coverage; small business, self-employed and group health care; and major medical plans for individuals and families.
For agents, the slogan reflects the company’s business strategy of providing an opportunity for a career with purpose. The family-oriented, fun environment attracts the best in the business – from entrepreneurial agents to knowledgeable managers and leaders who go out and make it happen every single day, said Eichman. ”The entire staff is solid in every way. They are the ones who keep this machine running, day in and day out.”
As a co-founder, Eichman created Healthcare Solutions Team in 2007 with the goal of providing families, individuals and groups with the best health insurance coverage for their needs and budgets. In today’s complicated healthcare environment, Healthcare Solutions Team’s licensed and accredited agents are well-versed on the variety of health insurance plans available on both the government-run and private exchanges. They add the knowledge and guidance for those seeking an understanding of their options in the marketplace.
On its path to financial success, Healthcare Solutions Team has earned numerous awards and accolades, as well. The company has received the Complaint Free Award from the Better Business Bureau multiple times and has been named America’s #1 Career Health Insurance Agency and America’s #1 Managing General Agency by Assurant Health. Healthcare Solutions Team has been listed in ”Inc. 500|5000” too.