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Gilsbar Announces New Consultant Incentive Starting July 1, 2021

·4 min read

For groups moved to Gilsbar effective 07/01/2021 and later, a new incentive program is available.

COVINGTON, La., June 8, 2021 /PRNewswire-PRWeb/ -- For medical and wellness groups moved to Gilsbar effective 07/01/2021 and later, Gilsbar is excited to announce a new consultant incentive program. *

Details are provided below:

NEW SALES

  • Tier 1: Average of 250 lives placed with Gilsbar, the consultant will receive an incentive of 5% of the total PEPM for the first 12-months

  • Tier 2: Average of 500 lives placed with Gilsbar, the consultant will receive an incentive of 12.5% of the total PEPM for the first 12-months

  • Tier 3: Average of 1,000 lives placed with Gilsbar, the consultant will receive an incentive of 25% of the total PEPM for the first 12-months

RENEWAL

  • Tier 1: Average of 250 lives renewed with Gilsbar after initial contract period the consultant will receive an incentive of 2.5% of the total PEPM for the first 12-months of the renewal period

  • Tier 2: Average of 500 lives renewed with Gilsbar after initial contract period, the consultant will receive an incentive of 5% of the total PEPM for the first 12-months of the renewal period

  • Tier 3: Average of 1,000 lives renewed with Gilsbar after initial contract period, the consultant will receive an incentive of 10% of the total PEPM for the first 12-months of the renewal period

An example of the incentive program at work is provided below.

  • Consultant brings Gilsbar a 250-life group in Q1 2022 with an annual PEPM revenue of $70,890. The average number of lives is 250, Tier 1, so the consultant receives 5% of revenue, or $3,545.

  • In Q2 the consultant brings Gilsbar a 400-life group with annual revenue of $113,424. The average number of lives is now 325, Tier 1, so the consultant receives 5% of revenue, or $5,671.

  • In Q3 the consultant brings Gilsbar a 1,000-life group with an annual revenue of $265,860. The average number of lives is now 550, Tier 2, so the consultant receives 12.5% of revenue, or $33,233.

  • In Q4 the consultant brings Gilsbar a 300-life group with an annual revenue of $85,068. The average number of lives is now 488, so the consultant moves back to a Tier 1 and receives 5% of revenue, or $4,253.

  • Total consultant bonuses paid in this year is $46,702.

Kim Randazzo, Gilsbar's Senior Director of Client Services, shared, "This is the first time we've offered something like this to our consultant partners. Despite a pandemic, Gilsbar has been growing and is continuing to grow, and we'd like to share that success with our partners. We have always valued these relationships and this is another way we can show our appreciation."

For more information, please contact a Gilsbar Sales Representative at ebsalessupport@gilsbar.com.

*Total lives added and incentives earned will be calculated and paid quarterly. The maximum incentive a consultant can receive is $100,000 within a 12-month period from the first effective date of the incentive earned. The average number of lives is based on new lives effective 7/1/21 or later that the consultant holds with Gilsbar at the time the incentive is calculated. Some groups may not be eligible for the incentive.

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About Gilsbar, LLC
Established in 1959, Gilsbar, LLC® is one of the largest privately-held insurance services organizations in the country. Recognized for creating healthy businesses, Gilsbar, LLC® offers self-funded and fully-insured benefit plan management services, along with Wellness, Advocacy, overall Population Health Management, and H&L and P&C brokerage services. Gilsbar, LLC's integrated delivery model improves the health and well-being of its members, resulting in significant health plan savings for its clients.

Gilsbar, LLC® has been honored by Inc. magazine for its sustained growth, Modern Healthcare and Business Insurance magazines as a Best Place to Work, and WELCOA and the American Heart Association for its proven wellness methodology.

For more information, visit http://www.Gilsbar.com.

Media Contact

Elizabeth Wright, Gilsbar, LLC, (985) 898-1690, gilsbarmarketing@gilsbar.com

SOURCE Gilsbar, LLC