$100 Per App for PCIP - Whooppie!

[Ann H]

HHS decided to pay licensed brokers $100 per applicant for enrollment in the PCIP in the 23 states where the Federal government is running the high risk pool. Currently they pay $0 in these states.

NAHU Washington Update - 05/31/2011

 

[STIBROKER]

DANG....that just doubled my comp........

 

[arnguy]

Dammit, PA isn't one of those states!

 

[taterpeeler]

whats the avg premium for the obama plan?

take the avg premium compute what the 100 bucks equates to in commission % and that my friends is the precedence that has been set for the commish % in 2014... they just unzipped their fly

 

[Crabcake Johnny]

It's about 3%.

 

[CHUMPS FROM OXFORD]

Hmmm. Indiana. I guess better than nothing.

 

[AndreaSti]

Georgia - oh my. I also can't figure out: did they already reduce the premiums or not (am I being dense here?). Also, you have to sign a contract with an insurer to sell their products. I am assuming this will be the same? I know these are pesky details but I want to know.

And, are they meeting MLR? Dammit I want to know! Haha - I forgot they are GI with an adverse pool so I would think THAT would be impossible.

Is the $100 bucks for every year they are enrolled? I want to know the details now!
- - - - - - - - - - - - - - - - - -

It's about 3%.

Can't look at it in terms of percent - it's like MA/PDP products, a flat fee (yearly? huh huh huh?). Hopefully without the insane compliance. Since there are like 3 plans, I can't imagine there would be much in the way of compliance issues, but this is the gov't so you never know.

 

[stuy119]

There are two issues as I see it:

1. They are putting a number on comp. 3% (as calculated) is at least something, and if it's annual it's not too bad. Could be better, but it's a start.

2. They recognize that AGENTS are needed in this process. While the exchange rules haven't yet been set for agents, this is important.

Where it goes from here is yet to be seen. My guess is that they'll again have to raise comp, and enrollment will increase - and it helps us to get enrollment moving, as we prove our value in getting people into the plans.

 

[taterpeeler]

Then here it is... U will get 3 percent in 2014.... You wanted to know.... Now u do... Live well and prosper

 

[2112Greg]

Is that 100/app or is it 100/life on the same app.

Writing a family of 5 is the same commish as writing a college kid.

Sounds awesome, if so...