254,095 Producers on the Wall....
- Thread starter Yagents
- Start date
- 8,448
Since there will only be a scant few carriers selling on any given state's exchange, they might collude to match each other's base commission structure, just like the gas stations in town do? There could be incentive bonuses and awards though.
However, I do remember reading somewhere that insurers are prohibited from enticing agents to sell their policy vs. a competitors. Perhaps that was one of the proposed rules for brokers, to keep us totally impartial in our recommendations.
If brokers need to be trained and certify to sell on the exchange, wouldn't it be respectful of the carriers and the exchange itself to offer us contracts in June? We'll need to digest this very important legal document and then (if we choose to) proceed to be trained/certified, so we can BE READY TO ROLL on October 1st.
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hahah... u don't understand CMS do ya... stop bitching and adapt.... we do it every year in medicare
Ah, yes, that would be respectful!
Actually, I'm hoping we have time to see the benefit summaries before October 1st, and digest them before open enrollment comes! One can only hope... It won't happen, though. The carriers will release them at the last minute.
- 8,448
I don't know Ann. The major carriers have been doing exactly what the HHS Queen tells them to do thus far. Kathleen Sebelius shoots at their feet, tells them how fast to dance, and how high to jump.
She's tasked with making the Exchanges/Markets successful as quickly as possible. If Sebelius orders these carriers to get the army of 250,000 agents the information needed (prices, benefits, compensation, etc.) not later than July, to help us make a decision to certify or not certify, they will do it. The few carriers who will be selling on the exchange need Kathleen Sebelius's good will. She is their puppeteer on this stage.
-Allen
- 4,096
This is huge news!
The Gov. is giving us some respect and knows that they need us.
This is first step of being a part of equation. Comp levels will determine if it's a viable equation.
The Gov. is giving us some respect and knows that they need us.
This is first step of being a part of equation. Comp levels will determine if it's a viable equation.
You have a very good point, Allen.
- 15,041
You better hope commissions are high, they get no where near 254k producers, or most only sell a policy or two. 314 million doesn't go very far when spread among 254,095.
Probably only 25,000 will really produce, and the others will do little.
A few years ago, UHC told us that AZ has 32,000 licensed A&H agents, but only 500 of us really did the bulk of the business. (That was for group, but I'm sure the same ratios apply to IFP.) They said lots of those agents hold licenses because they are accountants or financial planners, or they work as a salaried employee for a carrier or agency. And most make $40,000 or less.
First, I doubt the 254,095 number, but second, I expect about 10% of registered agents to really produce. So many agents are on the fence right now - should I or shouldn't I? They will fizzle. They may register for the exchange, but whether or not they put a focused effort into producing is another issue.
- 15,041
I doubt the 250k number as well. That would be an average of 5k agents per state. Of course some will have more and some less, but I still doubt it. You really think 10-20k resident agents will register out of NY, CA, FL and TX? Maybe with carpetbaggers you'll get there, but I doubt you'll have that many resident agents out of each state register.
