Aetna, Cigna Game Plan

[CHUMPS FROM OXFORD]

Love that co-op money. Just ordered a bunch of Ping sweatshirts and jackets with my co-op money. Of course, the Aetna logo has to appear but that's OK.

Really hard to believe. No, not really. Eli always is involved in games like this. But I know the Coach told him to kick it AWAY from Jackson. Guess he didn't hear.

 

[aheff]

I guess I am unbelievably naiive. I think the individual marketplace will grow significantly in the next several year. Here in PA, Aetna has/had a huge presence with indy. I am told it is one of their biggest markets in the country. They will see a monster reduction in apps in 2011, strictly due to brokers switching from Aetna to IBC. We're talking about significant double digit % reduction, in what should be a growing business, due to brokers. I doubt they'll get the picture, but doubtful.

 

[somarco]

Aetna used to be a fine company. When I first entered the job market Aetna was one of the places where I interviewed. They had an opening for an individual/small group rep in my home town.

I applied, interviewed but (was told) I came in second.

Seems they had a quota to fill and a white male did not fit their model.

The person they hired didn't even make it through the first year.

Like most carriers, they have become progressively more ignorant over the years. They suffer from terminal stupidity.

 

[AndreaSti]

My boss loves the stock market and he is thinking of shorting Aetna due to CMS sanctions, reform, etc. I'm not sure that is a good idea but I am pretty ignorant of the stock market so what do I know? Apparently, according to an insider, they are sitting pretty on a bunch of cash. This insider also said they are using MLR as an excuse to get rid of agents, and they aren't the only company. They sure have been doing a lot of direct advertising around here lately, and their web site home page has a big link to "apply direct". I'm just not feeling the love anymore.

 

[CHUMPS FROM OXFORD]

"according to an insider"

Often, the "insider" is a 12-year old blogger.

 

[AndreaSti]

"according to an insider"

Often, the "insider" is a 12-year old blogger.

Good one chumps! Actually this was a VP of Medicare sales, 30 years experience. He acts like a 12 year old sometimes though.

 

[somarco]

shorting Aetna due to CMS sanctions

Speaking of . . .

Seems to me most of the major carriers have had their hand slapped at least once by CMS. Who besides Aetna, UHC and Humana have had issues?

I don't follow that sort of thing since it does not affect me but perhaps I should. Have any of the Blues had trouble with CMS? How about Coventry?

 

[ShanHikari]

Well I use Aetna a lot in selling in CA, the HSA mostly. Though since changing the commissions selling health isn't enough to have a stable income anymore. What used to be a 20% commission is now a 7.... What kills is the 4 month advance instead of 9month... Oh well time to move on to life.

Not that I wouldn't sell health insurance when the chance isn't presented but its either move on from health or get a second job...

 

[sman]

Yes, BCBSGA did last year or was it the year before? It was one of the two. Coventry hasn't. Just this year, we've had Universal American (Today's Options), HealthNet and Arcadian. And Aetna continues to be under sanctions which began in February of this year.

While Cigna hasn't had any sanctions, it appears they are done with the MA business with the exception of Arizona. They continue with Part D nationwide.

Speaking of . . .

Seems to me most of the major carriers have had their hand slapped at least once by CMS. Who besides Aetna, UHC and Humana have had issues?

I don't follow that sort of thing since it does not affect me but perhaps I should. Have any of the Blues had trouble with CMS? How about Coventry?

 

[bill3173]

Does anybody have any idea when the sanction on Aetna will be lifted?