Aetna / Coventry Go to 0% on March 2nd

[Yagents]

Just got the email.

Aetna / Coventry go to 0% with coverage effective dates after March 1, 2016

Glad I saved up my vacation and sick days balance for times like this.

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Another losing carrier, but still committed

http://www.benefitspro.com/2016/01/...editorial&utm_campaign=01132016&_LID=63272263

 

[russelltw]

Just got mine! Starting to feel left out...

 

[kvnchris]

Oh man this is terrible.

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What's the general consensus among brokerage owners now? Do we think that BCBS will be pulling the same move? If BCBS goes to 0%, I'm going to be very depressed for a bit. Been working very hard to build up my book independently for the first time this year, have licenses in most states, and most commission with BCBS fortunately. Would love to hear some discussion about this. If only 6% of their business is within the exchanges, why do they feel the need to completely remove agents? Can't even offer 1% commission?

 

[AllenChicago]

Just got the email.

Aetna / Coventry go to 0% with coverage effective dates after March 1, 2016

Excerpt from the Aetna/Coventry E-mail today...

"To ensure we continue to offer value to our customers and provide viable options for your clients, we have made the decision to pay broker commissions on new business only for applications received during the Open Enrollment period, ending January 31, 2016. We will not pay commissions for sales with coverage effective dates after March 1, 2016, and continuing through December 31, 2016 effective dates. This applies to on- and off-exchange business. There is no change to renewal commissions."

How does Aetna reducing its agent commission rate to 0% for 9 months out of the year provide "value, and viable options" to our clients? That's illogical and crazy.

Also, any material change to our existing client's coverage after March 1st of this year will trigger a SEP and instantly lower the commission to 0%!

 

[Yagents]

Sorry. The title of the thread is wrong.

It should state $0 PMPM.

It makes a difference on how you look at it.

Sorry, 1% won't work either. In fact, 3% will maybe get me out of bed.
And sorry for the 1 yr of hard work, I've got 10yrs building, and POOF.......or puff

 

[kvnchris]

Sorry. The title of the thread is wrong.

It should state $0 PMPM.

It makes a difference on how you look at it.

Sorry, 1% won't work either. In fact, 3% will maybe get me out of bed.
And sorry for the 1 yr of hard work, I've got 10yrs building, and POOF.......or puff

Not trying to be a drama queen about my business or anything, hopefully your current residuals don't get thrown out the window next year :( It just sucks to finally get the ball rolling on my own and all the systems are in place (dialer, processing team, pay schedules, etc) and now 2 MAJOR carriers are leaving us high and dry. What happens if they all decide to just stop selling individual health care and we've only got BCBS left? Why are they in debt? Why hasn't the government paid subsidies out? How is this not all over the news?

 

[russelltw]

Think Aetna and other carriers move to 0% or 0 PMPM is to somehow stem the SEP business which is evidently very expensive claims wise for the carriers. Lots of people getting sep's that should not have them. FFM does not verify the SEP right now. That might change in the future. For now, it's what carriers are doing to stop "risky" business...

 

[YouGotMyMoney]

Everyone get's STM starting 3/2...or....accident plan.....or CI ....whatever I can get em approved for...4/3 nite cruise package $99 ha

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Also, any material change to our existing client's coverage after March 1st of this year will trigger a SEP and instantly lower the commission to 0%!

Assurant Dejavu?

I had a 2015 Alabama client call today wanting to renew for 2016, or get a plan for 2-1----- had to tell him obama only wants his little retarded elves who take the short bus to work slinging his crack.

 

[AllenChicago]

Think Aetna and other carriers move to 0% or 0 PMPM is to somehow stem the SEP business which is evidently very expensive claims wise for the carriers. Lots of people getting sep's that should not have them. FFM does not verify the SEP right now. That might change in the future. For now, it's what carriers are doing to stop "risky" business...

These "risky" people who need coverage due to an illness or injury will simply make up a lie and call Healthcare.gov, or enroll at the carrier's website. Aetna, Humana, UHC, et.al., are simply using SEP losses as an excuse to (slightly) trim expenses, via commission elimination.

If they really wanted to make a significant dent in dollars lost due to SEP enrollments, they would stop quoting their plans at the Exchanges and at their websites.

That is what our state's #2 carrier did on 12.28.2015...right in the middle of open enrollment. Land of Lincoln Health simply made its plans invisible at Healthcare.gov, the WBE's, and at www.LandofLincolnHealth.org.. Existing customers who have a SEP triggering event can call LOLH to make whatever change they want, but no new customers until 2017 Open Enrollment, if then.

UHC, Aetna, Humana know that they can do what Land of Lincoln did, and it would be effective, but they prefer to exact pain upon agents and brokers instead. I believe it's called sadism?

 

[saintstigers]

What's interesting is that UHC has cut off the agent, but they are still running online ads for direct sales and using online distributors like ehealth. So they still want business, just not agent business. They'd rather an uniformed prospect pick a bronze plan on their own.