ValeRosso
Guru
- 636
Why is FE not an ethical product?
Aetna non-commission plans effective 11-1-24
- Thread starter olivia0813
- Start date
Why is FE not an ethical product?
Medicare bro
Super Genius
- 249
It preys on poor people. Most will have it for a year and then drop it. FE has crazy chargeback as most people getting it don't even have a bank account. It's absolute garbage.
FE is not a garbage product. It's a procrastination product.
I've got FE clients that pay annual premiums. They can afford it.
Medicare bro
Super Genius
- 249
It's life insurance for the ghetto who use green dot cards.
Not common to have it suddenly happen in the middle of AEP like this. But not uncommon to have non-commissionable plans.
It's called a hard market. It's the insurance industry of the stock market having a 10 or 20% correction. Many hacks on this forum will be out of business a year from now, but the smart ones will expand their business, and come out the other side of this smarter, stronger and richer.
Companies are scared of the landscape in 2025. Drug plans went from 23 to 14 in 2025. MAPD is feeling the burn too.
The sky isn't falling but plans are going back to what they were pre-COVID.
In my opinion, In 2026, companies will be better suited to have their low performing plans off the market. Watch, we'll see things back to normal then. Not 2023 normal, think 2015 normal plans. When most of you jokers were selling cars and not trying to sling MAPD when the Covid bonuses ran wild.
The sky isn't falling but plans are going back to what they were pre-COVID.
In my opinion, In 2026, companies will be better suited to have their low performing plans off the market. Watch, we'll see things back to normal then. Not 2023 normal, think 2015 normal plans. When most of you jokers were selling cars and not trying to sling MAPD when the Covid bonuses ran wild.
What you're failing to realize is a big fat part of the expenses and a target for cuts is agent commissions , overrides and marketing money . Marketing money from carriers was much tougher this yr . Next yr I'll be you anything carriers go after overrides starting for 2025 aep hard . Marketing money will be cut hard again if any . What Aetna doing said is nothings off the table . By axing commissions going forward on popular products anything's possible . The agent means nothing and will be shit on if it means more profit .As I argued 4-5 months ago and I was proved correct this would a aep like no other in history . I read from Jared Stock the king of #'s on Medicare . 7% of all mapd plans nation wide were termed 10 times normal . Yes your correct plans are Heading back to pre Covid like . But it's creating massive upheaval and movement . I'm getting calls in areas that Aetna and Humana changed little are they going under . The words spread like wildfire . I've talked to about 90% of my clients since 9-10. The agent who's talked to only 20-30% of his clients will lose 30% of his clients by the end of oep . What attracted all to Medicare was the steady renewals . If you have to move 30-50% of your book yearly because of terms or uncompetitive products Medicare becomes a non growth business .
He can always teach a class on prognostications at Hogwarts.
That may be true in the long run but what one thing you are overlooking is that something like 10,000 or 11,000 or so people are turning 65 each day which will continue for a while. The baby boomers create a bubble in demand for anything that is relevant to their current age. Medicare will become a non-growth business for demographic reasons when the baby bust generation starts hitting 65 coupled with the mounting deaths of the boomers.
As an aside the baby boom generation is also going to affect the stock market and then bond market (the bond market typically follows the stock market with a several year lag). Over half of the stock market money is retirement funds/companies investments. Because those funds are subjected to minimum distribution requirements, there will be required withdrawals. More money will be taken out than the smaller generation under them is putting in. The stock/bond market will drop somewhat because of that. Supply/demand. And no. It isn't going to be made up by third world investors. The countries that invest the most in the USA stock market are developed nations. This makes me worry about annuities that, after the 10 year guarantee, are then going to be more likely to hit the minimum distribution, or something closer to it, because of the market.
