- 3,384
From NAHU via WSJ:
Agent Compensation To Change
- Thread starter Dave020
- Start date
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- compensation
- 14,808
Re: Agent Comp To Change.......
....it's coming.
....it's coming.
- 3,352
Re: Agent Comp To Change.......
Flat app fee baby...S#$t comp.
Flat app fee baby...S#$t comp.
- 1,459
Re: Agent Comp To Change.......
I've made a living in my state selling carriers that pay a flat first year fee of $405/family ($250 each renewal year) or $180 single ($120 each renewal year). If I could get the same or even 75% of that amount with no underwriting to worry about, I would be absolutely fine with it. However, if it goes the route of our state risk pool, a $50 one time referral fee, then it's game over.
The big unknowns: will the exchange pay brokers? If so, what amount and will there be renewals? Too early to tell.
I've made a living in my state selling carriers that pay a flat first year fee of $405/family ($250 each renewal year) or $180 single ($120 each renewal year). If I could get the same or even 75% of that amount with no underwriting to worry about, I would be absolutely fine with it. However, if it goes the route of our state risk pool, a $50 one time referral fee, then it's game over.
The big unknowns: will the exchange pay brokers? If so, what amount and will there be renewals? Too early to tell.
- 3,352
Re: Agent Comp To Change.......
Why are the major carriers gearing up to cross sell ancilliary lines instead of major medical? Its not too early to tell what comp. will be. Comp for GI plans will be next to nothing, there is going to be no market for it. It will be too expensive and the carriers know it. 90% of people will just pay the fines and go without buying insurance. The game is already over. We can pray all day long for a fair flat app fee, but yea - I see comp at about $50 an application. What a career. Somebody tell me I am wrong. Somebody.
Why are the major carriers gearing up to cross sell ancilliary lines instead of major medical? Its not too early to tell what comp. will be. Comp for GI plans will be next to nothing, there is going to be no market for it. It will be too expensive and the carriers know it. 90% of people will just pay the fines and go without buying insurance. The game is already over. We can pray all day long for a fair flat app fee, but yea - I see comp at about $50 an application. What a career. Somebody tell me I am wrong. Somebody.
- 9,744
Re: Agent Comp To Change.......
As Winter has eloquently posted many times, the answer to this question can be found in the states that already have a GI and/or "exchange"-type environment; MA, NY, ME, NJ, etc.
An individual/small group health insurance broker is very rare to non-existent.
As Winter has eloquently posted many times, the answer to this question can be found in the states that already have a GI and/or "exchange"-type environment; MA, NY, ME, NJ, etc.
An individual/small group health insurance broker is very rare to non-existent.
- 14,808
Re: Agent Comp To Change.......
I wonder how fast I can get quality rib eye and Cheese Whiz for my cheese steak joint.
I wonder how fast I can get quality rib eye and Cheese Whiz for my cheese steak joint.
- 8,707
Re: Agent Comp To Change.......
At least in Maine the individual part is add on no one can get an appointment to sell only individual...Anthem in Maine requires $1 million in premium to become and agent and based on the fact there is almost no individual sales these numbers come from large group and some small group.
At least in Maine the individual part is add on no one can get an appointment to sell only individual...Anthem in Maine requires $1 million in premium to become and agent and based on the fact there is almost no individual sales these numbers come from large group and some small group.
- 15,319
Re: Agent Comp To Change.......
John:
What happened to your belief that agents will still have a place selling health insurance in the future?
Are you now as pessimistic as the rest of us?
Rick
John:
What happened to your belief that agents will still have a place selling health insurance in the future?
Are you now as pessimistic as the rest of us?
Rick
- 14,808
Re: Agent Comp To Change.......
I'm a realist. This is how I see it playing out. Comp cuts are coming and when they hit a significant percentage of health insurance agents will throw in the towel.
However, that also means less competition for those who stay. I know many agents in MD who have made a great living only selling Carefirst at basically $240 flat per app.
Those same agents have to compete against (what they call) "the commission whores" selling GR and Assurant in MD for 20%+.
"I" will be selling health insurance until I can't. Others will dive out if they can't get that 20% weekly advanced comp. That only helps me.
I'm a realist. This is how I see it playing out. Comp cuts are coming and when they hit a significant percentage of health insurance agents will throw in the towel.
However, that also means less competition for those who stay. I know many agents in MD who have made a great living only selling Carefirst at basically $240 flat per app.
Those same agents have to compete against (what they call) "the commission whores" selling GR and Assurant in MD for 20%+.
"I" will be selling health insurance until I can't. Others will dive out if they can't get that 20% weekly advanced comp. That only helps me.
