Agent Compensation To Change

[HealthGuy]

Re: Agent Comp To Change.......

John: Worst case scenario: What if the app fee is a flat $100 or even $50? Serious question. Worth your time filling out a 50 page IRS form so your client can take the IRS penalty and maybe buy an accident or critical illness plan from you? Seriously, doing 4 aps a day like this? Call this a living and a career? I'm trying to take my tinfoil hat off, but seriously guys I don't see daylight selling mini meds and accident plans to those who can't afford the GI exchange plans, which will be probably everyone. And why would the gov't allow plans outside the exchange, that defeats the purpose of the exchanges in the first place...Outside the exchange would be just like our market today. I don't see the gov't allowing that. Am I wrong?

 

[Crabcake Johnny]

Re: Agent Comp To Change.......

This is where I don't get hysterical. "What if" is useless and a waste of time. I will write health insurance until I can't. I won't know that I "can't" until that time comes. In the mean time, savvy agents will have a plan B.

 

[CHUMPS FROM OXFORD]

Re: Agent Comp To Change.......

Outside Exchange plans will be available.

 

[bill3173]

Re: Agent Comp To Change.......

They're not going to do away with commissions and go to a flat fee per app.

They're going to be competing Nationally. It's not going to be like MA, ME and the others.

 

[moonlightandmargaritas]

Re: Agent Comp To Change.......

They're not going to do away with commissions and go to a flat fee per app. They're going to be competing Nationally. It's not going to be like MA, ME and the others.

Lemme contact Goldman to see how I can get "the big short" on that!

 

[TXINSURANCE]

Re: Agent Comp To Change.......

There isn't one majore carrier I am in contact with that is considering going from percentage to flat fee pre 2014. Not one.

I am on the phone daily about mlr and the future of IFP and yes commissions are dropping. The question is how much. The other question is what can be offset by higher premiums and ancillary. Let's not also forget far fewer agents will be in the post 2011 market, which means less competition.

Don't get me wrong there are a couple of wild cards and worst case scenerios that look pretty grim. On the flip side the pre 2014 market will need distribution channels one way or the other.

This picture will be very clear within two months at most. Sit tight.

 

[JosephDeacon]

Re: Agent Comp To Change.......

TX - I am hearing the same thing, nobody is talking about going to a flat fee per app. Where is the WSJ obtaining this info?

I am about to cal NAHU and see who I can speak with.

 

[Crabcake Johnny]

Re: Agent Comp To Change.......

I haven't been around all that long; 2003. When I got in you could fit all the individual health agents in MD in the same phone booth. Now they're falling out of the trees.

But when I got it in was paper apps only, no carrier in MD offered direct deposit and comp was monthly.

From getting a lead to getting a check was about 2 months. Since the birth of online apps and weekly advanced comp this industry has turned into a whore house.

 

[YouGotMyMoney]

Re: Agent Comp To Change.......

Since the birth of online apps and weekly advanced comp this industry has turned into a whore house.

And who are the Madam's, the MGA's?

 

[Crabcake Johnny]

Re: Agent Comp To Change.......

It actually hasn't played out well for the MGAs. They mainly end up with broke "direction-less" agents with little to no real internal drive wasting their time.

Then they get to play with the "used car salesmen" agents who write a bunch of junk and leave town when the chargebacks start coming.

The more stable MGAs will welcome a change where they don't have to deal with agents who need to make "$1,600" next week yet have $128.35 left on their Visa.