Agents and Exchanges

[Cornelius]

I didn't see anything about commissions unless I missed something.
PPACA: The NAIC Loves Agents - Regulatory,Legislative and Tax Issues - Life and Health Insurance News

 

[CHUMPS FROM OXFORD]

Re: Agents and Exchanges.

True...but otherwise positive article.

 

[jbage007]

Re: Agents and Exchanges.

I didn't see anything about commissions unless I missed something.
PPACA: The NAIC Loves Agents - Regulatory,Legislative and Tax Issues - Life and Health Insurance News

You missed it. If you had clicked the link to the internal story, you'd find this gem:

Timothy Stoltzfus Jost, a law professor who identifies himself as a consumer advocate, said exchanges will use nonprofit "navigators" to advise consumers.

Navigators could include entities trusted by individuals and employers, including "trade, industry and professional associations, commercial fishing industry organizations, ranching and farming organizations, community and consumer-focused nonprofit groups, chambers of commerce, unions, and resource partners of the Small Business Administration," Stoltzfus said, according to a written version of his testimony.

Insurance agents and brokers could be navigators, but "they may not receive any direct or indirect consideration from an insurer for the enrollment of an individual or employer," Stoltzfus said.

"Financing for the navigators is expected to be part of the ongoing operating costs of the exchanges," Stoltzfus said.

 

[insurehound]

Re: Agents and Exchanges.

So that means the Goberment will pay us? I feel better now.
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The Government: Putting health insurance agents out of work since 2014

 

[stuy119]

Re: Agents and Exchanges.

Actually, if government pensions are part of the pay/benefits, I'm not sure it's a bad deal.

 

[CHUMPS FROM OXFORD]

Re: Agents and Exchanges.

Timothy is off his rocker.

 

[jmilber]

No... you guys have it all wrong.

They will not pay comissions to agents who work as NAVIGATORS-- Navigators will be paid salary or hourly and that will be their job. Navigators are a provision in the new legislation and this article is saying not to waste too much government resources paying these navigators so Agents can have a bigger role. They want to make sure navigators dont receive a piece of the pie from the carriers, and arent influenced to support one carrier more than the next.

The article says they want to preserve agents compensation--

'AIC members resolved. "It is important for federal policymakers to acknowledge the critical role of producers and to establish standards for the exchanges so that insurance professionals will continue to be adequately compensated for the services they provide.'

This is a very good article... not sure what you guys are interpreting it as. Its saying they will not give navigators commissions and preserve that for the agents who are more qualified. If we are lucky, navigators will be like shitty sales department all our carriers currently have (Ever hear from a client who called the carrier directly before talking with you, and all the bogus information they were given and the illogical plan choice they were offered?)

 

[jbage007]

Yeah, I actually envision these navigators to be the functional equivalent of home office sales departments I compete against every day.

That being said, there seems to be virtually ZERO chance that agents will be able to make any money by selling plans inside the Exchange(s).

If I'm wrong, I'm all ears -- correct me.

 

[CHUMPS FROM OXFORD]

I think we will make money. It's just a matter of how much. If, as brokers, we have the capability to provide the vehicle that allows prospects to sign up for coverage, we will make money.

And those in-house sales departments are pesky, but they are not huge threats.

 

[jbage007]

People are going to have the "capability to provide the vehicle" to sign up for coverage at their fingertips. It's called the internet.

Nobody has been more optimistic than me about this from the get-go, but I am slowly but surely coming around to the reality of it all.