Agent's Role in the Exchanges

[scagnt83]

Here's what you've left out of the equation...

The vast majority of my clients are small business owners that have neither the time nor inclination to do the research necessary to assure this - they are extremely busy running their business!

They are used to working with advisors that they trust. When I contact them to make a suggestion/recommendation, almost universally they say, "if you think it's in my best interest, go ahead."

This kind of trust is only built over time.

I'm not sure that the carriers can "develop marketing techniques" that match it.

I agree.
I concede that it would be possible to eliminate the agent for individual sales (although it would negatively impact the client), but it would be impossible to do so for group sales.

Some type of agent interaction will always be necessary for group sales.
The real question is will employers decide to actually keep group coverage... lol

 

[Central Coast Agent]

On the supplemental issue, I've been researching this also. I did an interesting thing last week that really made me feel better about options with ancillary products and voluntary benefits as a backup to Health Insurance-should the worst case scenario become reality..i.e., no market for the small group/individual agent.

I looked at one of the voluntary benefit company's websites and found on their broker page the list of their award trip winners for last year. I decided to call a couple of them and see how they were doing.

After a couple of calls, I got a veteran agent that just sells VB. Great guy. Sold $285,000 in premium at 50% commission last year, so six figures in commission on VB alone. Mind you, he is not telling me production numbers..this is on the carrier's list of annual trip award winners.

Group health is ancillary for him. Telemarkets like a mad man, has a couple of non agents in the office setting appointments for him.

Solo guy, like me. I was thrilled. Took the weight I was feeling the last couple of months off my shoulders.

Like John P, I'll continue selling health until I can't. Then or when I see things starting to turn, I'll either augment my Health with something else, or start to really focus on switching gears to VB or a combination of VB, DI, LI.

Its all you can really do...but till then, gotta say, the last couple of months in Health have been pretty good. I've decided to kind of just focus on that till carriers react to MLR's in Q4 and not worry about it...there is business out there.

But when and if the time comes, there ARE options out there. Its just a matter of not being so stuck on what you are doing right now that you can't switch gears...you sure have enough warning signs to at least start gearing up for a switch...no?

 

[insurehound]

Health insurance agents will soon go the way of the Dinosaurs.. Fresh from the NAIC's web site.

What are "Exchanges"? Can I still purchase coverage through my agent?
[FONT='Times New Roman','serif']Exchanges are the central mechanisms created by the health reform bill to help individuals and small businesses purchase health insurance coverage. Beginning in 2014, an Exchange will be established in each state to help consumers make valid comparisons between plans that are certified to have met benchmarks for quality and affordability. The Exchanges will also administer the new health insurance subsidies and facilitate enrollment in private health insurance, Medicaid and the Children's Health Insurance Program (CHIP). Nobody will be required to purchase health insurance through the Exchange, though subsidies will only be available for plans sold through the Exchange. If you would rather buy your insurance through an insurance agent or broker, you will be free to do so. If not, you will be able to purchase insurance in a matter of minutes on the Exchange's Web site.
[/font]

So none of the goberment entitlement money will be available outside of the exchange? Wow! Yeah, that's good news for us agents. "You can buy with the help of goberment's money behind door number one or you can buy from that greedy agent behind door number two"...which do you think will be utilized and pushed?
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...and why are we so sure that this Bill can't be "undone"? Last time I checked, what can be done can be undone.

What deal has the insurance industry struck with the goberment? I do have an idea:

1.) Insurance carriers will not be able to fund the new entitlement program a.k.a Health Care Bill
2.) Goberment will step in and say, "see?" "we told you so, those evil, greedy insurance companies were screwing you all along."
3.) Goberment will come in and "save" all of us from those evil, greedy insurance companies and take over"
4.) We will be left with single-payor and the insurance companies will be left administrating the new Goberment, single-payor system.
5.) We, the agent, will be enrolling people into the single-payor system for $10 an application and selling "mini" plans for a few bucks.

...and what deal have GAs struck with the carriers and goberment?

The good news is that we will find out soon enough. So glad I sell multiple lines of insurance and have very low overhead

 

[Cornelius]

Here's a new magazine I ran across.

HealthCare Reform Magazine

 

[bill3173]

Ya'll are stressing over nothing. Health Agents selling invidual plans aren't going anywhere. Most of the people that are going to benefit from the health bill weren't your customers anyway.

 

[ksigmtsu]

Ya'll are stressing over nothing. Health Agents selling invidual plans aren't going anywhere. Most of the people that are going to benefit from the health bill weren't your customers anyway.

Where I live, 95% of people basically qualify for the subsidy. If the subsidy isn't going to be available outside the exchange, the government is working to eliminate agents.

 

[hamben]

The NAIC quickly acknowledged my email, and I commend them for that. They indicated they would "clarify the language" in the last sentence.

They did just that (see below) although I'm still not 100% satisfied with the wording. But it's a start...and again, I give them credit for acting so promptly.

SPECIAL SECTION: Health Insurance Reform

This still looks bad to me.

SPECIAL SECTION: Health Insurance Reform


What are "Exchanges"? Can I still purchase coverage through my agent?
Exchanges are the central mechanisms created by the health reform bill to help individuals and small businesses purchase health insurance coverage. Beginning in 2014, an Exchange will be established in each state to help consumers make valid comparisons between plans that are certified to have met benchmarks for quality and affordability. The Exchanges will also administer the new health insurance subsidies and facilitate enrollment in private health insurance, Medicaid and the Children's Health Insurance Program (CHIP). Nobody will be required to purchase health insurance through the Exchange, though subsidies will only be available for plans sold through the Exchange. If you would rather buy your insurance through an insurance agent or broker, you will be free to do so. However, the law's intent is to make purchasing insurance on the Exchange's website easy to do in a matter of minutes.

 

[CHUMPS FROM OXFORD]

"This still looks bad to me."

Maybe all of us should email them. Act now.

 

[0b1kanobee]

"This still looks bad to me."

Maybe all of us should email them. Act now.

Email who?

 

[ksigmtsu]

We could all load all of congress into a dialer and 3 line call them all day long for a day. Would seem like there were a million of us.
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We have the technology to harass the living **** out of people. We should use it on congress.