- 1,896
Used to be a graded commission on group (8/4.25/2) and they went to a PEPM (30 EE only/60 for EE+). Individual was 15% first year/7% after (now is 10% first year and some follow up).
Blue Cross Blue Shield Just Blinked...
- Thread starter taterpeeler
- Start date
Used to be a graded commission on group (8/4.25/2) and they went to a PEPM (30 EE only/60 for EE+). Individual was 15% first year/7% after (now is 10% first year and some follow up).
- 8,448
Sam, according to this article from June, HCSC/BCBS-IL is generating so much profit that they might have to refund $$$ to policyholders in 2012. (MLR)
Blue Cross profits surge | In Other News | Crain's Chicago Business
If HCSC needs to lower its' profits, would they cut our commissions even further than they are now? IMO, they would either 1) Reduce Premiums or 2) Refund Premiums or 3) Give Agents a Raise...or a combination of these.
The way PeelerInsurance used the word "Blink" indicates to me that he's alluding to a possible increase in commissions for HCSC's BCBS of Texas. (Fingers Crossed)
It astounds me that even under the crush of new rules and regulations mandated by Obamacare, any of these companies can earn near-record profits as the article says they are. Every monthly newsletter from BCBS-IL since April 2010 describes some new measure that the company is taking to comply with a new rule or mandate. With just the state level mandates, BCBS-IL had to revamp their entire application this year and also re-program everything to allow same-sex Applicant/Co-Applicant.
-Allen
It's not that difficult if you realize what carriers have done in response to Obamneycrap and MLR.
- reduced commissions
- laid off support staff including CSR's
- streamlined underwriting
- eliminated child only policies
- raised rates dramatically on children under age 19
- eliminated maternity benefits
- raised premiums
- tightened underwriting to avoid taking high risk applicants
- eliminated riders for pre-ex conditions
- closed and consolidated internal operations
- acquired health care operations not subject to MLR
I probably missed a few but, like killing all the lawyers, this is a start.
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Ha! One of the 1% we have been hearing so much about these days. Makes me want to camp out in downtown ATL, almost.
- Thread starter
- #17
after they blinked... they misled.... truth was in the letter....
- 15,041
So what is the truth?
- 8,448
Yep..but it appears that some of them cut back too much, cause they'll have to refund $$$ to their customers next year. Didn't someone say that Blue Cross of California has to refund millions of dollars?
So what's going on with the subject that started this thread, Blue Cross "blinking"? Any updates?
-ac
- Thread starter
- #20
They told me they had an easy bonus for the top 100 agents but after the letter came the qualifier was monthly... Not one time... Makes the bonus a Carot on a stick with a drunk monkey holding the stick
