Broker's Advocate at White House:

[MaryDallas]

I'm sure you were a terrific captive agent.

But you pointed out UHC, not Humana. You also mentioned Aetna, not Humana.

It's too bad that you like the one part of the industry that is on life support.

Rick

My contracts were direct with the company: now who's talking out of school?
I've noticed 'you guys' like to fight: go fight with someone else. Insurance in general is on life support ... or are you?

 

[somarco]

Somarco, I think HHS Secretary Birdwell is cherry-picking data from certain geographical areas and spinning it to sound as if it's nationwide. In my area, we did have 3 new carriers join the IL hc.gov exchange for 2015.

Something similar here, as long as you just look at who is on the exchange. Only "new" carrier statewide is UHC that sat on the bench for 2014.

Might as well have done the same for 2015.

Other states may have been different, but the same 3 carriers are, as far as I can tell, writing the bulk of the business. BX, Humana and Ambetter (on exchange only and targeting very low income people).

I really didn't bother to count the number of plans and never paid much attention to any co-ops. If there are any operating in GA they are in stealth mode.

Aetna-Coventry, Assurant & Cigna are just showcasing. They won't be back in 2016.

Insurance in general is on life support

Really? How so?

 

[kgmom219]

Medicare supplements don't look so good either: carriers going to 2%; not much better. I'm looking at options.

What carrier in Texas is at 2% on Med Supp???

 

[MaryDallas]

What carrier in Texas is at 2% on Med Supp???

It may be the Advantage plans: I have a friend that only writes Medicare Supplements and Advantage plans. He was telling me some carriers that had gone down to $17 flat and one at 2%. I don't really listen to him that carefully. He is an analytical and expends a lot of time analyzing what's going on the industry and the politics of it all. I give him my over 65 and he gives me his under 65 people. I won't talk about Med Supps anymore because it is not my forte and to me it is ....

I know he discusses a lot the same things we do in health insurance about people calling the insurance companies direct, etc. There are half a dozen agents I know that used to do very well in Med Supp and now are only working insurance part-time and putting other things with it.

 

[Yagents]

A nice succinct article on the value of an ACA agent:

4 Priorities for Insurance Professionals Supporting Public Exchanges

 

[cadylou]

A nice succinct article on the value of an ACA agent: 4 Priorities for Insurance Professionals Supporting Public Exchanges

That's great, and all of that is true--but the carriers don't seem to value those skills in terms of payment.

 

[sman]

It may be the Advantage plans: I have a friend that only writes Medicare Supplements and Advantage plans. He was telling me some carriers that had gone down to $17 flat and one at 2%. I don't really listen to him that carefully. He is an analytical and expends a lot of time analyzing what's going on the industry and the politics of it all. I give him my over 65 and he gives me his under 65 people. I won't talk about Med Supps anymore because it is not my forte and to me it is ....

I know he discusses a lot the same things we do in health insurance about people calling the insurance companies direct, etc. There are half a dozen agents I know that used to do very well in Med Supp and now are only working insurance part-time and putting other things with it.

There is no Med Supp carrier who pays 2% first year commission. As for MA, yes, renewals are currently at $17 PER MONTH. That's more than some carriers pay on ACA plans.

And your last sentence is BS. If you know half a dozen agents who were doing "very well" in Med Supp and now are working part-time then I tend to believe they were never doing "very well" in Med Supp. An agent with 500 Med Supp clients will make somewhere between $125k to $150k just on the Med Supps (and that's on renewals). And when you have that many and you've treated the client right, you get regular referrals.

 

[MaryDallas]

There is no Med Supp carrier who pays 2% first year commission. As for MA, yes, renewals are currently at $17 PER MONTH. That's more than some carriers pay on ACA plans.

And your last sentence is BS. If you know half a dozen agents who were doing "very well" in Med Supp and now are working part-time then I tend to believe they were never doing "very well" in Med Supp. An agent with 500 Med Supp clients will make somewhere between $125k to $150k just on the Med Supps (and that's on renewals). And when you have that many and you've treated the client right, you get regular referrals.

I did ask Steve again about the 2% -- he was actually talking about an ACA carrier going to 2% ... right down there with Assurant's 0%. This is all a house of cards that remains to be seen. If a carrier pays $17/mo. on ACA plans I can promise you none of us will write that carrier. I won't.

 

[somarco]

MaryD you might want to make exit plans. My prediction is BX will be at or near 0% by 2017 and the other carriers won't pay much more.

 

[MaryDallas]

MaryD you might want to make exit plans. My prediction is BX will be at or near 0% by 2017 and the other carriers won't pay much more.

Yes, I am developing a back-up plan. I'm not trusting this scenario. The way the carriers have been so slow to pay the brokers this year is a real eye opener.

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That's great, and all of that is true--but the carriers don't seem to value those skills in terms of payment.

I certainly do not feel valued as a broker. This pokey pay is breaking my back.