Commission Cuts Effective January 2010?

[somarco]

The small group market is going to be huge.

How so?

I used to agree with this, but have changed my mind.

If you think for one second the health insurance industry is not going to make money you are clueless!

If they can't they won't play.

Between loss ratio's and rate caps if they are squeezed enough they will pull up stakes and leave.

 

[Justin Bilyj]

Or become hmos!

 

[nolaagent]

How so?

I used to agree with this, but have changed my mind.



If they can't they won't play.

Between loss ratio's and rate caps if they are squeezed enough they will pull up stakes and leave.

Agree with somarco...small groups will dissolve into the individual market. And if the carriers can make money the will play, if they can't they'llpack up their toys and go home.

 

[HealthGuy]

TXInsurance (Joe): Again no offense, but you talk like you have a pipeline to the health insurance gods. Who specifically did you hear your compensation information from? Don't be so obscure.

 

[somarco]

small groups will dissolve into the individual market

Possibly . . .

This assumes there is an individual market left. We are entering uncharted waters with potentially even more regulation than currently exists in GI states.

If Obamacare is allowed to go forward in its' present state the entire health care industry (including the provider side) will go topsy turvy.

 

[TXINSURANCE]

HealthGuy until it is in writing it is all speculation. I like you have to make calculated assumptions based on the data of the day. Could change daily. Who knows.

At this point no one knows the final details but you can assume some items as fact ( I.e comp in general going down on the major medical portion).

There will be some creative math and ways to offset some or all of these cuts. It's insurance after all - isn't it all about creative math formulas? Lol.

Give it a few months we will have solid answers.

 

[Crabcake Johnny]

Also, the initial comp doesn't mean it'll be the final comp. Carriers might have to get creative with their comp system until they maximize their results.

 

[GreenSky]

Yeah, everything is just rosey. We'll all be rolling in the dough shortly.

I can't decide if it's people engaging in wishful thinking, or they're just delusional.

This industry is winding down and no matter how many people post "I heard from a company..." or "they need us", or "there will be a place of agents," won't change a thing. We're on our way out.

Rick

 

[wildcat]

I believe the larger companies will still have money to spend for comp, although not like we currently see. Agent comp may be tiered; 0-10 app/month equals 5% comp, 10-20 = 8%, 20 & up = 15% etc. Something like that. I think carriers would like to reward the higher producing agents.

Or it could be bonus $$ on top of your monthly production. Either way I think some carriers will find $$ to offer the higher producers.

 

[0b1kanobee]

Here's what I was told yesterday:

"Agent's compensation will be between 5% and 7.5% for the first year, followed by a flat 4% renewal. Anything outside the exchange will receive 10% the first year and 5% for the next seven years. ALL carriers will use the same numbers."

Are you trying to be funny again LOL.

If not, tell us what you here tomorrow and the next day and the next day.................