Effect of the Reform on Insurance As a Career

[mousidd]

Just wondering what your thoughts are about how the reform is going to effect the insurance industry as a career. Will the insurance agents still be able to compete and find business if the public healthcare bill is passed? If yes, please explain.

 

[somarco]

No . . . one . . . knows . . . yet . . .

 

[ins.dave]

Just wondering what your thoughts are about how the reform is going to effect the insurance industry as a career. Will the insurance agents still be able to compete and find business if the public healthcare bill is passed? If yes, please explain.

Gee whiz mouse, I'd say right about now, it's kinda f'n things up no? "The public healthcare bill ..."
Which part of it!
Please clarify!
Which bill!?!
Cryogenic mode bro. Frozen ... capiche? Agents are not marketing(investing) ... people are not applying.
Nobody knows jack. Especially your illustious Pres.
At least all this uncertainty helps the economy correct itself?
What a question ...

 

[Crabcake Johnny]

Here are a few facts;

Both the House and Senate Bills state agents can sell both in and out of the exchange and both bills state that carriers can sell plans in and out of the exchange.

The Senate version has a provision stating that states "may" set commission levels but only for plans sold in the exchange.

Both bill have bronze, silver, gold and platinum level plans in the exchange with the only difference being the level of cost sharing; 60%, 70%, 80% and 90% respectively.

It's very interesting to note that neither bill addresses "excepted coverage" that carriers can offer outside the exchange. That oddly coincides with the complete lack of squawking from any of the carriers since, IMHO, the back-room deals have already been made.

Commissions on plans sold inside the exchange will be relatively low however agents still have some work to do - in the Senate bill agents help people apply for coverage and tax credits. My guess? Around the 7% level or some flat fee - maybe $300? Guessing.

Plans sold outside the exchange? Probably business as usual. However, no bill addresses whether or not plans sold outside the exchange would be "creditable coverage." If not your client might have to pay the penalty.

Time will tell.

 

[ins.dave]

Here are a few facts;

Both the House and Senate Bills state agents can sell both in and out of the exchange and both bills state that carriers can sell plans in and out of the exchange.

The Senate version has a provision stating that states "may" set commission levels but only for plans sold in the exchange.

Both bill have bronze, silver, gold and platinum level plans in the exchange with the only difference being the level of cost sharing; 60%, 70%, 80% and 90% respectively.

It's very interesting to note that neither bill addresses "excepted coverage" that carriers can offer outside the exchange. That oddly coincides with the complete lack of squawking from any of the carriers since, IMHO, the back-room deals have already been made.

Commissions on plans sold inside the exchange will be relatively low however agents still have some work to do - in the Senate bill agents help people apply for coverage and tax credits. My guess? Around the 7% level or some flat fee - maybe $300? Guessing.

Plans sold outside the exchange? Probably business as usual. However, no bill addresses whether or not plans sold outside the exchange would be "creditable coverage." If not your client might have to pay the penalty.

Time will tell.

Absolute madness.
"Exchange." What total b*llsh*t.
All this back and forth. Every possible type of plan is offered in the market now. So, what can an "exchange" or p. option do besides try to outprice private plans by way of cost or subsidy? i woudn't be to worried about what commission percentage would be available cause it will be 0%.
Private carriers won't be able to sell plans at twice the price that they are now. Period. What's left? P. option or call it exchange or call it Universal healthcare or call it Barry's table scraps ... Call it whatever you want. The govt. starts offering product that is GI ... its game over.
Then it goes back to "will there be mandates? ... will undocumenteds be given work visas and also be mandated? ... will there be tort reform? ...will Jon and Kate get back together?"
Round and round and back and forth until the Black Jesus gets crucified. He can't play dodgeball forever. I got my popcorn ready.

 

[Crabcake Johnny]

Actually you have it backwards - the CBO estimates the public option premiums will be higher than private carriers.

 

[ins.dave]

Actually you have it backwards - the CBO estimates the public option premiums will be higher than private carriers.

In terms of premium or what matters? Total cost to the consumer?

 

[somarco]

The CBO only prices what Congress tells them to. They even put in a disclaimer in a recent report.

According to the Congressional Budget Office, the Reid Bill as written would spend less than $900 billion over the next ten years. But the CBO is only allowed to score what Congress says it will do, not what everybody knows it actually will do. So the CBO warns: "These longer-term calculations assume that the provisions are enacted and remain unchanged throughout the next two decades which is often not the case for major legislation … The long-term budgetary impact could be quite different if key provisions of the bill were ultimately changed or not fully implemented."