Exchanges and Agent Commissions

[ABC]

Below 400% FLP it's all subsidized so it'll actually be cheaper, not more expensive than it is now.

I thought they were still debating this issue of subsidy or tax credit?

Do you have a source?

I think the exchange will be A market not The market. Hey you pay me 5% on the exchange plans and I very happy with that.
In my state it would be a per policy comp. So we might make $26 a month per policy. If that is the case I will sell a 1000 policies in a year.

Each state is going to be different. Mass. right now has the highest premium in the country. 27% higher than the avg.
That state is about to implode.

 

[Yagents]

From what I've read, and what I'm sure will transpire, is that the exchange commission will be based on the NON subsidized portion. This of course will give you the incentive to over serve the higher income and vice versa. But they don't and won't "get it".

 

[HealthGuy]

STUY119: You bring up a great point, never thought of it...Yea, what about all of the Joe sixpacks that now say FYOU to their employers because they can now go out and get health benefits on their own, or already have them on their own? Liberating, or a drag on the economy? Is this another unintended consequence: Good or bad side of the Obamacare mess?

 

[stuy119]

STUY119: You bring up a great point, never thought of it...Yea, what about all of the Joe sixpacks that now say FYOU to their employers because they can now go out and get health benefits on their own, or already have them on their own? Liberating, or a drag on the economy? Is this another unintended consequence: Good or bad side of the Obamacare mess?

I was more thinking of the guy who decides not to buy insurance, then gets hurt over the weekend, but waits until he shows up at work on Monday and wants to claim Work Comp. But both work, because EE's who get their own insurance don't know it well enough compared to the ER sponsored plans, and just buy based upon cost.

 

[ins.dave]

I can't get over how speculative some of you guys are.
"Will it be 5%, will agents be on the exchange ..."
Quizzical how after all the media has reported so far that anyone is still holding out hope that this farce is going to leave the runway ... please.
Wonder if I can get a job with the exchange? Pathetic.
There's not going to be any exchange. If there was, it would be there in name only. There won't be a whole lot of additional changes. Let them crow about all of their improvements ...?
When did this Obamacare crucible begin? Like 06/2010? In that time would it not be realistic to say that a national health program and that's what were really talking about looks more or less likely to go down? What a joke.

 

[CHUMPS FROM OXFORD]

You are right. There will be no role for brokers. If you are selling individual health insurance...get out now! Hurry! Listen up...All health insurance brokers...abandon ship NOW!!!

 

[aheff]

No one knows how Obamacrap is going to play out. It could go from the two extremes, nationalized healthcare to market driven to somewhere in between. There are so many moving pieces to the puzzle. My crystal ball tells me health care will be determined on the state level, with limited federal involvement. Each state will design its own plan of attack. Exchanges? Role for agent?

 

[sman]

Below 400% FLP it's all subsidized so it'll actually be cheaper, not more expensive than it is now.

It's not ALL subsidized. For example, a family of 4 earning $80k (342% FPL) in a medium cost region will get approximately 47% of the premium subsidized. The estimated premium they would still have to pay is $7,600 per year (or $633.33 per month). Here in Georgia this family of 4 could get a decent plan for less than $633 per month (assuming they are healthy of course).

 

[ins.dave]

You are right. There will be no role for brokers. If you are selling individual health insurance...get out now! Hurry! Listen up...All health insurance brokers...abandon ship NOW!!!

I don't know how you can infer that this is what I am suggesting?
I'm saying that there will be no national health plan(s) visa vie an "exchange" program or elsewhere.

 

[CHUMPS FROM OXFORD]

Dave...I'm just suggesting that anybody that concentrates on individual health insurance sales should stop, re-tool and focus on another line of business...and do it quick!

If individual health markets remain, then it will be even better.