Get Ready For New Plans

[CHUMPS FROM OXFORD]

Chumps you still talking trash.

The individual market is about to explode!

Do you want make a bet?

Sure. But I hope you're right.

 

[ABC]

Sure. But I hope you're right.

Yeah, me too

Well if I am wrong, then you and I should go into the moonshine business. At least everyone is happy when you sell them that product!

 

[Ann H]

No one is talking commissions yet. That's bad news. It means we are an afterthought. Afterthoughts get s***. They are going to try to do it without us.

This has been a massive waiting game, because of the rules and regs that the govt needed to issue before carriers even knew what products and rates they would offer, and what states they may want to market in. The carriers will have those decisions made shortly.

LTCFocus, I certainly understand your pessimism on the subject. And pessimism is not a bad word in this context. It just means that you've evaluated the situation for your own career, and you see it as a dead end. That's a valid analysis for your situation, and many other agents have made the same asessment for their careers.

But there are agents who have the solid book, the referrals, the assets & income to weather the transition, and come out on the winning side. The only 2 additional factors needed to engage in this opportunity is preparation/education and commission. We are hearing leaked information about the commission schedules, and we will hear more in the coming months.

And our book won't necessarily implode immediately. I just posted to the health care reform forum that Humana announced early renewals for groups, so that the provisions of PPACA won't hit their group until the first renewal on or following 1/1/2014. This means that our book won't implode on 12/31/2013, and it also means our selling season is now year-long not just open enrollment.

It also means that clearly Humana is still a player. We will hear a lot more about these things now that the carriers have a more solid idea of what HHS requires.

I understand if this is not attractive to you. But it is very attractive to some of us. I, for instance, have a very solid book, including grandfathered groups and a few grandfathered IFPs. I figure that my efforts to assist all my clients will still result in my loss of up to 50% of the employees of my groups, and even a few of my IFP clients. Yet I will still come out well. I have thousands of email addresses of referrals and prior prospects, and I can do a volume of business large enough to make this one of my career's greatest opportunities. Heck, if nothing else, there is sales volume enough just by enrolling all those people at 133% to 200% of FPL who get very rich premium subsidies and cost-sharing subsidies. I could hand out flyers at Wal-mart and target that demographic! LOL. And, I'm age 54. With 3 more years of good income, I can retire early. I'm in. And I'm not anywhere near ignorant about the situation. I know this industry and PPACA's rules as well as anyone else on this board. I've been in this business 32 years and weathered more than one "career changing" storm. So, please understand that those of us who have chosen to stay are not stupid and ill informed. We just see an opportunity that we are positioned to grab with gusto, whereas many other agents see an opportunity that they are not positioned to engage in.

 

[ABC]

ABC, be serious explode in what way? I want your real opinion.

Ok, I have been writing small group biz for over 14 years. I have worked with every start up industry, every Mom & Pop, Every type of small group and they all going to drop group health coverage by 2016. There will be a flood of people to buy policies inside and outside the exchange.

Really the only reason most of these group provide benefits is for guaranteed issue.

It is my prediction that blue collar companies between 50-300 will end up dropping coverage and taxing the tax penalty.

So the pool of people looking for individual policies is about to explode. Now it is going to depend how the broker is positioning themselves in the market.

 

[HealthGuy]

So the pool of people looking for individual policies is about to explode. Now it is going to depend how the broker is positioning themselves in the market.

ABC I feel like an Obamacare hooker jus waiting around to see what the pimps will pay me for bending over. Anybody else feel like a whore waiting around to see what the Queen Seb. will pay us? Will they or won't they fairly compensate us...what a joke. This career is getting to me. You truly can't know how to position your business in this market. Again its like a hooker just waiting around on the street corner waiting for a deal. Total joke.

 

[ABC]

ABC I feel like an Obamacare hooker jus waiting around to see what the pimps will pay me for bending over. Anybody else feel like a whore waiting around to see what the Queen Seb. will pay us? Will they or won't they fairly compensate us...what a joke. This career is getting to me. You truly can't know how to position your business in this market. Again its like a hooker just waiting around on the street corner waiting for a deal. Total joke.

That is one way to look at it. I have been trying to be pro active with my game plans and approaches. I have also stayed in contact with the 4 carriers, 3 of them being national. I have kept my marketing up and my knowledge. The meetings I am having, I show that am here for the duration.

I give myself a 50/50 chance of getting large next year. If I hit, I could see myself putting 7,500 people inside and out side the exchange. That is enrolling about 30 people a day. This sh$t is not consuming my life, so I can only eek out a living.

 

[stuy119]

I give myself a 50/50 chance of getting large next year. If I hit, I could see myself putting 7,500 people inside and out side the exchange. That is enrolling about 30 people a day. This sh is not consuming my life, so I can only eek out a living.

To ask a stupid question, how are you going to take 30 apps daily when we may not be allowed to put our business through online? Not bashing, but legitimately curious. Without an online identifier, I'm not aware of how I'll be able to accomplish that.

And it doesn't appear, as of yet, that online apps will be supported inside the exchange.

 

[ABC]

To ask a stupid question, how are you going to take 30 apps daily when we may not be allowed to put our business through online? Not bashing, but legitimately curious. Without an online identifier, I'm not aware of how I'll be able to accomplish that.

And it doesn't appear, as of yet, that online apps will be supported inside the exchange.

I am not trying to bash either, but I have no idea what you are talking about. You are the very first to state that producers can't write business online

 

[stuy119]

I am not trying to bash either, but I have no idea what you are talking about. You are the very first to state that producers can't write business online

Just what I've heard, nothing definitive at this point. When I say "writing business online," I'm referring to a direct link to an application site from our website. I'm not referring to being able to submit business via the exchange (or not) online, but that it would require a specific broker ID being included.

Or at least that's how I understand it currently. Again, as with all of the reform stuff, it's subject to change depending upon how HHS feels any given day.

 

[ABC]

Just what I've heard, nothing definitive at this point. When I say "writing business online," I'm referring to a direct link to an application site from our website. I'm not referring to being able to submit business via the exchange (or not) online, but that it would require a specific broker ID being included.

Or at least that's how I understand it currently. Again, as with all of the reform stuff, it's subject to change depending upon how HHS feels any given day.

Do you have a source for this information?