Getting Back into Individual Health...thoughts??

[CT Insure Guy]

I have been a broker in primarily CT for a few years (spent many years selling insurance prior to going independent as well) but with a divorce and some family issues, I have been out of the loop for essentially a year and a half (Did over 225 total cases in 2008, did a total of 30 in 2010...yikes). I still retain all my appointments with:

Anthem
Aetna
Assurant Health
Connecticare
Celtic
Cigna
United Healthcare

and I am just wondering about commission changes and how that's affected some of you, especially in CT. I am 10000% ready to work a 50+ hour week at this if it's still viable with all the Health Reform Law changes but if it's honestly become a different market with comm/bonus cuts, I may try and finally finish that novel!!

Any thoughts on the market, plan changes and marketing you're doing to stay in the game would be MUCH appreciated. Thanks in advance!!!

 

[Crabcake Johnny]

Contact me at [email protected] and I'll put you in touch with the one of the best CT health insurance brokers - he'll be more than happy to give you the scoop.

 

[aheff]

"Thoughts?"
Yeah- are you insane?

 

[CT Insure Guy]

"Thoughts?"
Yeah- are you insane?

I have been told that MANY times, yes!!! LOL...

However, I have other sources of part time income so I am wondering if I should still try and make some $$ at this or just throw in the towel for now, etc...thanks!

 

[JE INSURANCE]

Indy health is done, most agents have already quit and the ones left are working 3 times as hard for a 40% cut in pay....rare brokers out there are doing 40+ apps a month (which i dont believe) will maybe make it but most will be back to selling Toyotas

 

[bill3173]

It's not that you can't make $$ doing it, but the future is murky, that along with the commission cuts, and the greater difficulty dealing with Agent and Customer Service has made it more drudgery than anything else.

Good agents are still selling it because they've built up a client base that continues to need assistance with plan changes, additions, referrals, etc. There's no other reason. You're walking into a whole different world now.

 

[ABC]

I got agree with the other posts. The individual business is a dead man walking.

As JE posted you have to write 40 policies a month. I also agree with him that few agents are producing those levels.

Underwriting has gotten very difficult and there is some thought that the major carriers are going to exit the individual market.

 

[aheff]

I would say if you can do some apps without much time or effort, go for it. If there is a decent learning curve, or if you have to devote a fair amount of time to this, I think your time will be much better spent on another market. The future of indy health-cloudy at best, perhaps dead.

 

[Josh]

I think it'd be silly for folks in individual health to get out rather than attempt to adapt, but I think you've lost your mind if you want to get into it now. I'll agree with aheff, if you can get some easy apps then go for it, but there just isn't any money to be made as a scratch agent with large marketing overhead.

 

[YouGotMyMoney]

I think it'd be silly for folks in individual health to get out rather than attempt to adapt, but I think you've lost your mind if you want to get into it now. I'll agree with aheff, if you can get some easy apps then go for it, but there just isn't any money to be made as a scratch agent with large marketing overhead.

Most agents use internet leads at $100-150 to gain a client, with an average annual premium of $3k, that's 33-50% of your comp goes to marketing costs.....next!