I can see it now......"Oh, Mr Client, buy this STM for 1 yr, and you can get Obamacare on the exchange next yr with pick of the litter and subsidies.....oh my".
I may not be reading this correctly, but as I dig into this schedule a bit more, 2 things catch my eye:
Dental as a rider on the medical plan - you get 15% / 5% But Standalone dental - you get 12% / 12% forever. It might make sense to write dental separately going forward. Especially if you're rolling the medical policy over every couple years. Plus, dental policies won't be in the exchange.
For those in AZ, it looks like they will start paying on guarantee issue policies in our state. On the interim schedule, it shows 0%, but on the post 1/1/11 schedule, AZ has been removed as an exception. Good news vs having to turn them away.
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Can anybody confirm that existing GR biz, written pre 7/1/10 will continue to get 5% renewals????....forever?
I don't see anything about past business on the books
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I just calculated how much future revenues I'm going to lose on GR biz that I did between July 1st and Dec 31st. I'll be getting about $7500 less than I expected in future months (vs. full commish rates).
Even with their warning back in July of unknown reduced commissions, this still really sucks, and it's starting to sink in.