HCSC Going to 0% Commissions

Feb 23, 2016

  1. jlee
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    jlee New Member

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    BCBSOK to Eliminate Producer Commissions for NEW Under 65 Medical Policies with Effective Dates On or After April 1


    At Blue Cross and Blue Shield of Oklahoma (BCBSOK), we are committed to expanding access to quality health care to as many people as possible in Oklahoma through the retail market, and have been “all-in” since the inception of the Affordable Care Act (ACA). However, as the individual market evolves, we, in turn, need to make changes to the way we operate in order to continue offering sustainable health plan options to our members.
    BCBSOK will eliminate producer commissions for new sales of individual ACA plans effective April 1, 2016.
    This commission change does not affect in force under 65 individual major medical renewal policies, retail ancillary products, or new or renewal sales in the group market or in the Medicare market.
    We value our producer relationships and they continue to be vital to our business. As always, we assess and evaluate our commission structure on an ongoing basis and will make adjustments as appropriate. We plan to re-evaluate producer commissions for the sale of new individual under 65 major medical policies with Jan. 1, 2017, effective dates. As we approach the next open enrollment period, we will update our producers on commission rates.
    "
     
    jlee, Feb 23, 2016
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  2. vic120
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    vic120 Guru

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    seems like no ins carrier wants ACA buis.Yet every time I turn on the news, They say these Ins companies are full of baloney trying too fool everyone because really they are making a killing off ACA.

    What happened to the news?
     
    vic120, Feb 24, 2016
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  3. AllenChicago
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    AllenChicago Guru

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    The "news" is run by people who have forgotten how to be news people. If they did a little more investigating they'd learn that the big profits related to the Affordable Care Act are from the Medicaid Expansion. National carriers like UHC and AETNA earned big profits, along with those that specialize in Medicaid, like Centene corporation.

    There's an article about this posted in the Healthcare Reform section. Interestingly, carriers say that their Medicaid pool are lower-risk than their Obamacare Exchange pool of customers.
     
  4. AboutThatLife
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    AboutThatLife Guru

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    No one can be fooled by any of this. The insurance companies had the ACA modified to suit THEIR needs. Whatever is happening is what they wanted to happen.

    They are making more money than they ever made. What benefits come to them from being on the exchange?
     
  5. AgentStone
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    AgentStone Super Genius

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    Given -0- commissions:

    -are you still writing ACA products?
    -selling Short Term?
    -or sending client to direct to carrier?
     
  6. kgmom219
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    kgmom219 What's Next?

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    It depends :)

    ACA, but they have to meet both of these criteria:
    1. Long term client (not in between jobs), that I will be speaking with in Nov
    2. From an "important" referral source

    STM if that's all they qualify for (and I don't want to have the argument about STM again)

    If its in the grey area, I send them to the FFM and ask if I can follow up with them in Oct for Open Enrollment
     
    Last edited: Feb 27, 2016
    kgmom219, Feb 27, 2016
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