Health Insurance Broker information?

Jan 22, 2008

  1. thatdguy
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    thatdguy Expert

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    I am currently selling Life Insurance and very new at it, but have sold a good number of policies in the last 3 weeks. I have had 2 of the 6 people sold ask about health insurance, so was thinking about maybe incorporating that as well. I don't want to sit there and give too many products and options, but if they ask - why not.

    Are there any brokerage institutions that are signed up with multiple companies for/in California? I used to sell Health about 10 years ago, so I am quite familiar with it.

    I don't want too many products to offer, but maybe just 2 companies to work with. Thanks
     
    thatdguy, Jan 22, 2008
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  2. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    is that how you handle your life clients......


     
  3. thatdguy
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    You mean when I search through several different insurance companies prior to meeting with them and have it narrowed down to a couple programs. Yes. Do you sit there and give them 20 options? I hope you offer your clients EVERY SINGLE company out there, because if not you are doing them an injustice. Right? Because that is what some of your people seem to hint at. Don't leave out one company or one option StiBroker!

    Anything constructive to respond with or just jumping on the ass-bandwagon?

    It would be great to actually have people respond that aren't complete jerkoffs.
     
    Last edited: Jan 22, 2008
    thatdguy, Jan 22, 2008
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  4. GreenSky
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    GreenSky Guru

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    My opinion (for what it's worth) is that you need a contract with Blue Cross, Blue Shield and Health Net, including the Farm Bureau program through Health Net.

    You will not place much with either of the Blues because that's what 75% of the people already have. However, I think the Health Net has better plans and you can "out compete" many other agents.

    Now for people on Cobra or on their spouses group, you can help them with any of the 3 carriers. Most people really should be on HSA plans and each of the companies have their place. Blue Cross covers all recommened preventative care but this won't really interest anyone unless they are close to or over 50.

    Blue Shield might be competitive with their HSA 4000 but usually is higher priced than the same plan through Health Net.

    The Farm Bureau program covers maternity with a max out of pocket of $3,600 but their other HSA plans without maternity go as low as $1,750.

    Hope that helps.

    Rick
     
    GreenSky, Jan 23, 2008
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  5. thatdguy
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    Great.. thanks RICK! I appreciate your help!
     
    thatdguy, Jan 23, 2008
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  6. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    wrong.....health insurance is a totally different animal than life insurance because of the underwriting and plan designs differ from co. to co......you have to have a working knowledge of all the plans on the market from group plans to individual plans to find your clients best option to fill their needs....no way I could do this with just a couple of company's and a couple of plans.....sorta like NAA agents only selling non~med slam plans.....you have to look out for your clients best interest rather than your own......

     
    Last edited: Jan 23, 2008
  7. GreenSky
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    In California, there are only 5 "main" carriers writing individual policies. I find Aetna useless and PacifiCare has little to offer. That leaves the 3 carriers I mentioned in my last post.

    As far as knowing the plans, I subscribe to Zapquote.com and when I run a quote it includes all carriers with a brief description of the plans themselves.

    Of course one should have a working knowledge of all plans available but that wasn't the question. The question was who to represent not which companies wrote insurance in California.

    Rick
     
    GreenSky, Jan 23, 2008
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  8. JRoot
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    Thatdguy,
    In CA, you can contract directly with the 5 main carriers. No need to go to a brokerage unless you want the help they give you.

    Also, GreenSky is right, read up on HSAs...These are getting alot of my new IFP business.

    If you're looking for a GA, try Word & Brown Group Health Insurance Administrators, Inc.. I don't use them, but have heard some good things. They'll quote and make recommendations for you if you're not comfortable yet.
     
    JRoot, Jan 23, 2008
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  9. Dave020
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    Dave020 Super Moderator Moderator

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    If you are going to be writing IFP and not group, DO NOT use a GA! There is no GA override for IFP and they will put it under their agent number with you as sub-agent, meaning THEY own it not you.

    In CA, contract with Blue Cross, Blue Shield, Health Net and also offer a bit of Kaiser (it's referral not full agent servicing). Adding Kaiser lets you get the referral fee for business you would not place with the other carriers anyway (there are those who only want Kaiser so you might as well get something for it).

    Each of the three main carriers offers agent connect web sites that allow prospects to work through you and do plan research online. They have "plan finder" in them to help the prospect narrow down and find the best plan fit.

    Rick has a good point that Zapquote offers a lot. You can run full benefit quotes with this program and tailor it to your needs.

    Aetna is available and also has the web connect system. I am leary of Aetna since they abandoned the CA IFP market a few years back. Nothing to stop them doing it again if exposure gets to hot again. P-Care is really just UHC in disguise. Read the UHC contract carefully if you are thinking about P-Care - let's say you would not be serving your long-term business interests by actually contracting with them and writing cases - there is no vesting in the contract.

    Good luck and hope this helps!

    Dave
    The David Fluker Health Insurance Agency - Gilroy, California - Serving California Residents Since 1995
     
    Dave020, Jan 23, 2008
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  10. STIBROKER
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    STIBROKER Like My post and enter the DRAWING,,,, Moderator

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    just ran ehealth insurance and they gave me 7 company's......
     
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