Health producer comp bill flies through senate committe

[Chazm]

I believe this is a good thing, especially within the context of push for transparency. Do not understand why someone would be against it. Disagree with the belief that this is a way to blame the broker/agent for the high cost of insurance. Use of carriers/tpa makes great sense, infrastructure is already built and the incremental cost would be very little compared to what an agent/broker would need to spend.

What good does it bring? I don’t see me losing any sales but why do it if it doesn’t make anything better? They are trying to bring something to light that has no bearing on health care cost. They are wasting time and dollars by looking into this instead of the real issue.

 

[aikenhealth]

Chazm - you are SOOOO right - fix the problem - do not lay onto the messenger who brings the option of cover to you - start at the TOP of the food chain not the bottom - $19 million dollar CEO income to begin with...."Blues CEO Daniel Loepp, 61, who received $19.2 million in total compensation last year — a record for Michigan's largest insurance company — is also one of the highest-paid bosses of any health insurer in the nation"

 

[leevena]

What good does it bring? I don’t see me losing any sales but why do it if it doesn’t make anything better? They are trying to bring something to light that has no bearing on health care cost. They are wasting time and dollars by looking into this instead of the real issue.

I agree it has very little impact on the cost, and that it is not the real issue. But with all the emphasis on transparency, by resisting or fighting this it will raise questions about why the industry is fighting this. I see it as a defensive move.

One of the trends I have observed over the past 2 years is the public is beginning to see the providers as the driver of costs whereas in the past it was almost always the carriers. The push by politicians for transparency, as well as the proliferation of Referenced Based plans, have helped to change the public’s perception.

 

[DaKine]

I believe this is a good thing, especially within the context of push for transparency. Do not understand why someone would be against it. Disagree with the belief that this is a way to blame the broker/agent for the high cost of insurance. Use of carriers/tpa makes great sense, infrastructure is already built and the incremental cost would be very little compared to what an agent/broker would need to spend.

Next time you go to Walmart. Tell them that you want to know what their cost of this item is before you buy it because you want to know how much they are making off of the sale.

 

[DaKine]

I agree it has very little impact on the cost, and that it is not the real issue. But with all the emphasis on transparency, by resisting or fighting this it will raise questions about why the industry is fighting this. I see it as a defensive move.

One of the trends I have observed over the past 2 years is the public is beginning to see the providers as the driver of costs whereas in the past it was almost always the carriers. The push by politicians for transparency, as well as the proliferation of Referenced Based plans, have helped to change the public’s perception.

Fine let's be transparent and lay it all out on the table. Let's have clients provide tax returns, paystubs, bank statements, and a full set of financials. We will tell them how much the agent is being paid and then the company can decide if they can qualify to purchase insurance.

 

[Yagents]

Transparency of commissions works, as it doesn't matter, as u dont control it anyways, and the product and commission made is a result of client needs and best product for them.

If not enough, then charge a fee if legally allowed in product and state

 

[leevena]

Next time you go to Walmart. Tell them that you want to know what their cost of this item is before you buy it because you want to know how much they are making off of the sale.

Estimated markup at Walmart is about 30%, give or take a few points. Average comp per person is approximately $22k per year.