Health Producers, Business Strategy?

[Full Throttle]

I thought I would start a new thread, I'm curious what other health producers are doing or planning to do. Is it business as usual until something changes? Are you diversifying now? Have you completely switched gears to another line?

If **** hits the fan and you can not profitably sell health, where do you go from here?

 

[YouGotMyMoney]

I am going to be selling individual health until it completely unravels.

But the master plan is med supps, has been since I learned about level commissions for 6 years.

Would I rather write 1 million a year in individual health or med supps?

Ding...Ding...Ding----Med Supps!

Even at 15% commission on the low end that's-$150k the first year alone!.....The 2nd year even if only 80% stayed with me, that's $120k in renewals.....and so on and so forth.

But by this time next year I want to be writing 10 med supps a month along with individual health, just so if things get too stupid I won't be scrambling to get launched with med supps.

Now, if individual health turns into a med supp kind of business I will add that too.

 

[insuragent]

IF health reform passes then there will be no health agents? I would think that health agents would still be needed to write someone onto a plan, much like Medicare, Medicare Advantage etc. Health Insurance is still complex compared to life insurance.

 

[tajitj]

I have been giving that some thought today. If they just subsidize the crap out of major medical, I'd guess the whole range of supplemental will boom.

The income ranges they are talking about offering subsidies are on the higher end in my book. Families making around $80k in middle America are not that bad off. So if they are getting a direct subsidy or this thing actually reduces premiums, then they would seem to be a great target for a good supplemental.

Yes? No?

I am not in business, just like to hear what you guys think about this bill. Very interesting to see this play out.

 

[somarco]

write 1 million a year in individual health or med supps?

At $400 per app that is 2500 apps.

If they just subsidize the crap out of major medical, I'd guess the whole range of supplemental will boom.

The plan design in the bills leaves no need for supplemental coverage . . . and no room in your budget either.

Subsidies are just income redistribution. The feds will be getting taxes from numerous streams, all of that passed down to consumers, which means all of us (not just the wealthy) will pay for "reform".

Looking at these bills, plus all the other stupid things going on in DC makes it very clear the economy is about to implode.

 

[ticker_shuffle]

It is going to depend on how health insurance companies react to legislation. I am hopeful that they will count on independent producers, however I fear the launch of "GEICO"-like organizations monopolizing the commoditized health insurance arena.

If people are required to buy, marketing is going to be key to get people to come to you and it might be hard to compete with potential national advertising campaigns.

 

[YouGotMyMoney]

At $400 per app that is 2500 apps.

lol....sorry I meant 1 million in production

1000000 / 3500 AV per APP= 286 apps a year or 24 per month.

 

[Crabcake Johnny]

In about a week I'm not going to have a care in the world. A Nigerian price is wiring 1.5 million into my account. Actually, I sent him the 15K a month ago so I don't know what the hangup is.

 

[Full Throttle]

John,

You laugh about those emails, however, I've met "that" couple. Burned three different times.

 

[Crabcake Johnny]

Common....seriously.