How Has the Health Care Reform Impacted You?
- Thread starter Mark
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There has been no Health Care Reform - only Health Insurance Reform.
Rick
Rick
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Yeah and I bet not many people noticed the subtle change in wording out of our Prez's mouth. If you remember when our Prez was campaigning it was Health Care Reform all the way. He only added the word Insurance in later. Changed the whole thing, bet there weren't too many out there that noticed the change, except for us who were paying attention.
As for us, less comp, a couple less employees
. Hurts especially now that we are in the throes of the AEP. Starting to write other lines of insurance more now, and looking to do a totally different business altogether. Easier said than done when you have been doing this for a few hundred years, and you like what you are doing and don't want to change it but there you go. Gotta do what you gotta do.
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The chickens will be coming home roost sometime early spring of 2012. Currently commission cuts have not been felt too terribly much as new business is paying enhanced FYC (depending on carrier, of course).
Using CA Blue Shield as an example, from 20/10 to 12/5* or 15/5* the small hit on 5-8% FYC is noticeable but not crippling. When the plan renews at 5*% on FYP only next year, the commission statements are going to start shrinking while submitted premium will be increasing. Not a good formula for success.
In the meantime, enjoy the ride.....................
Using CA Blue Shield as an example, from 20/10 to 12/5* or 15/5* the small hit on 5-8% FYC is noticeable but not crippling. When the plan renews at 5*% on FYP only next year, the commission statements are going to start shrinking while submitted premium will be increasing. Not a good formula for success.
In the meantime, enjoy the ride.....................
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I 2nd Ann post.
The time that I have had to spend on health care reform is off of the charts.
I have stepped a way from chasing the individual client. You might get one phone call from me and thats it.
On the group side its been hard to pick up new businss because a lot of larger groups don't want to lose their grandfather status. At least that is what the TPA's have sold them on.
The time that I have had to spend on health care reform is off of the charts.
I have stepped a way from chasing the individual client. You might get one phone call from me and thats it.
On the group side its been hard to pick up new businss because a lot of larger groups don't want to lose their grandfather status. At least that is what the TPA's have sold them on.
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