I Love Obama-care and Hello

[jeffinomaha]

I do like the idea behind Obamacare - people need to live and all that regardless of their income. But I sincerely hope it creates opportunities for those who might be negatively impacted by it.

Anyway, this is my intro. Hello!

I've made the decision and fully expect to be a licensed insurance professional in the next couple months. I'll start out 'captive' most likely with Physicians' Mutual (or Woodmen or Mutual of Omaha.) Going independent sounds great, but first things first.

A little about me. For the last ten years, I've worked politics from lowly field organizer to Head Honcho/Campaign Manager. That means door knocking and phone calls are my bread and butter. I'm always asking for time, votes, or money

In between campaigns I often worked as a waiter. Anyone want to add crab-meat to their steak for just $2 more? Yumm

In years past, I published a small newspaper (24page tabloid). I picked a great time to enter the print industry LOL. I published that for four years. Loved it, but there was no future.

Also served in the Nebraska Air Guard preceded by a year of active duty for training. Had an above top secret security clearance, and I just want you all to know that there are no aliens - NONE I tell you - at area 51.

Thanks for reading and if you have any advice for a complete newb, please share.

 

[russelltw]

Going along with what you mentioned, you may have also picked a "great" (insert sarcasm) to enter the health markets. With 2014 coming up, I believe it will be very hard to sell under 65 health after 6/1. Without knowing what compensation will be in this new market, it will be hard to tell what the future holds. Low compensation, and there is no incentive to help. If there is a decent comp and there are renewals (renewals are a key aspect to me); it may be okay.

As for a newby, getting up to speed on how the insurance market works, knowing how the companies work, the ins/outs of the type of coverage may make for a difficult ride. If comp is fair and you have a book of business and leads you have worked in the past; you may have a shot at weathering 2014. The book makes it easier to make some "easier" sales, the leads make for some less easier sales, and those without either, I believe it will be a difficult task.
It may not be good news to you, but it's my honest opinion. Good luck and don't put all your eggs in the health insurance basket.

 

[GreenSky]

Well duh! Obamacare is the best thing that ever happened to the country.

Rick

 

[jeffinomaha]

Hi Russell.

I definitely have my eye on supplemental, "medigap" insurance. With a steady stream of boomers retiring and getting medicare, it seems a good time for it.

With Obamacare, it's a potential boon with millions of new buyers entering the market (I assume.) Like you said, depends on the comp.

 

[russelltw]

Jeff,
With supplemental, the income takes a bit to build up. If you could sell 150 a year in the med supp market, you would be going well.

Remember to factor in the money you will need to have on hand to weather the low income rates. So think of it as this. First year you could get up front commission of $225 per application. If you consider you will get as earned after the 12th month, now you are getting $18.75 per month per client. When you run a spreadsheet of how many you sell per month on average, you realize that a steady income takes a couple years to get to.

 

[xrac]

Entering the health insurance market now is a good way to starve in my opinion.

 

[Mark]

Because of ObamaCare companies like Papa John Pizza, Kroger and Walmart will stop hiring full time people. They will have to hire twice as many people part time. It will look better on paper, but they wont have to deal with ObamaCare. ObamaCare really sucks. My Kaiser went up a ton. $420 a month for me and 1 kid.

Dont blame me, I didnt vote for Obama!

 

[somarco]

Because of ObamaCare companies like Papa John Pizza, Kroger and Walmart will stop hiring full time people.

And current FT employees will be PT by the end of 2013.

Jeff, the Medigap business is good depending on your patience and your income needs. I don't take advances on anything, so I have no idea how that works in the gap side but it is generally a snake pit for agents.

Rusty said $18.75 a head and that is about right depending on your area. Let's use $20 because it is easier to work with.

With 100 paying policyholders on the books that is $2000/mo in new/residual income. Double it for 200 policyholders.

It probably takes most agents 3 - 5 years to get 400+ paying clients on the books which is the mythical 6 figure income some dream of.

You might be able to do it quicker, but selling seniors using high pressure tactics won't work long term.

 

[rousemark]

I do like the idea behind Obamacare - people need to live and all that regardless of their income. But I sincerely hope it creates opportunities for those who might be negatively impacted by it.

Anyway, this is my intro. Hello!

I've made the decision and fully expect to be a licensed insurance professional in the next couple months. I'll start out 'captive' most likely with Physicians' Mutual (or Woodmen or Mutual of Omaha.) Going independent sounds great, but first things first.

A little about me. For the last ten years, I've worked politics from lowly field organizer to Head Honcho/Campaign Manager. That means door knocking and phone calls are my bread and butter. I'm always asking for time, votes, or money

In between campaigns I often worked as a waiter. Anyone want to add crab-meat to their steak for just $2 more? Yumm

In years past, I published a small newspaper (24page tabloid). I picked a great time to enter the print industry LOL. I published that for four years. Loved it, but there was no future.

Also served in the Nebraska Air Guard preceded by a year of active duty for training. Had an above top secret security clearance, and I just want you all to know that there are no aliens - NONE I tell you - at area 51.

Thanks for reading and if you have any advice for a complete newb, please share.

I say a person should go with what they love. You should concentrate on individual major medical plans through the exchanges. Don't let anyone talk you out of it with their nay saying.

 

[senior-advisor-indiana]

And current FT employees will be PT by the end of 2013.

Jeff, the Medigap business is good depending on your patience and your income needs. I don't take advances on anything, so I have no idea how that works in the gap side but it is generally a snake pit for agents.

Rusty said $18.75 a head and that is about right depending on your area. Let's use $20 because it is easier to work with.

With 100 paying policyholders on the books that is $2000/mo in new/residual income. Double it for 200 policyholders.

It probably takes most agents 3 - 5 years to get 400+ paying clients on the books which is the mythical 6 figure income some dream of.

You might be able to do it quicker, but selling seniors using high pressure tactics won't work long term.

Actually it takes 416.66667 clients to get to the mythical 6 figure income. You obviously don't know what you are talking about...