I read were Oscar and I think Molina will no longer be paying commissions?

[Real_AMG]

WHY would Orig.Medicare (om) be more problematic....?

Bc it’s administered by the Federal Government and has to be underwritten with actuarial mathematics. Its solvency is dependent on their efficiency to act as an insurance company. Their expenses are difficult to predict.

MA is a fixed, per member payment that they make to the plan every month. No underwriting or actuarial science. Much easier to administrate and much more predictable.

 

[Yagents]

I'd rather have the endless bank account of the govt to dictate my healthcare, vs an insurance company network and pre authorizations restrictions to make a profit on a fixed payment amount from the govt.

 

[Helpico_Insure]

I'd rather have the endless bank account of the govt to dictate my healthcare, vs an insurance company network and pre authorizations restrictions to make a profit on a fixed payment amount from the govt.

Are you a socialiust?

 

[Helpico_Insure]

They are actually starting to realize how valuable we are

Are they? If they have one more mandate, you'll see an army of navigators making 100k and taking business a way from us. These hires are political. The previews president cutr them off from the government table, but soon they'll be back.

 

[Yagents]

Not scared of navigators taking away my business.

Nor do I want some institution determining my healthcare, especially when I can ride on the gov't budget. Hey, I don't make the rules. And I'm a conservative, not even close to being a liberal.

 

[Coolidge1924]

Really disappointing news from Oscar. Correct me if I am wrong, but I have not seen a formal announcement of this via an email from their Broker Support Team. Maybe they are trying to keep this on the dl, since the 30K partners they claim to have may not be too happy with the news... I reached out to their commissions team on this and was told the following:

Thank you for reaching out to us.

With your help, our team at Oscar had a very successful Open Enrollment, and we want to ensure we’re able to support our current membership. We’ve decided to reduce commissions for new policies with a 4/1 or later effective date to ensure we are growing sustainably and able to support our membership. This will apply in all states except California and Colorado. There is a chance if/when a policy renews for 2023 that was created after the 4/1/22 date could be eligible for commissions. However, this is uncertain at the moment and we will have more information as we get closer to the next Open Enrollment period.

Please feel free to contact us with any more questions!

Naturally, brokers including myself will have to focus on other carriers that do compensate (ie. BCBSTX, UHC, Aetna).

 

[DonP]

Oscar went to zero commission correct ? I saw Molina letter were they cut commission . What commission did Molina cut to ? How long before all carriers smell this and cut their comp big ?

 

[Yagents]

I'd recommend you worry about something else.

Reflect back to 2017 when we had 1 carrier paying $10 pmpm. Now we have 8 carriers paying 20 to 30. The aca market grew 30% because of arpa, let the carriers absorb the volume, and all will be ok. Go to sleep now.

 

[Helpico_Insure]

I'd recommend you worry about something else.

Reflect back to 2017 when we had 1 carrier paying $10 pmpm. Now we have 8 carriers paying 20 to 30. The aca market grew 30% because of arpa, let the carriers absorb the volume, and all will be ok. Go to sleep now.

Yes boss!

 

[Yagents]

Oscar Health Announces Results for Fourth Quarter and Full Year 2021