I Will Lose ___% of My Income Due to HCR

[djs]

On the other hand, there are a lot of agents leaving the business and FAR fewer new ones coming into the business. If you figure the size of the pie stays the same, then your portion of the pie can be bigger if you fight for it.

Of course, carriers seem prepared this time to see how much of the pie they can bring in house. Time will tell how successful they are.

Dan

 

[669comche]

Doom and gloom and reality are two different things. The reality is, if you're writing for anyone except Cigna you have no idea what your 1st year compensation is.

Personally, I'm not going to work then find out later what I'm going to be paid.

So you are only selling CIGNA then?

 

[Crabcake Johnny]

I'm a different situation. If you're an agent only selling individual health my advice is start cross selling.

 

[669comche]

If any agent has made the majority of their income from one line of business then they were in trouble before this anyway.

The ones that stay in this business are the ones that have/will diversify their operations, and I don't mean selling CI or anything like that.

Multiple lines per household is the ultimate.

 

[aheff]

We all know we have to do other things do make up for lost income. But, the question is, if we still remain selling and servicing our health business, how much income loss do you think you'll experience? Is it 100%? Is it 75%. The way I figure it, I will be able to retain many of my group clients and some of my individual clients. That may be in the form of keeping what they have, or switching to the exchange. Who knows? Clearly, we're talking about a significant hit. Offsetting that just a bit is the opportunity to sell many more prospects, albeit at a much lower commission. Is it wishful thinking that my health block of business,new and old, will still exist, just much less income generated from that block?

 

[669comche]

I think that is probably a question that you will only get answered with in time.......no one has the answer right now.

 

[AllenChicago]

It's probably best to diverisfy into other areas of the insurance industry, or even a totally different industry. Those who are doing well now in health insurance will also do well with whatever area they choose to focus on. It's just part of our nature to do well in sales.

Those who are not doing well in health insurance will get a push out the door into an avocation where they might do much better. I was compelled to leave the boring computer profession to enter sales 22 years ago and found that it was my cup-o-tea.
-AC

 

[arnguy]

Diversify, diversify, diversify!

 

[Crabcake Johnny]

If you know how to prospect (cold-call) you'll never be out of work a day in your life. For job security, I'll put my prospecting skills up against anyone's MBA.

 

[669comche]

Here is what all of us know: Not a whole lot.

I have tried to find answers about commissions, changes etc etc etc and no one seems to know anything. Its all just speculation, comment and opinion.

The only thing I do know is this: If I sell a policy today, when it issues next week I get 20%. Is it going to stay that way? I don't know. But my bills need paying next month so I will deal with the hand that I have been given today and make the most of it.

Until I am told otherwise, its business as usual as far as I am concerned. Are changes coming? Absolutely...........and I will deal with them as they are thrown at me.