I Will Lose ___% of My Income Due to HCR

[Crabcake Johnny]

The only thing I do know is this: If I sell a policy today, when it issues next week I get 20%.

...only through December. Remainder of the commission will be paid out one a "yet to be determined" schedule.

So if you sell a $3,000 policy effective Oct 1st you're only guaranteed $150.

 

[669comche]

True, but again the following week I will be paid the full 20%

I am not being paid in December. I am being paid in September.

What they do post December I have a) No idea and b) No control over.

 

[djs]

True, but again the following week I will be paid the full 20%

I am not being paid in December. I am being paid in September.

What they do post December I have a) No idea and b) No control over.

Good attitude!

 

[Full Throttle]

When I decided to diversify last year, over 85% of my revenue was health insurance (group and IFP). I'm getting closer to meeting all my business overhead and personal bills with life insurance commissions only (not all the way there yet). My goal is make health my "gravy" income that I'll pile into savings/retirement funding over what I do currently. The longer it stays the better, but I won't be up a creek if it disappears.

It was hard to leave health insurance since I was good at what I did in the small group market and built my expertise there (I still write some, but don't look for it). I thought hard about my decision again when I had a good opportunity in the benefits market fall in my lap last week that would have put me in front of some decent sized companies on a favorable basis, but I turned it down since I had already made my decision.

Switching lines sucked and there was a steep learning curve. It's tough to "diversify" if you keep health as your focus and figure you'll cross sell every so often. It wasn't working for me, I had to cut bait and shift my focus 180 degrees. We all get to place our bets on the outcome, my decision was to be proactive rather than reactive.

 

[669comche]

Health accounts for 20% of my agency's revenue so we won't be up the creek either and I think that we can absorb the loss with additional income from our other LOB.

Its going to be an interesting the next 6 months or so.

 

[ABC]

I think most health agents will be gone.

Those of us that are left will see a initial reduction of 50% in the individual and small group comp.

I expect to triple production in those areas in the years to come.

Once the chop shops, GA's, Keyboard warriors, lead generating site are gone opportunity is going to knock.
If you have invested into your own website and built relationship with the carriers it could get very busy.

In 2014 I think there will be opportunity you just have to work for it.

 

[Full Throttle]

I think most health agents will be gone.

Those of us that are left will see a initial reduction of 50% in the individual and small group comp.

I expect to triple production in those areas in the years to come.

Once the chop shops, GA's, Keyboard warriors, lead generating site are gone opportunity is going to knock.
If you have invested into your own website and built relationship with the carriers it could get very busy.

In 2014 I think there will be opportunity you just have to work for it.

In the short run, my guess (as good as any) is that you'll be right. In the long run, I see universal health care and no agents. I could be wrong, but that's where I placed my bet. I'll repeat, I hope I am wrong!

 

[669comche]

In the short run, my guess (as good as any) is that you'll be right. In the long run, I see universal health care and no agents. I could be wrong, but that's where I placed my bet. I'll repeat, I hope I am wrong!

Universal healthcare is not coming to the US.

1) The country cannot afford it
2) No one wants it
3) Its not in the psyche of the US to "provide for all"

 

[houcoogster]

It looks like to me that 0 is worried about his legacy. Look at all of the 0 health reform propaganda videos I posted within the last day and a half. Take into account he even went to church last Sunday. It will all be whittled down to nothing in time and HE KNOWS IT.
History will record this as "the health reform that never was".

 

[Full Throttle]

Universal healthcare is not coming to the US.

1) The country cannot afford it
2) No one wants it
3) Its not in the psyche of the US to "provide for all"

I hope you are right, and you may be. I see this being sold to the public as "look, we reformed health care and the insurance carriers raised your rates. Let us take it over from the greedy carriers so we can better control the premiums for you. Let's cut out insurance carrier profits completely."

Even though we can't afford it, that hasn't stopped us so far.