Maybe We Should Start Suing?

[insurehound]

I know, I know a crazy idea but why are we just "taking it"? We are being forced out of business because of a new, untried system, not a better system. It's not like we don't bring value to society or have been outdated like the video store.

If we organize and put a little money towards saving our careers, then maybe we can get some play in this new climate?

We wouldn't have to do this if we actually had some power and a group that actually gives a crap about us. The only people who care about us are us!

It's better then just complaining about things; this way we can go out fighting.

 

[jbage007]

I'd rather just hang out a sign:

Gone fishin'

 

[Full Throttle]

I know, I know a crazy idea but why are we just "taking it"? We are being forced out of business because of a new, untried system, not a better system. It's not like we don't bring value to society or have been outdated like the video store.

If we organize and put a little money towards saving our careers, then maybe we can get some play in this new climate?

We wouldn't have to do this if we actually had some power and a group that actually gives a crap about us. The only people who care about us are us!

It's better then just complaining about things; this way we can go out fighting.

Stages of grief:
Denial
Anger
Bargaining
Depression
Acceptance

I've been through it already with my health insurance business, now I'm at acceptance. Develop a proactive plan and start moving on.

 

[HealthGuy]

Full: This is a great post. Hilarious and true.

 

[VolAgent]

At least he's moved on to anger, I think many are still back in denial.

 

[insurehound]

Laugh all you want...enjoy!

 

[VolAgent]

We laugh because it is funny.

On what basis are you going to sue, that they put you out of a livelihood? No legal ground there to stand on.

Until you can find a basis on which to sue, its hilarious.

 

[Crabcake Johnny]

As independent contractors I doubt there's a legal basis for a suit.

 

[VolAgent]

As independent contractors I doubt there's a legal basis for a suit.

Ask drug dealers if they are able to sue the government for making their profession illegal, ask the next street walker you see...

Without NAIC or HHS seeing value in agents and agents receiving reasonable compensation, there is nothing that can be done to preserve agent commissions.

If you want to continue selling health insurance, your best bet it to apply for a Navigator position and hope it pays 30,000 - 40,000 a year with government benefits.

 

[Full Throttle]

Laugh all you want...enjoy!

I was having fun with your comment, but I was serious as well. About a year ago, I went through those stages. Although it's not like someone died, I did get angry, then somewhat depressed, then I finally decided to be proactive and start running forward again.

My health renewals cover all my business and living expenses and I've taken a lot of time to develop an expertise in the health insurance/employee benefits market. The though of those thousands of cold calls going down the drain, the usefulness of the referral networks I've build being null, and having to start a new process had me a little upset to say the least.

I've said continually, I have no idea what will happen, but there will be downward pressure on commissions and possibly universal government run health care down the road. Also, maybe there won't be, I don't know. I finally asked myself this question:

Now that the government is so actively involved in how I get compensated, am I willing to invest 10 to 20 more years of sweat equity into the health insurance market and be forced to worry every couple years whether I'll lose it all due to some out of touch bill being drafted?

For me, I decided the answer was no. I finally accepted that I could control what I do from here and put myself in a position to not have to worry about it. I decided my health insurance renewals bought me time to learn a different side of the business, as long as I got moving quickly. I've always like the life/securities side of the business, but wasn't very active in it. About one year ago, I decided I would no longer prospect for any health insurance business (although I still write what comes my way), I would dedicate myself to building a life insurance clientele.

I still service my health book and write business from time to time, so I have a vested interest in not seeing my revenues cut or lose my health book of business to a state run exchange. That being said, although it would suck, I'm a much happier person now. That's not to say the learning curve wasn't HUGE (or the sweat equity) learning a new side of the business, in fact, I'm still learning all the time and suspect it will be a while before I get to the same comfort level I had on the health side.

For myself, I gave lip service to how easy it would be to cross sell all my former health insurance clients the day my health commissions ended and provide a smooth transition into the life/securities market. It was a false sense of security (denial), I've sold plenty of them, but no where near enough to build a profitable business. If someone wants to place all their bets on the health market, I have no problem with that decision. It may even pay off in a big way as more brokers exit the market. Or it may not. But what ever you do, take a look around and make a proactive decision.

I'm now climbing off the soap box.