Mlr

[houcoogster]

Well at least the commissioners told them that they would be inundated with calls by customers if the agents went out of business. So hopefully the subgroup can come up with something reasonable.

Can you imagine the chaos that would ensue come 2014 with no agents to help.

 

[SamIam]

5% commission
Possible 10% bonus to brokers with 100-200 inforce plans with that carrier.
Possible 5% bonus to brokers with 50-99 inforce plans with that carrier.
Possible 2.5% bonus to brokers with 25-49 inforce plans with that carrier.

Where did you get this info from?

 

[JMO Fan]

Expectation based upon polls is for 17 new state commissioners, most of them Republican.

HHS might feel pushed by politics to play it cool for awhile.

Republicans in Congress are likely to slash their Obamacare budget.

2011 promises to be a very interesting, unpredictable year for Obamacare & the industry.

 

[CHUMPS FROM OXFORD]

Sam...Just a guess. Like all of us here, we can guess, but we don't know the future.

 

[ABC]

Umm, you know something I don't. Exactly how are we going to get 100 new state insurance commissioners, and how does November have anything to do with it?

The Nov. election.

I don't know if the incoming insurance commissioners could have any impact on the MLR. From the Politico article I think we are screwed.

This MLR ruling is really really bad for us.

 

[CHUMPS FROM OXFORD]

"The NAIC meeting where the MLR vote took place was held at a hotel in Orlando, Fla. I'm told before the meeting insurance company CEOs were busy working the phones, personally calling state insurance commissioners and practically begging them to weaken the MLR guidelines already approved by an NAIC committee. At the meeting itself, I'm told there was one insurance company employee or lobbyist on hand for every insurance commissioner or staff member.
This lobbying effort will continue for years, as HHS gradually moves through the process of writing regulations to put the ACA into practice."


​

 

[VolAgent]

The Nov. election.

I don't know if the incoming insurance commissioners could have any impact on the MLR. From the Politico article I think we are screwed.

This MLR ruling is really really bad for us.

One, we don't have 100 states, just 56. Ask Obama. Two, most insurance commissioners are appointed, not elected.

Finally, that some of the commissioners see how bad it will be without agents is a good thing. I think you can expect them to continue to fight for agents, just to keep their offices from being flooded with calls. Their budgets will be under extreme pressure if licensing fees and premium taxes decrease, while call volume increases. State budgets are under extreme pressure, try selling the state legislature on doubling your budget when your revenue just got cut in half, and you put thousands of tax paying agents out of work.

 

[Crabcake Johnny]

Again, not following any of this. Broker commissions, if adopted by HHS (a formality) will be in the MRL calculation.

Then they go onto say all the issues with servicing policies and a subgroup will be formed....to help? Help what? The mere fact that commissions will be in the MLR calculations means comp goes down. I'm not exactly sure what this subgroup is going to do about it but I'm all ears.

 

[houcoogster]

5% commission
Possible 10% bonus to brokers with 100-200 inforce plans with that carrier.
Possible 5% bonus to brokers with 50-99 inforce plans with that carrier.
Possible 2.5% bonus to brokers with 25-49 inforce plans with that carrier.

80% for claims
15% for commission
5% for admin/execs/shareholders

I don't see this working.

Even if you cut commission to 5%
That still only leaves 15% for admin/execs/shareholders

This won't work either.

 

[Crabcake Johnny]

"Frank, you're going from $80K a year down to $24K starting January 1st. Now, don't worry because we've formed a subgroup that's going to help you relocate from your house to an apartment complex. The committee will also help in state assistance programs including food stamps. We're here to help you with the transition."