Random Thoughts, Ramblings, Ideas, Questions, Etc..

[AllenChicago]

November 20, 2014

QUESTION..

To the best of anyone's knowledge, have health insurers ever lowered agent commissions on existing policies?

If not, do they have the legal right to do so?

ac

 

[somarco]

Just a wag, but I don't know if there is any grandfathering on existing policies. Carriers can change comp at any time with proper notice. FWIW, if you are referring to existing IFP, now that everything is on a calendar yr it doesn't really matter.

 

[AllenChicago]

Just a wag, but I don't know if there is any grandfathering on existing policies. Carriers can change comp at any time with proper notice. FWIW, if you are referring to existing IFP, now that everything is on a calendar yr it doesn't really matter.

so, carriers can reduce commissions on policies in midstream based on what the new Congress say they will do to start dismantling Obamacare??

 

[somarco]

Anything can happen AC. At one time in my life I thought I had it all figured out then someone came along and changed the rules.

This is not the same thing but I finally got around to reading a memo from Cigna sent (????). They said any business, on or off the exchange, with eff dates of Oct - Dec 2014 would pay $0 commission.

Glad I didn't write anything then.

 

[dgoldenz]

Assurant already reduced comp on the existing ACA policies from 10/2 to 6/1 or whatever.

 

[AllenChicago]

Thanks for your responses Somarco and DGoldenz.

I asked this question because health insurers are being targeted by HHS with more rules:
HHS calls for slew of Obamacare rule changes.

And, as an opening salvo of much more to come, the GOP has filed suit to stop the Treasury from sending billions of dollars to insurers:
Boehner: House GOP files Obamacare suit - CNN.com

If health insurers feel that they are going to face additional rules, and/or lose revenue, agents will again be recipients of those "Due to impending changes, we've made the painful decision to make commission adjustments" letters.
ac

 

[kgmom219]

Thanks for your responses Somarco and DGoldenz.

I asked this question because health insurers are being targeted by HHS with more rules:
HHS calls for slew of Obamacare rule changes.

And, as an opening salvo of much more to come, the GOP has filed suit to stop the Treasury from sending billions of dollars to insurers:
Boehner: House GOP files Obamacare suit - CNN.com

If health insurers feel that they are going to face additional rules, and/or lose revenue, agents will again be recipients of those "Due to impending changes, we've made the painful decision to make commission adjustments" letters.
ac

I cant even think about this right now.

Maybe we should start a thread entitled "Read after 2/15".

 

[AllenChicago]

I cant even think about this right now.

Maybe we should start a thread entitled "Read after 2/15".

That's why I created this Random Thoughts thread, KGMom. It's for reading at your leisure. Now....at a future date...or ignoring totally. Just another channel on the television.
allen

 

[AllenChicago]

I cant even think about this right now.

Maybe we should start a thread entitled "Read after 2/15".

There will be a lot of pissed off agents in this forum if commissions are cut on the business they're working their butts off to write this Open Enrollment.

Running hard with your head down can blind you to the big hole being dug in the road up ahead.

Never thought I'd say this, but now is the time to write your Republican officials and ask that they re-consider their 2016 assault on the Affordable Care Act. I'm going to offer myself up to the liberal news media as an Agent who's now an ObamaCare Proponent.

Once the anti-ACA defunding momentum really gets going after January 2015, it will be more difficult to stop.
ac

 

[taterpeeler]

This is some great information. Thanks for sharing.

Richard Martinez
Latin Agents Alliance

are u latin? im not.....................