Say Goodbye To Existing Non-Grandfathered Policies?

[cadylou]

Well, it's every person for himself/herself - when we get to October & individual insurance clients begin getting notices and calling with questions - I'll be out on Medicare AEP calls . . . .

 

[russelltw]

however if they price low, miss the needed premium target and take a bath on the loss there is no way to recoop the loss......

price high to protect the shareholders...... thanks easter-bunny

Tater,
The federal government will subsidize losses over a certain point for insurers until 2018 (according the top exec in indv sales with my main company). At that point, companies better be able to stand on their book of business.
R

 

[taterpeeler]

Tater,
The federal government will subsidize losses over a certain point for insurers until 2018 (according the top exec in indv sales with my main company). At that point, companies better be able to stand on their book of business.
R

I am aware of that however do you think the govt will properly and adequately offset the losses? I dont

 

[insuranceconceptscindy]

Well, it's every person for himself/herself - when we get to October & individual insurance clients begin getting notices and calling with questions - I'll be out on Medicare AEP calls . . . .

I feel like I'm going to have to choose which road to take, Medicare vs. Individual- I won't be able to do both. At this rate, it looks like Medicare is going to win since I know I will be paid and I know how much. . .

 

[stuy119]

Tater,
The federal government will subsidize losses over a certain point for insurers until 2018 (according the top exec in indv sales with my main company). At that point, companies better be able to stand on their book of business.
R

That assumes that the pot of money to fund the losses will be adequately funded that long as well.

 

[Ann H]

Wow, that's terrible.

Unless they are trying to get the market to implode. I have no idea what to think.

So, maybe you're onto something Stuy119. Perhaps they all just want it to implode, with the govt thinking it's a step to single payer and the private market thinking it's a step to proving that you must bring down the true drivers of increasing health costs.

Either way, 12/31/2013 is a cliff for millions of people.

 

[russelltw]

That assumes that the pot of money to fund the losses will be adequately funded that long as well.

The pot of gold includes your back pocket... All the taxes and fees on this eventually work its way into your back pocket.

 

[cadylou]

I just received this note from Golden Rule - did anyone else?:

[FONT="Arial","sans-serif"]ImportantMessage Regarding Your Commission Earnings[/FONT]​

[FONT="Arial","sans-serif"]As 2014 approaches and Health Care Reformtakes effect, we understand some brokers are feeling uneasy about healthinsurance carriers and their future with these companies. [FONT="Arial","sans-serif"]I want to assure you that we[/FONT][FONT="Arial","sans-serif"]value your business andit has been our priority, for the nearly 70 years Golden Rule has been inbusiness, to do what is best for our brokers and their clients.[/FONT]

It is our goal to be the most secure health insurance carrier to work with, forboth you and your clients. With that said, I would like to share with you whatI hope you will find to be[FONT="Arial","sans-serif"]positive and encouraging news:[/FONT][/FONT]

1. ​

[FONT="Arial","sans-serif"]The commission schedule you have for underwritten UnitedHealthOne[/FONT][FONT="Arial","sans-serif"]SM[/FONT][FONT="Arial","sans-serif"] business written in 2013 [/FONT][FONT="Arial","sans-serif"]will not decrease[/FONT][FONT="Arial","sans-serif"]. [/FONT]

[FONT="Arial","sans-serif"][/FONT]

2. ​

[FONT="Arial","sans-serif"]We guarantee your current commission schedule[/FONT][FONT="Arial","sans-serif"] will apply for business underwritten in 2013 [/FONT][FONT="Arial","sans-serif"]for the lifetime of the coverage[/FONT][FONT="Arial","sans-serif"], according to the terms of your contract.[/FONT]

[FONT="Arial","sans-serif"]What's Next?[/FONT][FONT="Arial","sans-serif"]

A number of carriers have indicated they may take drastic measures, includingending current coverage of their customers. Despite what you have been hearingin the marketplace, Golden Rule Insurance Company is committed to you, yourclients, and your future business. Our focus is to help you with theopportunity that exists today to write more business.

[FONT="Arial","sans-serif"]We trust thisannouncement demonstrates our good faith in doing our best to continue to serveyou and your clients to the fullest.[/FONT] As we move toward 2014, wehope that you will continue to rely on us to offer the best health insuranceand related products and services available. Thank you.

Sincerely,

Patrick Carr
CEO, Golden Rule Insurance Company

[/FONT]
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oops - once posted you can't really see the images that well - you can highlight & see them though - sorry about that. . ..

 

[taterpeeler]

YES, I GOT IT BUT DID YOU NOTICE THE POINT OF: we will guarantee your commissions.... for the lifetime of the coverage, according to terms of your contract.

point one, if they term the coverage where are you?

next, I bet if you look at the contract there are terms stating something about applicable law... that could and does mean reglutator changes....

this says nothing new

carriers would love to get new clients in order to have a somewhat easy transiation into the exchange....

guys, do get all yippie over this, it soes not say anything

 

[Ann H]

This carrier seems to be trying everything they can to get new business at this time.