Say Goodbye To Existing Non-Grandfathered Policies?
- Thread starter AllenChicago
- Start date
and I too just scared the pee pee out of a client that wanted to blow off his grand fathered plan... took 1 hour to do it, but there you go
- Thread starter
- #54
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My brother in Michigan is on a "Priority Health" group plan, and has been for several years, yet he received this policy amendment in the mail last week... (I found a copy online)
http://www.google.com/url?sa=t&rct=...t4HoAg&usg=AFQjCNFSCazgCP8DC00-RTxX5JZvsSgCrA
Looks like Priority Health isn't sure if it will cancel the policy at any moment, with 5 days notice. Or, it will be renewed into late 2014. Maybe this is just something covering all bases.. but then again he's on a school system group plan. Perhaps it was mailed by mistake. Certain sections of health insurance companies are in disarray and dismay right now.
-ac
http://www.google.com/url?sa=t&rct=...t4HoAg&usg=AFQjCNFSCazgCP8DC00-RTxX5JZvsSgCrA
Looks like Priority Health isn't sure if it will cancel the policy at any moment, with 5 days notice. Or, it will be renewed into late 2014. Maybe this is just something covering all bases.. but then again he's on a school system group plan. Perhaps it was mailed by mistake. Certain sections of health insurance companies are in disarray and dismay right now.
-ac
My main carrier is still saying plans written after ACA was passed will all morph into ACA plans on 1/1/14. At this point, I am telling clients these plans will change on 1/1/14 and we will consider their options on 10/1/13.
To my surprise, I am still writing a fair number of under 65. I truly thought volume would drop off a cliff. So far it has not.
People who I am writing really have no idea what is coming. Like Ann has mentioned in other threads, if you are prepared, this could be a once in a career opportunity. If you are not prepared, this could hit you like a mac truck...My main carrier's individual sales exec still said you better have plan B in motion.
To my surprise, I am still writing a fair number of under 65. I truly thought volume would drop off a cliff. So far it has not.
People who I am writing really have no idea what is coming. Like Ann has mentioned in other threads, if you are prepared, this could be a once in a career opportunity. If you are not prepared, this could hit you like a mac truck...My main carrier's individual sales exec still said you better have plan B in motion.
If you are telling your clients you will address it 10/1 you are toast....why? I feel you need to have your boots on the ground on that date with new money.... Handle them in sept and y ou should already know or be getting income on clients... I am having the "talk" with my clients and told them come aug and sept we move to plans that renew 01/2015. All those below 350 % are getting called during the aep
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- #58
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Thank-you TaterPeeler for your lesson in financial logic! Indeed, working exclusively with existing clients during the ObamaCare Open Enrollment Period would be like Spot chasing his tail... 100% Premium Increase + 50% Reduction in Commissions = NO GAIN. (But quite a bit of work!)
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- 4,096
You may not have a choice.
The clients could start calling you.
The clients could start calling you.
some already are and those with grandfathered policies are being made aware of the massive pitfalls of the decision to cancel now.
Canceling a GF policy now and being above 400% of FPL is financial suicide.... I just had a long time client that was exploring job coverage and they sit well above 400% FPL and wanted to discuss canceling..... rate inside the ACA 1200-1300 according to all sources her current rate? 475..... Sit TIght until more is known.... there is no going back, ever.
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