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You do realize you don’t get paid a commission just for quoting someone right?
Selling ACA - why / why not?
- Thread starter myinsurebiz
- Start date
- 1,432
My timeframe is going to be about the same. I'm heading into year three. I'm stable, but not making what I used to.
I waited until I was forced to make the move, unfortunately.
I thought I was diversified in 2013, but my lead selling business crashed (Google penguin & panda) at the same time the ACA screwed up my U65 business.
I could only save one and I focused on my agency. Then I drove around too long on my spare tire and got another flat.
- 1,432
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You might be right. It went from $10 PMPM in Connecticut to $15.
I'd still sell Obamacare aggressively if the AEP and the ACA open enrollment period didn't overlap.
But since I feel I can only choose one, the choice is clear.
You might be right. It went from $10 PMPM in Connecticut to $15.
I'd still sell Obamacare aggressively if the AEP and the ACA open enrollment period didn't overlap.
But since I feel I can only choose one, the choice is clear.
I was getting burned out on U65 health insurance prior to 2010. The "If you like your plan you can keep your plan" law pushed me to make the change.
I averaged about $50/mo per policy level commission. Medicare is about half that but more stable plus I get many X more referrals than I ever did in the U65 market.
In 2014 my U65 income took a precipitous drop . . . almost 60%. Would have dropped more than that if not for many carriers "grandmothering" client policies. I would have been hurting if not for my Medicare block.
Even before 2014 GA carriers started finding ways to avoid paying agent commissions. Once 2014 rolled around they became more creative. No comp on SEP. Nada on plans above bronze. No comp if they were the only carrier in that zip. In 2013 when carriers were prohibited from declining child applications one carrier countered by paying $0 on any family plan where one person was max rated and/or GI. I stopped sending family applications to them.
Plus they found new ways to poach business. Client calls to make address or bank change . . . or just to ask a question. BAM! They are now a house account.
I lost over 30 clients in early 2014 because of poaching. Neither I nor my client knew about it until I tallied my commissions and was coming up short. That was in March and April.
That's when I washed my hands of the U65 business and never looked back.
Rugby1969
New Member
- 11
I sell both u65 and Medicare. ACA is pretty robust up here in Michigan. Most of the carriers pay decent comp still. More importantly, the u65 business leads to Medicare Age ins. A few every month!
- 15,319
- 15,319
There's another GA agent that is convinced that accident plans and ACA might be the way to get rich quick (again). You might want to contact him and see if he'll help you make lots of money running quotes.
Ricki
- Thread starter
- #38
- 5,933
My appt paperwork just got submitted this morning. Will be active in time for her to start 11/1.
- 1,432
I always thought the promise that it would be affordable and deficit neutral was the bigger lie.
Can't have both.
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