Selling Individual Health by Phone

Feb 16, 2016

  1. Trotter
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    I am looking at an opportunity to sell individual health insurance by phone
    I have not been in the individual health market for some time; have been in other L&H fields
    This agency sells a lot of Short Term Medical between open enrollment seasons. Regardless of whether the client qualifies for a special enrollment, if they qualify for a plan medically, they save so much money on premiums that it becomes worth giving up any premium subsidies they might be eligible for.
    The agency also sells gap plans, which is definitely appropriate.
    I thought I might check out who else might be doing pone/internet health insurance sales, either in the individual underage market or for medicare
     
    Trotter, Feb 16, 2016
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  2. DS4
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    Let me see if I get this right.
    Take for example, someone losing employer group coverage, eligible for exchange plan w/subsidies, you would be inclined to sell short term medical to this person?
     
    DS4, Feb 16, 2016
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  3. Chazm
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    And I'm pretty sure STM pays peanuts right?
     
    Chazm, Feb 16, 2016
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  4. DS4
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    And, STM is not MEC. Therefore, pay the IRS penalty.
     
    DS4, Feb 16, 2016
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  5. somarco
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    Pays more than $0 which is what most Ocare plans pay for SEP biz.
     
    somarco, Feb 16, 2016
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  6. HealthBroker
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    Selling Individual Health by Phone

    I can help . . .pm me.
     
  7. AllenChicago
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    Yep..like 20%-30% more, LOL. We should be paid 50%. They are an unbelievably lucrative product for insurance companies. In fact, there's a report that shows how small a percentage of STM plans ever pay a dime in medical care. I'll try to find it, and post it in an appropriate thread.
     
  8. Chazm
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    I've done a couple of stm plans and it just seemed like a lot of work for a one time $60-80 commission. It's like selling a medigap plan when you know they are cancelling in 6 months.
     
    Chazm, Feb 17, 2016
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  9. HealthBroker
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    If you are only making $60 dollars then you might want to relook at what you are selling. STM's are very lucrative. There are a couple of other things to consider:
    1. At the end of the six month period you have a new sale again.
    2. You can add Dental or a CI plan to the sale.

    So much better then selling 0% plans . . .besides its the only thing available now unless your client has an SEP . . .the you had really better make it a combo sale or you are really doing missionary work.

    Glass half full . . .not half empty. :yes:
     
  10. somarco
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    Better for whom? Policyholder or agent?
     
    somarco, Feb 17, 2016
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