- Thread starter
- #11
- 500
Thanks all for the great conversation. Dave, I will be curious to see where things stand after the 19th.
Selling Outside the Exchanges
- Thread starter insurehound
- Start date
- 3,384
Here you go!
http://www.healthexchange.ca.gov/BoardMeetings/Documents/CHBE_July19,2012BoardMeetingAgenda.pdf
Item VIII C - Individual Exchange: Agent Payment Options
Page 2 gives the toll-free number to call in and make comments and also the link to view the live web cast
CAL-SPAN Streaming Video Home Page.
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I also want to ammend earlier comment regarding 2-3% on IFP. Was talking to a carrier rep today who thinks that will be too low (it won't be HIPAA level) and should be around current rates since the are already fine on MLR.
We'll see what Peter Lee decides on Thursday.
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- Thread starter
- #13
- 500
Mulling through some of the California Exchange research, I found this gem:
Some had shopped for insurance in the past, either at a place of employment or on their own. Most preferred to shop on the web as opposed to through brokers (who they viewed as expensive middlemen) or social service providers.
Some had shopped for insurance in the past, either at a place of employment or on their own. Most preferred to shop on the web as opposed to through brokers (who they viewed as expensive middlemen) or social service providers.
- 3,384
Probably true but remember exchange shoppers in CA are going to have to reveal a "tad" more information that they have had to in the past.
I expect many, especially at somewhat higher incomes, may balk at the idea of what they will have to reveal on a web site to buy in the individual exchange (think your tax return information plus a mortgage loan plus more).
- 1,896
I love the misinformation that's out there, that we add to the cost. All rates are established by the DOI, and every broker is the same - as it going direct.
Where is NAHU again in working for us?
Where is NAHU again in working for us?
- 4,096
80% of the population is going to qualify for some type of subsidy.
So that give us the 20% of population under 65 to sell to. This is assuming that they do not have access to employer sponsored plans.
The people that will be buying plans outside the exchange are going to have household incomes over $80,000. I believe that the major carriers will operate 2 portfolios of products. One in the exchange and one outside.
Bottom line! If we are unable to be compensated fairly through the exchange our business model is dead.
So that give us the 20% of population under 65 to sell to. This is assuming that they do not have access to employer sponsored plans.
The people that will be buying plans outside the exchange are going to have household incomes over $80,000. I believe that the major carriers will operate 2 portfolios of products. One in the exchange and one outside.
Bottom line! If we are unable to be compensated fairly through the exchange our business model is dead.
- 9,744
I'd say your business model is dead then.
- 14,808
What's the comp through auto again? Like 10%? What's the average individual auto premium? I believe something like $800 - or $80 1st year commission?
If I'm wrong please let me know - I actually don't know it.
What the average homeowner's commish and premium? Yet these insurance industries thrive and somehow, selling health is "dead" unless agents can make $800 per case?
If you notice, one of the most dead forums on this site is P&C. Why? They actually work all day. The ugly truth is if agents selling health can't be on World of Warcraft all day while knocking out 3 deals a week for $1,500 commish, then they're out of the game.
If I'm wrong please let me know - I actually don't know it.
What the average homeowner's commish and premium? Yet these insurance industries thrive and somehow, selling health is "dead" unless agents can make $800 per case?
If you notice, one of the most dead forums on this site is P&C. Why? They actually work all day. The ugly truth is if agents selling health can't be on World of Warcraft all day while knocking out 3 deals a week for $1,500 commish, then they're out of the game.
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- 8,707
Crabcake Johnny said:
Spoken like a true leader of the health game. An Unlicensed veteran to be sure.
