Small Group Health Insurance-Anybody Staying?

[mnmjski]

Everyone was so helpful 3 years ago when I left my agency after 14 years to start my own. I really should be more active here. Lots of advice to offer from IL.

Now with Reform, exchanges and cut compensation my small group health block of business may be worthless in 2 years. Sure I do individual health, life, LTC, dental, vision and Med. Supps, but 85% of my revenue is small group health. Anyone else in the same boat? Could offer business insurance, but don't have any contracts. Need the contracts for personal lines as well. Thoughts are appreciated...

 

[somarco]

No crystal ball, and my Magic 8 Ball is on loan, but I think the small group market will all but go away in 2014 replaced by individual plans.

That being said, it is not clear if agents will be able to earn comp on individual sales, inside or outside the ExChange.

 

[mnmjski]

No crystal ball, and my Magic 8 Ball is on loan, but I think the small group market will all but go away in 2014 replaced by individual plans.

That being said, it is not clear if agents will be able to earn comp on individual sales, inside or outside the ExChange.

Yeah it's clear that nothing is clear, but what are other brokers doing?

 

[Dave020]

Word from both Blue carriers out here is that the 2-19s are the most likely to disappear in 2014.

 

[ABC]

Wellpoint is saying the same thing.
They are not worried about competition in the small group market but that small group will go with out.

The defined contribution plan could end up being the new small group plan. So essentially we will be selling individual on a HRA platform for small group.

There will be multiple private exchange plans to sell.
If comp goes is reduced how much service will be available to the client?

1st of the year I am going to meet with MGA and look at offering workers comp. I think workers comp might be similar to group health.

 

[arnguy]

My advice is to get out of the small group market----NOW!