So I hear Cigna is going to

[Crabcake Johnny]

Re: And Now the Commission Reductions Begin

They can ditch child only, but there's zero comp on a family case if an applicant is under 19 since the child is GI after Sept 23rd.

 

[CHUMPS FROM OXFORD]

Re: And Now the Commission Reductions Begin

So...Why not write the child with Cigna and the rest of the family with another carrier? Will Cigna take child-only plans?

 

[Crabcake Johnny]

Re: And Now the Commission Reductions Begin

I guess it's an interesting move that Cigna wants independent agents to take healthy cases to other carriers.

 

[dgoldenz]

Re: And Now the Commission Reductions Begin

Ouch. Time to rev up the life insurance bandwagon...

 

[Crabcake Johnny]

Re: And Now the Commission Reductions Begin

Really? Most health agents I knew who tried to switch to selling life would have made more operating the sour cream gun at Taco Bell.

 

[dgoldenz]

Re: And Now the Commission Reductions Begin

I've always sold life, now I'll just sell more of it if I have to stop selling health. Normally I take care of the health side and my dad takes care of the life side. We can just double up on the life if need be.

 

[CHUMPS FROM OXFORD]

Re: And Now the Commission Reductions Begin

Just got off the phone with Cigna and obviously they are fielding a lot of calls this afternoon! They said they don't expect brokers to write this type of Cigna business any more but they do expect this type of risk to apply with them direct.

And they do not write child-only plans.

 

[Jabez]

So I hear Cigna is going to screw us out of a commision

Provisions of the recently enacted Patient Protection and Affordable Care Act (PPACA) have necessitated changes in order for CIGNA to remain cost competitive. As a result, effective October 1, 2010, commissions will no longer be paid on any Individual & Family Plan policy containing one or more Guaranteed Issue customers.


Effective October 1, 2010, this change will impact:

•Existing policies covering one or more persons on a Guaranteed Issue basis
•New policies covering one or more persons on a Guaranteed Issue basis

 

[Crabcake Johnny]

Re: And Now the Commission Reductions Begin

Again, so agents take their healthy clients and put them with carriers who will offer comp and the cases where Cigna offers nothing.

Interesting move. I wonder how that will play out for them.

 

[dgoldenz]

Re: And Now the Commission Reductions Begin

I'm waiting for other companies to follow suit. Then the phone calls to leads will be "Oh, your son is bipolar? Sorry, I don't get paid on those cases. Have a nice day though." Agents will be hanging up on prospects instead of the other way around...