Switch to Selling Health Unwise Now?

[insurancecareer]

Currently, I am a captive agent selling commercial and life insurance. The commercial rates are not competitive, so selling is a struggle--as is pivoting to life insurance afterwards. I may have an opportunity to join a local brokerage agency, but it will be selling life and health. I can market fairly well to businesses, so getting appointments for group benefits does not bother me. I am concerned about what the Affordable Cares Act will mean for privately marketed health insurance. What do you forum members think will play out? I appreciate any insight.

 

[stuy119]

If you don't have a background in health insurance, a strategy for getting in front of people (mass quantities of individuals or assured quality businesses), and have been following legislative updates from HHS, CMS, and other regulators, it's going to be tough.

That's not to say it can't be done, but you need to start NOW in studying. You have no time to think it over, you either need to make the jump or sit tight. There are a lot of moving pieces, and you'll get lost in the wash if you have to ask too many questions.

 

[RayNY]

All of our crystal balls say something different.

This may prove to be a windfall opportunity for some agents, plowing through a years worth of business in the OEP and relaxing all year collecting commissions. We may have a deluge of customers seeking our assistance, with binder checks in hand.

On the flip side, we may not get compensated, or people may prefer online portals to humans, or submission may be so daunting that it's not worth the effort for what we get paid.

We all have our own guess on what will happen, but we'll all agree it's not the safest time to get into health.

 

[LOM58]

I know of several successful younger employee benefits agents that have left this business because they did not want to continue investing in a career that might disappear well before they were in a position to retire. We can all guess, but it certainly does not seem to be the time to get in. Unless joining the local brokerage agency is an offer you can't refuse, it might be worth waiting a while to see how things play out before jumping in. Next year is going to be pivotal in revealing how Obamacare will really impact health insurance. If things work out so that agents can still have a prosperous career in this business, the opportunity will still be there for you when the curtain is finally drawn.