The Commission Change Has Messed Me Up, Need Help!

[Renosausage]

So you work hard for one income and use that income to spend on FE leads so you can then work even harder on another income. With all due respect Sir you have lost your mind. FE is a whole nother problem child....you will soon find out.

I know somewhat of how different FE can be, but I had found UHC much easier to sell.

I would love to sell FE full time, but I can't see how someone can start fresh unless they buy some leads.

I could cold call every person, but the amount of calls it takes to sell FE cold calling is overwhelming for me.

So I have no choice but to create a stream of income aka ACA Express, to fund my attempts at FE for the coming year.

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Just because you weren't successful at something, doesn't mean many others are not. I work during ACA during OEP, Medicare during AEP, work T65s during the year and sell A LOT of FE. Ann's advice was on point. When your commission gets cut, find other income streams.

Thanks mmike160!

I guess my battle plan doesn't sound too crazy. I was wondering if other agents sold multiple lines throughout the year.

What tips would you give in trying to sell ACA Express?

Keep in mind my target market are counties 2-3 hrs away from me. UHCs commission cut makes their product too cheap to deal with and yet its the only affordable insurance in my area.

 

[pbbaseball]

I know somewhat of how different FE can be, but I had found UHC much easier to sell.

I would love to sell FE full time, but I can't see how someone can start fresh unless they buy some leads.

I could cold call every person, but the amount of calls it takes to sell FE cold calling is overwhelming for me.

So I have no choice but to create a stream of income aka ACA Express, to fund my attempts at FE for the coming year.

----------

Thanks mmike160!

I guess my battle plan doesn't sound too crazy. I was wondering if other agents sold multiple lines throughout the year.

What tips would you give in trying to sell ACA Express?

Keep in mind my target market are counties 2-3 hrs away from me. UHCs commission cut makes their product too cheap to deal with and yet its the only affordable insurance in my area.

We do a ton of health business using predictive dialers and direct mail programs for health. There are several states that you can make good money selling aca. Most of my guys are transitioning to Blue Cross of South Carolina. They can be difficult to get appointed with if you are interested let me know. I own a direct mail company and do leads at cost. Most people it works out very well for them. Easy to sell over the phone especially using a web entity

 

[Renosausage]

We do a ton of health business using predictive dialers and direct mail programs for health. There are several states that you can make good money selling aca. Most of my guys are transitioning to Blue Cross of South Carolina. They can be difficult to get appointed with if you are interested let me know. I own a direct mail company and do leads at cost. Most people it works out very well for them. Easy to sell over the phone especially using a web entity

Do you sell those leads?

A good lead house and a group of predictive dialers are two investments we want to look into heavily next year especially for FE.

Ultimately it would be nice to do all that in-house.

Im already appointed for BCBS in SC. I've just never sold any, but I definitely need to start looking at those areas. The next county south of us is SC.

 

[Renosausage]

Well today I decided to pour all my effort towards SC and in counties where BCBS sells cheaply.

For cold calling I was able to sign up 5 people today.

Not nearly as many compared to UHC, but it's still a decent income for only 3 months.

Hopefully it will begin to snowball a little and the referrals will increase.

For now it looks like I'll be staying with BCBS.

 

[mmike160]

=

Thanks mmike160!

I guess my battle plan doesn't sound too crazy. I was wondering if other agents sold multiple lines throughout the year.

What tips would you give in trying to sell ACA Express?

Keep in mind my target market are counties 2-3 hrs away from me. UHCs commission cut makes their product too cheap to deal with and yet its the only affordable insurance in my area.

When many of us started doing health insurance, commission was 20% a case, big quarterly bonuses and incentive trips. Those days are long gone. I write health insurance as a courtesy for my existing client base, but am not looking expand.

Why, because the commission is terrible, likely to get worse and the market is extremely turbulent.

My best advice is to focus on really learning FE. At 110%-120% commission and with a good work ethic, one can really build a nice book of biz.

Health Insurance changes have been easier to weather, without all my eggs in that basket.

 

[Ann H]

One thing I might warn you against, is the idea you had to "dabble in group insurance in the summer". Group insurance involves talking to business owners, CPAs, and other business advisors. It's harder to break into than family insurance. It often takes a few months to cultivate a client, and often a few years for larger groups. I would keep that as an idea after you have a few hundred clients in your book of business.

 

[AllenChicago]

One thing I might warn you against, is the idea you had to "dabble in group insurance in the summer". Group insurance involves talking to business owners, CPAs, and other business advisors. It's harder to break into than family insurance. It often takes a few months to cultivate a client, and often a few years for larger groups. I would keep that as an idea after you have a few hundred clients in your book of business.

ANN,

I haven't written a small group policy since 2007. Two quick questions. No need to invest much time responding. I know you're busy.

There's an Open Enrollment underway where we can write down to a 1 person group, with no minimum employee participation requirements. (Nov 15th - Dec 15th.. BCBS..Non-SHOP)

1. Is small group (less than 25 employees) more labor intensive for the agent, or do they (the company) tend to call directly to the health insurance company to make family and coverage modifications?

2. Where you live (AZ), would an agent earn more money in 12 months from a 20 employee group, or 20 indiv/fam polices? Is it still true that Group commissions don't decline after the first 12 months?

Thanks in advance Ann!

allen

 

[Ann H]

ANN,

I haven't written a small group policy since 2007. Two quick questions. No need to invest much time responding. I know you're busy.

There's an Open Enrollment underway where we can write down to a 1 person group, with no minimum employee participation requirements. (Nov 15th - Dec 15th.. BCBS..Non-SHOP)

1. Is small group (less than 25 employees) more labor intensive for the agent, or do they (the company) tend to call directly to the health insurance company to make family and coverage modifications?

2. Where you live (AZ), would an agent earn more money in 12 months from a 20 employee group, or 20 indiv/fam polices? Is it still true that Group commissions don't decline after the first 12 months?

Thanks in advance Ann!

allen

I always have time to respond to your posts, Allen! You contribute so much to this forum, and it is greatly appreciated.

The participation holiday November 15th to December 15th, is available on and off the shop exchange, from what I understand.

The "1 life group" is state specific, because it depends on how your state defined "small group" after the PACE act was passed a few weeks ago. Our state defines it 2-50 now, but some states define it as 1-100. If so, this definition applies all year long, not just during the participation holiday.

A group plan pays more than a group of individual family plans. The commission tends to be a little better, is usually flat, and there are bonuses. Group is profitable for most carriers, and IFP is not. However, in some states, and with some carriers, "Micro Groups" of 2-4 enrolled employees can have a very low commission rate.

Most groups do much of their own administration, and use online tools, or call the insurance company directly. They call us occasionally, but nothing like they used to. It's not labor intensive. Since the renewal dates can be spread throughout the year, it's not like today's IFP where every case renews 1/1/2015!

 

[pbbaseball]

Do you sell those leads?

A good lead house and a group of predictive dialers are two investments we want to look into heavily next year especially for FE.

Ultimately it would be nice to do all that in-house.

Im already appointed for BCBS in SC. I've just never sold any, but I definitely need to start looking at those areas. The next county south of us is SC.

Sorry, I don't sell them outside of my downlines. I do my downlines leads at cost, and make money off the overrides. Glad you picked up sc and ran with it!

 

[Renosausage]

Sorry, I don't sell them outside of my downlines. I do my downlines leads at cost, and make money off the overrides. Glad you picked up sc and ran with it!

Hey thanks!

I'm going to keep running with SC to the end of ACA.