The State Farm Blues......

[Yagents]

I wonder why texas was left off the HCSC list?

State Farm agents to sell Blue Cross policies | Chicago

The state's largest health insurance company is teaming up with the nation's largest home and auto insurer to sell health care policies this fall, the companies announced Tuesday.

More than 3,300 agents for Bloomington-based State Farm will exclusively sell Blue Cross and Blue Shield individual health policies to customers in Illinois, Montana, New Mexico and Oklahoma starting Nov. 15. Those plans would kick in on Jan. 1.

"State Farm's presence is both broad and deep in these states and, as a result, we will have the single largest network of dedicated insurance professionals resident in their communities," Jeff Tikkanen, president of retail markets for BCBS parent Health Care Service Corp., said in a news release.

State Farm agents will market health insurance plans both on and off the Affordable Care Act health insurance exchanges.

 

[houcoogster]

If I'm not mistaken SF TX was selling BCBSTX last year. So maybe they just opened up the other States.

Personally I think this is a bad idea because when their clients health premium spikes or the bills don't get paid they will take it out on them by switching the auto and home to another company.

 

[AllenChicago]

This arrangement started last year.
Ref: http://www.insurance-forums.net/for...farm-agents-now-selling-obamacare-t68834.html

Not sure how successful it was though. BCBS-IL lost market share in-spite of State Farm's involvement.

KGMom, HouCoogster, TaterPeeler, MaryDallas, et.al., have cornered the BCBS Texas market. Nothing left for State Farm agents this year..not even a crumb.

 

[taterpeeler]

Screw State Farm..... Just wait till i light one up about being a part time rookie in the baca market then have the sap sucker call me and i have to adjust his attutuide... just did that today on a case my CFP buddy called me on.... He admitted he had another agent friend as his referral source and the agent gave bad advice that cost the lady an SEP... so state farm clowns, come get you some

 

[bluediamond]

Here's the additional states that the blues are taking on sf agents.

Blue Cross® And Blue Shield® Companies And State Farm® Affiliates

 

[FLM2]

Here's the additional states that the blues are taking on sf agents.

Blue Cross® And Blue Shield® Companies And State Farm® Affiliates

This agreement supports the notion that commissions will be around for the foreseeable future-State Farm would not enter into a program like this without a long term commitment from BCBS in all of these states.

 

[Post Quartermaster]

This agreement supports the notion that commissions will be around for the foreseeable future-State Farm would not enter into a program like this without a long term commitment from BCBS in all of these states.

Fair point.

I noticed the Forbes article on the State Farm/Blues partnership also mentioned South Carolina as a state where BCBS & State Farm partnered to sell ACA plans. Which is odd, because my local State Farm offices sends their ACA prospects to our office.

 

[kgmom219]

Fair point.

I noticed the Forbes article on the State Farm/Blues partnership also mentioned South Carolina as a state where BCBS & State Farm partnered to sell ACA plans. Which is odd, because my local State Farm offices sends their ACA prospects to our office.

I get referrals from State Farm agents. Its agents with enough health to meet their quota, but they really don't want to do it. I plan on doing some calls "Do you really want to deal with the PPO mess? Why don't you send those people to me?" this fall.

 

[FLM2]

Fair point.

I noticed the Forbes article on the State Farm/Blues partnership also mentioned South Carolina as a state where BCBS & State Farm partnered to sell ACA plans. Which is odd, because my local State Farm offices sends their ACA prospects to our office.

I feel like I have overreacted (to some extent) about commissions on IFP-it seems to me they will be around for longer than we think but with a PMPM model rather than percentage-this way the companies get to lower commissions each year (due to premium increases) without it seeming like they are cutting, it's the same thing as MAPD plans, we get $208 for ongoing renewals which is in the 2% commission range.

I don't think the new structure is inviting to new agents looking to make a career out of it but for those with an existing book of business it at least provides an ongoing revenue stream while either continuing to expand the book or move into other areas (like Medicare, which many of us already do).

 

[AllenChicago]

Once the dust settles with the many premium and PPO adjustment requests pending with state DOI's and HHS, we'll know which companies value their agent channels. I don't think many insurers have announced the 2016 IFP commission schedule yet.. or even confirmed that it will be unchanged from 2015.

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Health Care Service Corporation (HCSC) says that the Blue Cross-State Farm alliance has generated 24,000 new members across 5 states.

Story: An alliance with State Farm yielded 24,000 new members for Blue Cross and Blue Shield New Mexico's parent company Health Care Service Corp. - Albuquerque Business First

The article also says that BCBS-NM rate increase request for 2016 was denied, so it probably will not be selling in New Mexico next year.