They're Coming Out of the Woodwork

[bill3173]

Isn't health insurance supposed to be a career with an uncertain future?

This widely held belief, and predictable competition has made me deleriously happy this summer. I've cranked out more apps than any one prior, and that hasn't changed, but there are more assholes joining in.

Even some of the dedicated life and p&c agents that I know have hopped on board.

It doesn't appear to be simply a surge in the unemployed trying something new, but I could be wrong.

 

[djs]

From the outside looking in, it's easy to get parts of various bits of the story and make it look attractive:

- 20% commissions
- Soon to be guaranteed issue
- 'Must-have' product
- Government subsidies if you can't afford it
- Residual income
- 30 Million people need to be enrolled
- Penalties if you don't buy it

What is not to LOVE with health insurance as your new career?

Now, for a moment of reality....
I think similar to how many health insurance agents are looking to broaden their product lines, with P&C being VERY slow for agents right now, marketing health is an easy addition to their portfolio. For life agents, policies are lapsing because people are losing their homes and not paying bills. Health looks like an easy way to broaden their portfolio as well.

So, we have a circle. Health agents are getting into P&C, P&C agents are getting more into health, life agents are still a bit clueless (sorry to all the life agents out there) and will try anything.

Really bad case of the grass is greener in someone elses pasture.

Dan

 

[bill3173]

From the outside looking in, it's easy to get parts of various bits of the story and make it look attractive:

- 20% commissions
- Soon to be guaranteed issue
- 'Must-have' product
- Government subsidies if you can't afford it
- Residual income
- 30 Million people need to be enrolled
- Penalties if you don't buy it

What is not to LOVE with health insurance as your new career?

Now, for a moment of reality....
I think similar to how many health insurance agents are looking to broaden their product lines, with P&C being VERY slow for agents right now, marketing health is an easy addition to their portfolio. For life agents, policies are lapsing because people are losing their homes and not paying bills. Health looks like an easy way to broaden their portfolio as well.

So, we have a circle. Health agents are getting into P&C, P&C agents are getting more into health, life agents are still a bit clueless (sorry to all the life agents out there) and will try anything.

Really bad case of the grass is greener in someone elses pasture.

Dan

Good answer Dan, it reminds me of why I helped you get elected president of the board in the first place.

 

[HealthGuy]

residual income will be gone with GI as well as 20% commish, why would anybody start into this car NOW?

 

[thall]

Read the ads! Sit in your underware and write 8 cases a week. How can you go wrong?

 

[Michele120]

I'm an independent health insurance agent with 23 years experience. I am looking for alternative income sources. In the last 30 days, I have gotten notices from every health insurance company I am appointed with. They have all informed me that they are going to cut commissions for all policies written after January 1, 2011.

The 20% commissions are not going to last much longer. They are going to be cut in January and be eliminated completely in 2014. Today's independent health insurance agent will have to become a government employee if the wish to sell health insurance in 2014 and qualify for a Navigator contract. There will be no commissions for major medical health insurance for people under age 65 unless Obamacare is modified.

 

[Crabcake Johnny]

Odd. None of my carriers have stated that they are cutting commissions.

 

[CHUMPS FROM OXFORD]

"Today's independent health insurance agent will have to become a government employee if the wish to sell health insurance in 2014 and qualify for a Navigator contract. There will be no commissions for major medical health insurance for people under age 65 unless Obamacare is modified."

Not really. I'm hanging in there. Between now and 2014 I'll re-tool just in case. But I think that many of us will be OK in 2014.

 

[Expat]

Odd. None of my carriers have stated that they are cutting commissions.

Strange, I am also in Texas and have not received the first communication with any of the companies I write for.

 

[insagt]

NJ has been GI for a dog's age. Commissions? Small Group, typically under 100 lives, will get you anywhere from 5.5% - 2% commission depending on carrier. Individual Health? A joke ... $12-$13/month ... premium doesn't factor into the calculation. I think the Service Reps at the companies make more than I do for taking an Individual app. I think NJ may see a surge in IHC apps thought once employers start cancelling their policies. It's really cheaper for them to get hit with a one time $1000 or $2000 fine per head than carry a policy. Beats another year of 20-30% increases like we've seen here over the last 5 years.