UHC, They Are Releasing the News Monday....possibly Today

[AllenChicago]

I have heard the same news, from trusted sources.

It's funny that they say it won't affect their STM or Ancillary lines! Are they kidding? I can't imagine what this will do to the reputation of the entire United Healthcare line!

It was an AGENCY which penned that advance notice of what UHC is going to announce. These days, many (most?) agencies earn more money from the ancillary products sold by agents, than they do from overrides on QHPlan sales.

I'm sure when United Healthscrew issues their formal written announcement, it will contain mention of their Injury, Dental, Critical Illness, etc.. plans not being affected. They'll urge us to sell those products and add a big at the end of the announcement.

 

[saintstigers]

I wonder if uhc covers dialysis? I have some kidney patients that are on silver 94% plans that are renewing.

 

[taterpeeler]

Just pumped 3 arthritis patients with 6K a month injectable drugs their way.... hehehe.... we will bring you to your knees UHC

 

[Yagents]

13 days into OEP...........really? At least Assurant waited til first of the year. And at least Assurant has paid me every cent owed, and didn't retroactively take back or reduce commissions.

I hear UHC is talking about retroactively reducing commissions (renewal and recently written business). Nothing has been finalized.

They only have to pay the same commission for the exact same product ON and OFF exchange. We all know, they have no such thing with every state having 2 different company silos.

They sit out mostly year 1, playing in 5 states. (but had claim history).
They expand in year 2, and had 2 quarters of claims before coming out with a commission schedule.
Year 3, they were so proud about their expansive "national footprint", and know what guarantee issue means.

IFP probably represents less than 5-10% of their income/profits, they have plenty of other profitable segments to offset losses.

Profits continue to rise each and every quarter, along with the stock price.
Even with any massive losses, they will still turn out a record profit in all probability.

Then they have the gall to take us out first, when not 1 person at that firm will lose 1 red cent of their own income.

I'll ask every UHC interested person to call UHC, and overload their phone systems. Let's show them how much we take off their staffing requirements.

At the end of the day, an agent assisted client, is an educated client, who knows who to extract the most out of the policy benefits. We cost them money in more than one way. I guess they only want the uneducated dumb clients who strictly buy on price, and don't include their doctors/meds.

I guess I'll make my money back by going long UNH stock, and short EHTH stock.

 

[somarco]

Looks like EHTH hit a high around $60 in Jan 2014 and has been tanking since. Closed at $11 on Friday.

 

[FLM2]

13 days into OEP...........really? At least Assurant waited til first of the year. And at least Assurant has paid me every cent owed, and didn't retroactively take back or reduce commissions.

I hear UHC is talking about retroactively reducing commissions (renewal and recently written business). Nothing has been finalized.

They only have to pay the same commission for the exact same product ON and OFF exchange. We all know, they have no such thing with every state having 2 different company silos.

I can't even begin to imagine the uproar from the agent community if UHC decides to penalize us by violating the existing contract and lowering commissions for business we've already written. As Yagents said, Assurant waited until the end of the initial OEP period, honored their commitment in full, and has paid me every dollar owed (and it was substantial as I was one of their top national producing agents).

My response, after filing a complaint with the Department of Insurance as well as the Federal Trade Commission and any other government agency that might be appropriate would be to move all of my groups currently on UHC to other carriers as well as take UHC off my list of Medicare carriers.

I would also lift the veil with my clients and let them know how little UHC values their agents and, if that is the case, how much would they value their subscribers should a major claim be filed.

I would recommend that others do the same should this occur.

 

[pbbaseball]

I wonder if uhc covers dialysis? I have some kidney patients that are on silver 94% plans that are renewing.

I have a feeling all of my mid yr sep customers that need a lot of benefits will be pushed their way.

Just envisioned my new direct mail piece.... "Do you have diabetes, cancer, heart problems, or other expensive health conditions? We have low to free plans available in your area, get all of your medical expenses paid for $500 a year plus clawbacks!"

 

[saintstigers]

I can't even begin to imagine the uproar from the agent community if UHC decides to penalize us by violating the existing contract and lowering commissions for business we've already written. As Yagents said, Assurant waited until the end of the initial OEP period, honored their commitment in full, and has paid me every dollar owed (and it was substantial as I was one of their top national producing agents). My response, after filing a complaint with the Department of Insurance as well as the Federal Trade Commission and any other government agency that might be appropriate would be to move all of my groups currently on UHC to other carriers as well as take UHC off my list of Medicare carriers. I would also lift the veil with my clients and let them know how little UHC values their agents and, if that is the case, how much would they value their subscribers should a major claim be filed. I would recommend that others do the same should this occur.

aren't carriers required to give at least 30 days advance notice for commission changes? Agents as a whole need to take some action against UHC, because they're probably betting that we'll just take it. Class action suit?

 

[HelpingPeople]

Well, when they post it again and if the percentages are drastically reduced, send them all the highest medical utilization consumers. Drive UHC out of the IFP market, and out of our hair, totally.

Interesting concept.

 

[houcoogster]

There's an old saying "don't be penny wise and pound foolish".

The way I see it is whatever there might be to gain from picking the agents pocket on a few more percentage points will be MORE than offset by increased claims, less business being written from more profitable lines, less business from young healthy folks and lastly a massive amount of negative PR both in the agent community and the general public.