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- #11
VA Bday rule
- Thread starter vic120
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Just a wag, but probably on par with Obamacare and MA plans where underwriting is not an obstacle . . . but the premium is almost assuredly a problem.
MSLLC
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- 18
I hope NABIP gets more involved and prioritizes this in every state with a birthday rule bill/proposal rather than chasing the best commission to stay in business. I've joined and even asked my clients to submit their stories through the links they set up after the Wellcare disaster.
There was a hearing in MD yesterday. The changes were not opposed, and they said the "industry " did not object, but it's hard to tell what that means—carriers, brokers, etc.
I agree with @cmlynch100. If not handled properly, this is a massive threat to our business. Representing my client and being able to offer most major carriers impartially has been the foundation of my business.
There was a hearing in MD yesterday. The changes were not opposed, and they said the "industry " did not object, but it's hard to tell what that means—carriers, brokers, etc.
I agree with @cmlynch100. If not handled properly, this is a massive threat to our business. Representing my client and being able to offer most major carriers impartially has been the foundation of my business.
Many (most?) of insurance changes have reduced/eliminated agent comp. Carriers would like to eliminate most of the agents, especially the lazy ones that churn, bend the rules, etc to write business.
A number just throw up apps and see what sticks. Follow up after the sale is non-existent. No attempt to provide client services.
Cutting commissions and looking for other ways to write business direct is nothing new . . . but carriers are becoming more creative with ways to reduce/eliminate the deadbeat agents whose only goal is to maximize their comp.
They are also finding new ways to make the product look attractive to the consumer (as well as the casual agent) by putting forth an inferior product with high profit margins.
I have seen these changes too many times to think this is an anomaly.
A number just throw up apps and see what sticks. Follow up after the sale is non-existent. No attempt to provide client services.
Cutting commissions and looking for other ways to write business direct is nothing new . . . but carriers are becoming more creative with ways to reduce/eliminate the deadbeat agents whose only goal is to maximize their comp.
They are also finding new ways to make the product look attractive to the consumer (as well as the casual agent) by putting forth an inferior product with high profit margins.
I have seen these changes too many times to think this is an anomaly.
The "offer carriers impartially", in my opinion, is very important if we are going to be able to find the best match between the client and what they end up with. There are a handful of people posting on here that state that they won't sell products from some companies due to commissions.
The "no win" of course is that while people need to make enough money, limiting what they sell for that reason may mean that the client doesn't get what is best for them.
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- #16
Without agents Med supp is dead
Most would end up with the worst MA plans not know what they were doing on them
Even with an agent MA world is an ever changing mess
I have a client now, he had Aetna, I moved him to UHC
Because of the news he wanted to move back to aenta
I told him there were changes and the drug cost on tier3 and 4 meds are much higher this year
He said he did not care he wants Aetna back because UHC does not pay for Nuffin, though he could not give me any examples
Now he is prescribed Janumet and is dumbfounded he has to pay so much
Most of these carriers are moving to overseas Customer service
even as the Agent I had a resolution on an issue and they don't care no one I speak with understands English and I am square one on a client bill
When the Agent is out of the picture the client will have no help
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A customer service agent in the Philippines didn't want to deal with a complicated issue and stated an earthquake was happening, he had to hang up and leave the building. Nope. No earthquake that day in the Philippines. I checked the international earthquake sites for several days to see if one had shown up.
No doubt . . . many agents don't understand, other than the premium, the difference in Medigap vs MA. And they only know how to take orders for "free" stuff. They never learned how to offer something where you had to ask for a check.
My barber said the same thing today. He has Anthem G, wife has UHC G. He said every time she goes to the doc he has to pay something. When he goes, he pays nothing.
At least that is his story.
He is Greek and I have enough trouble trying to understand him, much less engage in a conversation about Medicare.
You need a new barber.
Mine has a G also. I sold it to him.
But mine speaks fluent english.
And that my friends is exactly how the Companies want it.
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