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Does anyone sell Individual & Family health plans in Washington state? I don't have anyone on my "need an agent" thread. I know WA is a GI state, is it best to use an agent or just have people call Premera or Regence?
Washington State IFP Agent
- Thread starter Dave020
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The door on IFP In Washington state closed in the 90's.
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- #3
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I thought that might be the case. So do people in WA just call Premera or Regence when they need an IFP plan?
- 4,707
Here is an example of the Regence commish schedule,
IFP $12 PMPM
Medicare supps Level 10%
Group 1-2 insureds $0
3-4 " $5 PMPM
5-9 " $30 PMPM
Who could make a living on that??
IFP $12 PMPM
Medicare supps Level 10%
Group 1-2 insureds $0
3-4 " $5 PMPM
5-9 " $30 PMPM
Who could make a living on that??
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Yea, health insurance sales here aren't a get rich prop.
As someone pointed out small group (micro) no longer pays a commission. individual is a relatively low commission product. I do sell it, but I don't actively pursue health sales the way some of you guys do. The payoff is not there.
Doesn't mean I don't place health leads, but they have to come to me more than I come to them.
I've done some health lead $1 buy ins for WA and even those are too expensive as the person doing those is just looking for something the market doesn't have...free.
As someone pointed out small group (micro) no longer pays a commission. individual is a relatively low commission product. I do sell it, but I don't actively pursue health sales the way some of you guys do. The payoff is not there.
Doesn't mean I don't place health leads, but they have to come to me more than I come to them.
I've done some health lead $1 buy ins for WA and even those are too expensive as the person doing those is just looking for something the market doesn't have...free.
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- #6
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I just sent someone your contact information. She needs a WA health plan as she is currently living in WA and change residency to WA soon.
I expect if you sell her a full 50% split on commission on this
(just kidding) Maybe you can help her.
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My Blue Shield CA RSM used to work for a broker in WA and she has tried to explain it to me. From what I understand you have to apply for underwritten then, if declined, they issue it on a GI basis (at the same price?). LGilmore can explain it better.
I was going to ask for 60% but figured that would be a greedy SOB
I was going to ask for 60% but figured that would be a greedy SOB
- 4,132
Depending on how she is currently insured, she may be able to wingwalk to a new plan, or fill out a health questionnaire (327 questions) that has each condition scored. The goal is to be under 325 points.
For example I switched over to individual last year as the exact plan I had for small group from the same company was $100 more a month than individual. I am a type II diabetic with HBP, I scored 211 on the questionnaire so I could purchase from the carrier without restriction. Had I scored 325+ I would have been declined by the carrier but eligible for the High Risk Pool which offers several choices (including an HSA) of coverage at a higher rate. These rates are higher but are also subisdized by a 3% premium tax on everybody else.
As far as for the agent, Dave sent me the info and based on her age, commissions run about $7-15 monthly depending on plan choice. No advances. We'll work something out if it pans out.
I really don't know of anybody making a living off of just individual health sales in this state. It's sort of a "yea, if you need it I can provide it", rather than a market to work in. There's only a few carriers now and their pricing is almost the same. No big savings to offer to get someone to switch and they're all pretty good companies as far as service goes.
Oh, and WA adopted the Clinton Plan back in 94. It's been fiddled with and has been this way since about 2000.
For example I switched over to individual last year as the exact plan I had for small group from the same company was $100 more a month than individual. I am a type II diabetic with HBP, I scored 211 on the questionnaire so I could purchase from the carrier without restriction. Had I scored 325+ I would have been declined by the carrier but eligible for the High Risk Pool which offers several choices (including an HSA) of coverage at a higher rate. These rates are higher but are also subisdized by a 3% premium tax on everybody else.
As far as for the agent, Dave sent me the info and based on her age, commissions run about $7-15 monthly depending on plan choice. No advances. We'll work something out if it pans out.
I really don't know of anybody making a living off of just individual health sales in this state. It's sort of a "yea, if you need it I can provide it", rather than a market to work in. There's only a few carriers now and their pricing is almost the same. No big savings to offer to get someone to switch and they're all pretty good companies as far as service goes.
Oh, and WA adopted the Clinton Plan back in 94. It's been fiddled with and has been this way since about 2000.
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