Wellcare PDP Class Action Suit

[axeman462]

Obamacare is a disaster for anyone who isn't within 10% of the poverty line limit, too, financially. The coverage only gets worse as you pay more money. Makes absolutely no logical sense and needs to massively change.

I got so tired of delivering people bad news that I just stopped working the exchange years ago. I didn't do it much anyway, but it's just a disaster.

It also makes us as brokers look bad, too, because people are coming to us for help, when they need insurance, and then we have to tell them they're gonna pay $800/month for a plan with a $7,500 deductible.

It's not good for business/ receiving referrals. When someone isn't happy, they aren't gonna give you more business.

They're gonna go...."Yea, I went to that guy you mentioned and he quoted me a terrible plan for an outrageous price!"

And even if they do give you referrals, if they are happy, it's just gonna be more people like them....people that are only out of work for a few months before they find a new job with insurance coverage.

You just end up doing a TON of work for $40, and then they're gone for good. Not worth it.

They don't understand that we have no control over these plans and prices. 80-90% of plans are not good.

As far as I can't tell it seems you are right.

I recently started offering U65 insurance for two reasons.
1) to attempt to get myself decent insurance at an affordable price. - I accomplished the latter somewhat, since I can collect the commission now
2) I got tired of referring the spouse of a client to unreliable agents.

I don't intend to make U65 my main product, but if I can make a few hundred bucks a month, and secure my business a little more at the same time I don't see the reason not to.

Hopefully the next administration can offer some solutions to the U65 market. I like my HSA, but my plan's network is horrible. I sometimes envy my MAPD clients

 

[Midlevel]

Obamacare pays 100% of my rent and overhead so Medicare is 100% profit. Don’t agree with farmers that own 5 million worth of land getting free insurance but at least I’m getting paid.

 

[Chazm]

As far as I can't tell it seems you are right.

I recently started offering U65 insurance for two reasons.
1) to attempt to get myself decent insurance at an affordable price. - I accomplished the latter somewhat, since I can collect the commission now
2) I got tired of referring the spouse of a client to unreliable agents.

I don't intend to make U65 my main product, but if I can make a few hundred bucks a month, and secure my business a little more at the same time I don't see the reason not to.

Hopefully the next administration can offer some solutions to the U65 market. I like my HSA, but my plan's network is horrible. I sometimes envy my MAPD clients

It’s really not hard. And of course insurance is expensive for you and I but believe me, you will talk to plenty of people who can get a plan for $50 with a $1k moop.
The people who have to pay a lot aren’t pissed. It’s the ones who have to pay $200-300 that are oddly pissed. I then tell them I pay over $1600 for a family of 3 with a $5k ded. You’ll live

I don’t sell it often, maybe 20 total clients but that’s an extra $500/month. I need to double it this OEP to make up for WellCare.

 

[kgmom219]

I have a few

Probably 50 a year age into Medicare, it’s home grown referrals.

In my perfect world, my income is in thirds: group, individual, Medicare. Medicare is taking over and now it’s at 50/25/25

If the government or WellCare throws me a curve ball, I’m in great shape. I can pivot with no problem.

ACA has its own challenges but what else is new?

 

[WiscBroker]

It’s really not hard. And of course insurance is expensive for you and I but believe me, you will talk to plenty of people who can get a plan for $50 with a $1k moop.
The people who have to pay a lot aren’t pissed. It’s the ones who have to pay $200-300 that are oddly pissed. I then tell them I pay over $1600 for a family of 3 with a $5k ded. You’ll live

I don’t sell it often, maybe 20 total clients but that’s an extra $500/month. I need to double it this OEP to make up for WellCare.

My people who pay a lot ARE pissed, but they have no choice so they pay. They may not always outright express their anger or unhappiness, but you can tell. I hear the sighs, I sense the frustration, and many outright vent.
What I can tell you is I've had both depressed people in my office since the election but a lot of optimistic people hoping the new administration can right the ship and make things better.

 

[Evan]

I'm 80/20 ACA-Short Term to Medicare. The unhappiness on the ACA dwarfs the Medicare side especially this year. Its even more frustating as a carrier can be priced well one year and do a 180 the next year. Guess who then has to move everyone.

And don't even get me started on self employed people estimating their income. Its never correct. Why open enrollment is not during June/July when people have a grasp of their financial year is beyond me.

 

[Duaine]

 

[InsuranceGuy29]

View attachment 15541

Literally the absolute dumbest system in existence. I tell people straight out this is a very dumb process the government makes us go through. Just try your best. Get the government OUT of insurance!!!