What's the Scoop Health Guys?

insurance1822

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I'm a P&C guy & I wanna know what's your life like now? Are the top 20% of producers hurting? Have commissions simply disappeared? Are there guys who's books have had their commissions destroyed? Please explain how your landscape has changed & what the current status.

I feel for you all big time
 
For individual plans, yes to all of the above.

Renewal book of biz built between 2004 to 2013 has dwindled down to 5% of my income. Mostly due to plan cancellations, and/or moving to exchange.

Now with ACA, you must rewrite your entire book.......EACH year, during a 45 day period, and then spend the next 90 days chasing payment, agent AOR, and income / citizenship documentation.

Now, with national carriers like UHC and Humana basically going to 0% or 2%, it's made the business difficult to be a primary income going forward. Very regional, but these national carriers bailing covers a lot of markets.

I now have either nothing to sell, or junk to sell. I'll be fortunate to make 1/2 my income next year. This was the last year to make any coin.

I think I might start selling P & C in Alabama :D
 
Can't say Ted. Believe it pre-dates the Buttoned Down Mind of Bob Newhart. I first heard it from a friend in college and will use that line when appropriate.
 
It's a volume game now. Write more than you lose.
If you write 10 policies for Jan 1st, you are lucky 7 have stuck by summer.
 
My two largest carriers have either already terminated or are in the process of terminating all grandfathered plans, so it is ACA-compliant only for me basically, and two of the biggest carriers have cut commissions to literally nothing for new business.

I am transitioning into the murky waters of medicare to try to earn some coin before this all goes away, no longer going to do any advertising or marketing for U65. Health agents are going the way of the door-to-door encyclopedia salesman...
 
door-to-door encyclopedia salesman...

You must be old.

I knew a bunch of guys in Nashville that worked for BFAW (later Corroon and Black) that sold bibles door to door.
 

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