Will Exchanges Replace the Standard Practice Today to Contact Insurance Companies Directly?
- Thread starter glazarev
- Start date
I am new to the health spectrum, and still trying to get a grasp on what is really going to happen with the ACA, but I will take a swing. If you qualify for subsidies, I do not see why you would have a reason to look somewhere other than the exchange. However, if your income is too high, there is no incentive. I believe that there are going to be some companies that will sell plans in a particular state, but not on the exchange. Those plans may have better rates.
Speculation, of course, as with everything that's coming in 2014...
Speculation, of course, as with everything that's coming in 2014...
There is still a massive off-exchange market. You will have to deal with companies individually in order to write these off-exchange policies. Small businesses and individuals that aren't subsidy eligible are not unicorns, they are still a big part of the population (especially in higher cost-of-living states like NY and CA).
Off-exchange products may also have the bonus of richer plan designs, different riders, different networks, etc. Don't have to deal with IRS scrutiny, open enrollment periods, or those arbitrary metal tiers.
Also, commissions on off-exchange product may be different.
Off-exchange products may also have the bonus of richer plan designs, different riders, different networks, etc. Don't have to deal with IRS scrutiny, open enrollment periods, or those arbitrary metal tiers.
Also, commissions on off-exchange product may be different.
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Ray: I could be wrong but I do believe that off exchange plans WILL be subject to enrollment periods as well ....Also, if a company offers an exchange plan, the commission paid on their off exchange plans has to be the same...Anybody wanna confirm this?
Excellent question...
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This has been discussed in another thread and different responses, but the colored company in Florida has the same open enrollment as FFM. Right on commissions.
Comp on the same products has to be the same. A company with, say, 3% on all exchange product(and the off-exchange mirror product), may offer unique off-exchange only product at a different comp rate. (Anything on has to be off, but anything off doesn't have to be on.) Sorry for not specifying the off-exchange "only" part.
I have not had a single carrier tell me their off-exchange only product is subject to any sort of OEP. I don't have anything in writing either way though. In line with BlueDiamond, as far as I knew, the on-exchange product sold off-exchange will probably be subject to the OEP. Again, I should have specified the "only" part.
I have not had a single carrier tell me their off-exchange only product is subject to any sort of OEP. I don't have anything in writing either way though. In line with BlueDiamond, as far as I knew, the on-exchange product sold off-exchange will probably be subject to the OEP. Again, I should have specified the "only" part.
With GI off exchange I can see how the carriers would only let you change change during an AEP like Medicare (Part C and D). What I do not understand is how they are going transition current renewals that are not in January.
This is a huge blow as an independent broker doing both indy and Medicare I can only speak to so many people in 53 days. There is a critical mass of folks that can be handled in that short period of time.
There will still be business with Special election periods but you would still have to transition them to a calendar year plan the next AEP, just like Medicare.
This is a huge blow as an independent broker doing both indy and Medicare I can only speak to so many people in 53 days. There is a critical mass of folks that can be handled in that short period of time.
There will still be business with Special election periods but you would still have to transition them to a calendar year plan the next AEP, just like Medicare.
here are the points ray may be missing:
first, all plans that are sold with 01/01/14 effective dates must meet all ACA guidelines and that includes OEP. The only plans that are exempt are add on products like accident, cancer and the like and fixed indemnity plans.
as to where it is written?... the voted on, signed by the prez and ruled legal by the USSC ACA law.
first, all plans that are sold with 01/01/14 effective dates must meet all ACA guidelines and that includes OEP. The only plans that are exempt are add on products like accident, cancer and the like and fixed indemnity plans.
as to where it is written?... the voted on, signed by the prez and ruled legal by the USSC ACA law.
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