PhxSunsFan
Guru
- 594
After hearing that hnet will pay 4% in AZ ., will we be able to make enough money on this? anyone crunch the numbers?
4% for IFP... is It Enough
- Thread starter PhxSunsFan
- Start date
Too much sad talk on here! Lets be optimistic for a second. I know everyone is down about the upcoming changes but, here are a couple thoughts to discuss:
More people will need to purchase health insurance.
Less work should be involved considering there is no underwriting.
Maybe we can make up the loss of % with volume.
Okay, that was fun....
Now we can go back to being REALISTIC....
- 3,345
Who cares what HNet will be paying, say 4%...most carriers can do better than that.
- Thread starter
- #4
PhxSunsFan
Guru
- 594
I believe all of the larger carriers will be at 4-5%..
- 4,716
4% ain't enough, these will be short term health policies until they get a job with insurance or married ect. High turn-over business.
I will not participate at that rate, just to get chopped down to nothing whenever they feel like it.
They can find some other poor sucker to write for them.
Oh I know people say what about the cross sell opportunities....news flash these folks are broke that you will be enrolling. They wouldn't be getting health ins. if the govt. wasn't subsidizing it for them.
I will not participate at that rate, just to get chopped down to nothing whenever they feel like it.
They can find some other poor sucker to write for them.
Oh I know people say what about the cross sell opportunities....news flash these folks are broke that you will be enrolling. They wouldn't be getting health ins. if the govt. wasn't subsidizing it for them.
- 948
So true - once it's commoditized (sp?), there will be no loyalty. they'll go direct to exchanges to shop. Even in the private market - over time, it may be the same. Flip, flip, flip . . . .
Yea... 4points fpuck it... I'm going to Medicare aep full time... Ain't interested. Fpuck the the insurance companies... Can you hear me bc, artna, Humana, Cigna? Hope so cause if not you are screwed
Expect some low commission rates from 4% on down to 2% in some markets. Expect some higher commission rates also. Expect some bonuses and higher tiers for more volume. Expect ancillary plans and/or alternative products by carriers outside the exchange. Expect some carriers to cut out the agent entirely. Then expect insurance companies to realize their error and make adjustments. It's all cyclical.
When MLR hit, some of the first insurers to publish very low commissions are now very sorry that they did so. Even though commissions are now a part of the whole HHS approval mess, carriers can (and will) make adjustments with bonuses. We need to let them know how low is too low. There comes a point where their sales distribution force will walk away. They can't afford to have that happen before they've amassed such a volume of enrollees that they essentially dominate the market.
When MLR hit, some of the first insurers to publish very low commissions are now very sorry that they did so. Even though commissions are now a part of the whole HHS approval mess, carriers can (and will) make adjustments with bonuses. We need to let them know how low is too low. There comes a point where their sales distribution force will walk away. They can't afford to have that happen before they've amassed such a volume of enrollees that they essentially dominate the market.
- 1,896
7% is the starting point. Anything less and I'm finding other things to do with my time.
I actually got a raise not too long ago, everything is 10% but the main company does 15%, hope it stays that way...
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