My 2 Cents

[FLM2]

I'd like to share a few thoughts and things I've heard about what's to come in 2014:

• Florida Blue commissions will stay about the same as the current structure for 1st year but nothing has been said about renewals other than my agency owner thinks they will be much higher than the current plan (right now my commission is between $2 and $4 per month per adult).
• My Cigna rep hinted at something on the order of 12% 1st year and 5% renewals or maybe 8% flat
• Both Blue and Cigna are going to protect the existing book when plans are switched-Blue will only pay the renewal commission

If the above holds up then those of us who have stuck it out for the past 3 years are going to be rewarded-in my case, I figure the commission cuts in 2010 cost me lots of money in compensation and this will at least help make up for some (or most of it over time).

I don't like the law but no one has been hurt more by its passing than us agents and I see no reason not to maximize my income by becoming an expert and doing the best I can for my clients to understand this mess.

 

[somarco]

no one has been hurt more by its passing than us agents

While I agree agents have been thrown under the bus by HHS and company, we are not the only ones hit.

Look at the millions of individuals who have lost their job, lost benefits (or both) and had hours reduced due to Obamacare.

Consider how many millions will find health insurance even less affordable than now.

 

[FLM2]

While I agree agents have been thrown under the bus by HHS and company, we are not the only ones hit.

Look at the millions of individuals who have lost their job, lost benefits (or both) and had hours reduced due to Obamacare.

Consider how many millions will find health insurance even less affordable than now.

I said that agents have been hurt the most so far, I made no other comments about anyone else. I've had to replace half my income annually in the past 3 years (and have done so) but would have earned much more money without the insurance companies using us as fodder to meet the MLR requirements.

You would have to show me where millions of people have lost jobs in the past 3 years because of Obamacare for me to believe it. Will large companies do whatever they can to avoid providing health insurance next year? Absolutely and some of that will include limiting hours and playing games with benefits and costs to force employees to decline coverage, at which time they will be screwed (but not yetO.

The people who will really get screwed next year are the hard working middle class who work their butts off and make just over the subsidy line-those are the ones I truly feel bad for along with others who will not understand how subsidies will be recovered with income changes and wind up with huge tax bills in 2015.

 

[timsip]

I said that agents have been hurt the most so far, I made no other comments about anyone else. I've had to replace half my income annually in the past 3 years (and have done so) but would have earned much more money without the insurance companies using us as fodder to meet the MLR requirements.

You would have to show me where millions of people have lost jobs in the past 3 years because of Obamacare for me to believe it. Will large companies do whatever they can to avoid providing health insurance next year? Absolutely and some of that will include limiting hours and playing games with benefits and costs to force employees to decline coverage, at which time they will be screwed (but not yetO.

The people who will really get screwed next year are the hard working middle class who work their butts off and make just over the subsidy line-those are the ones I truly feel bad for along with others who will not understand how subsidies will be recovered with income changes and wind up with huge tax bills in 2015.

It doesn't take much research to find that millions of people had their hours cut and in turn their income. We as agents are facing troubles, but we aren't alone.

Add in all the additional fees and taxes, everyone is taking a bite out of this and it is going to leave a nasty after taste.

 

[RayNY]

Middle class definitely get's screwed, especially in "expensive" states where an Indiv plan is in the $400-$500 ballpark. People just over the 400%FPL subsidy cutoff may be facing premium that equals 10-20% of their income.

FLM, welcome to the forum. Do you happen to have anything in writing indicating this, or is it just hearsay? I ask, because I have not heard anything from anyone in any state indicating brokers might actually have increased compensation. Every official (i.e. in writing) compensation proposal has been level or reduced, sometimes to nothing.

 

[FLM2]

FLM, welcome to the forum. Do you happen to have anything in writing indicating this, or is it just hearsay? I ask, because I have not heard anything from anyone in any state indicating brokers might actually have increased compensation. Every official (i.e. in writing) compensation proposal has been level or reduced, sometimes to nothing.

The Florida Blue info is from a Blue meeting with their senior U65 management and my agency senior management-I've heard it at 3 different meetings so am comfortable with it.

Cigna is a conversation with my rep so it qualifies as hearsay.

Every time I speak with an insurance company rep I tell them I'm spending no money on U65 health insurance marketing this year until they announce commissions for next year-they all understand but there isn't anything they can do until it is announced. My guess is that we'll find out in late August or early September (maybe a little sooner for Florida Blue, they have another road show in late July and may announce then).

 

[TonyC]

The Florida Blue info is from a Blue meeting with their senior U65 management and my agency senior management-I've heard it at 3 different meetings so am comfortable with it.

Cigna is a conversation with my rep so it qualifies as hearsay.

Every time I speak with an insurance company rep I tell them I'm spending no money on U65 health insurance marketing this year until they announce commissions for next year-they all understand but there isn't anything they can do until it is announced. My guess is that we'll find out in late August or early September (maybe a little sooner for Florida Blue, they have another road show in late July and may announce then).

Thansk FL,

You in Fla. by any chance?

~T

 

[FLM2]

Thansk FL,

You in Fla. by any chance?

~T

Yes, licensed in a bunch of other states but the majority of my clients are in Florida

 

[xrac]

Middle class definitely get's screwed, especially in "expensive" states where an Indiv plan is in the $400-$500 ballpark. People just over the 400%FPL subsidy cutoff may be facing premium that equals 10-20% of their income.

FLM, welcome to the forum. Do you happen to have anything in writing indicating this, or is it just hearsay? I ask, because I have not heard anything from anyone in any state indicating brokers might actually have increased compensation. Every official (i.e. in writing) compensation proposal has been level or reduced, sometimes to nothing.

The middle class especially married couples and business owners are getting screwed at every turn.

 

[SecureHealth1]

I was at a Florida Blue meeting as well, they would not mention any numbers whatsoever so I wouldn't count your ducks yet. I was told just before the 2010 comp changes that they would be BETTER then their old 22% comp on under 65, we all know how that ended up. I do believe they are willing to pay decent comp or even over pay the first open enrollment because they are so desperate to make it work since they can no longer do business as usual. They have one believe, succeed in getting as many enrollments as possible this first year come hell or high water..