Q. for Assurant About 0% Commission Major Med:

[FLM2]

This clearly illustrates the difference in broker driven sales vs navigator or consumer direct.

Consumers and navigators aren't sharp enough to look for and appreciate the value of a broad network and relatively low OOP for those with chronic, expensive conditions.

This was a perfect storm for adverse selection.

Assurant apparently failed to realize this and they are paying the price.

I haven't sold Assurant in years other than an occasional STM or dental plan. Last year I sold 10 IFP plans with them and only sold Plat plans. It was a sweet deal for my clients once they realized why they should pay a few $$ more vs someone like Humana that also had a broad network.

It was a great deal for my client and a good deal for me.

But it was doomed to fail.

I can (and will) complain about what has happened with Assurant this year but, at the end of the day, I made many clients very happy last year (and this year also) by getting them great plans (mostly Platinum) with a huge network and excellent compensation for myself.

I'm not going to hold a benefit for Assurant, they are a Fortune 500 company with billions of resources and will work their way out of it (by either narrowing their products or leaving the business).

My approach to this business is 1 year at a time so, if they are gone in 2016 they were still a great choice for 2014 and a very good choice in 2015.