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I'm an independent health insurance agent with 23 years experience. I am looking for alternative income sources. In the last 30 days, I have gotten notices from every health insurance company I am appointed with. They have all informed me that they are going to cut commissions for all policies written after January 1, 2011.
The 20% commissions are not going to last much longer. They are going to be cut in January and be eliminated completely in 2014. Today's independent health insurance agent will have to become a government employee if the wish to sell health insurance in 2014 and qualify for a Navigator contract. There will be no commissions for major medical health insurance for people under age 65 unless Obamacare is modified.
Can you tell me which carriers have sent you letters stating they are going to cut compensation?