Insurance Agent Forum

Imerica Going Down...

stormtracker — Fri, 20 Nov 2009 21:20:18 GMT

Just got this email: Effective November 18, 2009, Imerica was placed into Rehabilitation by Order of the Pulaski County Circuit Court of Arkansas where Imerica is domiciled. Among other things, the Order prohibits you from interfering with the receivership and with efforts of the Receiver and from taking any action adverse to the interest of Imerica. ..For your policyholders, Imerica will continue to pay claims and service their policy so long as premium continues to be paid.

There are two ways the receivership immediately affects you. First, Imerica can no longer issue new policies while in rehabilitation, because Imerica cannot continue to accrue new liabilities. Therefore, new applications for coverage will no longer be accepted.

Secondly, commissions cannot be paid at this time. It is unclear whether Imerica can be rehabilitated or if it will have to be liquidated. In liquidation, commission payments are general creditor claims. Under the applicable receivership priority distribution scheme, general creditor claims are below administrative expenses and policyholder claims and expenses and cannot be paid unless there are sufficient funds to pay administrative expenses and policyholders in full. In the event that Imerica goes into liquidation, any commissions paid at this time would constitute an unlawful preference.

New to Sales, New to Insurance!! Help Please

NewProducer — Fri, 20 Nov 2009 21:19:37 GMT

Hello All,

I really appreciate you opening my topic and am asking you for some support. Here is a brief background:

I am new to sales and have absolutely no background in either sales or insurance. I have been with a company for about a year now and it has been a rough start. I work off commission only and was not able to motivate myself for the first couple of months. I was still unsure if Insurance was for me and was in the face of the fear of rejection. Months later and I have now been humbled and can acknowledge that rejection is not that scary and motivates me to keep going.
However, I am struggling with an area in sales and can see that I'm not sure what the answer is at this point. The problem lies in the closing of sales. I have had cases were a prospect mentions that although we are able to save them money, they are not interested to switch at the time due to "loyalty to their company, being that they have been with them for such a long time." At that point I think to myself, "Great, they are showing loyalty an that's the type of clients I want to serve, on to the next." This seems to work for my state of mind, but I can tell my agent gets frustrated with this. I don't believe that there is a lack of people that need insurance so I just choose to move on. A lot of you have been in this business for awhile, and a lot of you are agents who possibly have producers in the same situation. I am open to change my point of view if I feel it will benefit the prospect and myself, but not sure what my options are in this situation. Feedback and advice please. Thank You

Mayor Daley Declares Racism Dead in America

Robert Barney — Fri, 20 Nov 2009 21:02:02 GMT

From this article:

Mayor Daley Says Media Backlash May Have Driven Oprah Away - cbs2chicago.com

"I think she was the most successful woman that we will ever know in the history of this country," Daley said at a fundraising event for United Negro College Fund.

Case closed.

Hunter Charged in College Student's Death

al3 — Fri, 20 Nov 2009 20:23:08 GMT

If a trained hunter (I assume you have to take a class to get a hunting license in VA?) can have an accident like this, do you wonder why I don't feel safe with guys who carry concealed?

washingtonpost.com

Hunter charged in college student's death
Woman killed, man injured while working on project in Va. field

By Hamil R. Harris
Washington Post Staff Writer
Friday, November 20, 2009

Three students at Ferrum College, near Roanoke, Va., were in an open field near campus Tuesday, working on a biology class assignment, when a single shot rang out.

Jason Cloutier, 31, a hunter, fired a rifle bullet that passed through the chest of Jessica Goode, a 23-year-old from Winchester, killing her instantly, and then hit the hand of Regis Boudinot, 20, of McLean, according to the Virginia Department of Game and Inland Fisheries.

On Thursday, Boudinot's stepmother appealed for an end to recriminations against the hunter, who told authorities he mistook the students for deer.

"We all make mistakes, and people are saying horrible things about him without knowing the facts," Kimberly Boudinot wrote in an e-mail to friends. "I have never known hate and cruelty to triumph over love, and I ask that everyone remember this."

Cloutier was charged with manslaughter, reckless handling of a firearm and trespassing, police said.

Kimberly Boudinot said that her stepson and two other students "were on a school assignment tracking turtles for their biology class when it happened. As soon as they heard the sound, he saw that [Goode] had a huge hole in her chest. She turned to Regis and said, 'I am going to die.' My son watched one of his dearest friends die."

Regis Boudinot, a junior at Ferrum and a graduate of Langley High School in McLean, was doing well after reconstructive surgery on his hand, his stepmother said. The third student at the scene was not injured.

"We are definitely counting our blessings," Kimberly Boudinot said. "Our prayers and hearts go out not only to a family that has lost a daughter, but to the hunter's family. He has a wife and 2-month-old baby, and this is a nightmare for his family. It changes your life. He didn't know that it wasn't a deer. He certainly didn't mean to hurt anyone."

Goode was an environmental science major who loved to go camping. "They were the best of friends," Boudinot said. "She was a wonderful and very bright young lady who loved many people."

Goode's death is the 39th hunting fatality in Virginia since 1998 and the first of those that has involved a non-hunter, said Julia Dixon, a Game and Inland Fisheries spokeswoman.

It's not rare for hunters to mistake people for wildlife. In 17 of the 39 fatalities, the shooters said they fired at what they thought was an animal.

Need Your Opinion

rapidrobert — Fri, 20 Nov 2009 20:16:33 GMT

I'm thinking of getting back into more aggressive marketing of Health Ins. (Like re-trying Quotit, buying "leads," work more on website et al) HOWEVER, with the Obama/Chairman Mao takeover looming does that make any sense???

Should I just chill and wait? I'm feeling re-juvenated and am running a little slow on referrals which is all I've been doing this last year.... WHAT SAY THE GURUS OF INSURANCE and SWING???

:yes: or :no:

Hmmm: Is the AARP Getting �kickbacks� from Obamacare?

URDRWHO — Fri, 20 Nov 2009 19:32:46 GMT

Hmmm: Is the AARP getting �kickbacks� from Obamacare?

Michelle Malkin Hmmm: Is the AARP getting “kickbacks” from Obamacare?

$100 Million to Senator from Louisiana and I am sure a lot more payoffs are in the bag.

The Demcare bribe list

Michelle Malkin The Demcare bribe list
:1confused:

Medigold - HMO - MA Plan

sodaytongal — Fri, 20 Nov 2009 19:20:28 GMT

Anybody have any experience or feedback. Thank you!

Trouble In Arch-Con Paradise

al3 — Fri, 20 Nov 2009 18:51:08 GMT

Tea partiers turn on each other

Kenneth P. Vogel Kenneth P. Vogel
Thu Nov 19, 11:41 pm ET

Quote:

After emerging out of nowhere over the summer as a seemingly potent and growing political force, the tea party movement has become embroiled in internal feuding over philosophy, strategy and money and is at risk of losing its momentum.

The grass-roots activists driving the movement have become increasingly divided on such core questions as whether to focus their efforts on shaping policy debates or elections, work on a local, regional, state or national level or closely align themselves with the Republican Party, POLITICO found in interviews with tea party organizers in Washington and across the country.

Many of these differences date to the movement�s beginnings last winter in an outpouring of anger about the huge increases in government spending enacted by President Barack Obama and the Democratic Congress. But they were overshadowed by the initial explosion of activism that culminated during the congressional town hall meetings in August.

Now the disagreements and the sense of frustration they have engendered could diminish the movement�s potential influence in state and national politics.

These groups don�t play as well together as they should,� said Kevin Jackson, a St. Louis-based conservative author and activist who has spoken at dozens of tea party-type rallies and is traveling across the South with a convoy sponsored by the national Tea Party Patriots group.

They�re fractured at the organization level, I think mainly because there are a lot of people who have not had managerial experience who all of a sudden are thrust into the limelight and become intoxicated with it. And when a potential rift comes up, instead of handling it and maybe agreeing to disagree, they splinter and go off on their own.�

The movement is composed of hundreds of independent local groups, many of which are incorporated as nonprofits and have localized names referencing the tea parties, 9/12 or We the People.

Many of their members also belong to national conservative groups, including FreedomWorks, Americans for Prosperity and Grassfire, while the local groups often affiliate formally or informally with loose-knit umbrella organizations, including the Tea Party Patriots and Tea Party Nation.

The organizational chaos � combined with a widening apathy at the edges of the movement � has produced a growing consensus among local, state and national tea party leaders that for the movement to evolve from the loose conglomeration of fired-up activists who mobilized this summer to register their dissatisfaction with Obama and Congress at town hall protests and marches across the country into a sustainable bloc with the power to shape the GOP and swing elections, it will require the emergence of a national leader, group or structure.

Ned Ryun, president of American Majority, a nonprofit that has conducted organizer-training sessions for many tea party activists, said �the next three to six months� are going to be critical in determining �what�s going to happen with the tea party movement. Are they going to be a bunch of fingers, or are they going to come together to be a fist?�

Yet, while some tout a planned National Tea Party Convention in February (at which former Alaska governor and tea party darling Sarah Palin is listed as the keynote speaker) as a potentially unifying moment and others point to online coordination efforts, there is deep disagreement about what any national organization would look like and who would lead it.

FreedomWorks, Americans for Prosperity, Grassfire, Americans for Limited Government and a host of other groups have helped organize various efforts capitalizing on the energy behind the tea parties, including providing training, online war rooms that help generate phone calls and ready-to-distribute canvassing literature.

But the groups have also jockeyed � mostly behind the scenes � to take credit for leadership of the movement, which � depending on who�s doing the telling � took its name either as an homage to the 1773 Boston tax revolt that played a major role in sparking the American Revolution or from an acronym standing for �taxed enough already.�

Some activists see the turmoil within the movement and the internal clashes as simply a part of maturing.

Some of these groups may burn out, but this is part of this entrepreneurial process and the competition is good,� said Adam Brandon, vice president of communications for FreedomWorks, a nonprofit chaired by former House Majority Leader Dick Armey of Texas.

The group has facilitated some of the efforts demonstrating the potential power of the movement. Those have included the confrontations that erupted at congressional town halls this summer, the massive Sept. 12 �Taxpayer March on Washington� as well as another Washington rally this month and support for conservative third-party candidate Doug Hoffman, who narrowly lost a special congressional election in upstate New York this month despite strong support from many tea party groups and leaders.

Brandon stressed that the strength of the tea party movement is in its grass-roots nature and that FreedomWorks�s goal is to help facilitate the movement, not to control it.

One thing that�s clear is that anyone who says they own the tea party movement is going to get run over because no one owns the movement,� he said.

Brandon acknowledged the �rivalries and turf battles� now gripping parts of the movement but said �that�s normal because people have different ideas about what they want. That�s what�s happening now, and it�s sometimes a painful process.�

Those fights have been waged over issues that go to the heart of the movement�s purpose and strategy as well as more mundane rivalries and personal feuds.

In Myrtle Beach, S.C., disputes within the local tea party about how much to engage in partisan politics and whether board members were profiting from contracts to print paraphernalia emblazoned with the group�s logo prompted the treasurer to resign and join with defectors from a North Carolina We the People group to form a new organization.

There�s a lot of fighting, and everyone wants to be in charge, and that�s why you have so many splinter groups,� said ex-treasurer Janet Spencer, who charged her adversaries within the tea party with saying �derogatory things about me that were very unprofessional.�

She said her new group, called Patriotic Voices of America/Carolina Patriots, counts about 100 members and will not coordinate with the Myrtle Beach Tea Party, whose treasurer, David Ognek, said the friction is �just group dynamics.�

In Texas, a handful of thriving tea party groups severed their ties from the national Tea Party Patriots group after it ousted, then sued a founding board member who had affiliated with a rival group called the Tea Party Express.

Our fight is in Congress and not with each other or with these other groups,� said Toby Marie Walker, who was the Texas state coordinator for the Tea Party Patriots and also co-founded the Waco, Texas, tea party.

This Waco group recently drew an estimated 4,000 people to a rally it organized with the Tea Party Express, which travels the country hosting rallies. The month before, it had pulled out of the Tea Party Patriots after the Patriots group accused the Tea Party Express of steering the movement away from nonpartisan issue-based advocacy, embracing extremist rhetoric and raising questions about the Express�s finances.

The Patriots� attack and lawsuit worried the Waco group�s board, Walker said, because �if you align yourself with someone who is going to be that malicious, then how do we know they won�t turn on us?�
Other local tea party groups, though, cast their lots with the Patriots, heeding the group�s call to disassociate with the Tea Party Express.

In Granbury, Texas, local tea party organizer Josh Sullivan says he believes the movement�s effectiveness is being compromised by extremism.�You have some interesting folks in the Tea Party movement � some of them I can support, but some of them are kind of out there and radical, and I don�t want to associate myself with them,� he said. In Northern Colorado, meanwhile, a handful of active 9/12 groups � named for the Glenn Beck-encouraged effort to stage the Sept. 12 Washington march � are unhappy with the state 9/12 group�s aversion to fundraising and with its focus on national issues and have discussed forming their own rival statewide group.

People are beginning to become a little bit de-energized � they�re starting to feel like they�re fighting a losing battle, because we send a lot of letters into Washington, D.C., and things like that, and people are saying they�re not listening,� said Brian Britton, who heads the Greeley, Colo., 9/12 group.

That fear is echoed by Glenn Galls, a Hot Springs, Ark., tea party organizer frustrated with the focus of Arkansas�s state-level tea party groups on national races and issues such as cap and trade and health care.

If the tea party movement is going to continue to thrive and to grow and to have influence,� he said, �it must start coming together and coalescing and finding its purpose in life, because if it doesn�t, the excitement will fade like it does from anything else.�

Independent or Captive Agency SI,NY?

VBins — Fri, 20 Nov 2009 18:21:51 GMT

I am looking to buying a book of business not sure if I can find an Independent book for sale, but there are plenty of Allstate books for sale the only problem is the multiples they are looking for are a bit hefty 2.75/3 times. I am looking to do P&C Life & Health I am licensed in all lines of business. I am looking for guidance in the right direction. My background is an Investment Consultant at a bank for 5 years, just got tired of starting from Zero every month and would rather run my own business. My wife is no longer working, we recently had an addition to our family so now we are 5. any guidance is highly appreciated!
Btw a few of my friends purchased Allstate Books so I have some pretty good inside info on that, just would like to explore other options! I have checked out State Farm

Zero Deductible Health Insurance with Cash Back

Alston — Fri, 20 Nov 2009 18:05:43 GMT

I've recycled an old sales idea and am calling it:

Quote:

"Zero Deductible Health Insurance with Cash Back"

Few things are more frustrating to me as an agent than when I try my hardest to get someone to buy the best plan and they decide to buy an overpriced low deductible policy instead.

Often I'll talk to one spouse and get him or her to see the wisdom of an HSA or some other other high deductible policy.

Unfortunately, the spouse who wasn't part of the conversation is often a better sales person than I am. I'm often told "what you said makes sense but my (husband/wife) thinks..."

They will often buy the more expensive policy and the family winds up giving money to the insurance company that should have stayed in their bank account.

Sure I make a commission, often a higher commission on the more expensive policy, but I feel like I haven't done my job when they buy an overpriced policy.

Who else is similarly frustrated? Any other sales concepts to share?

Newspaper Ad... What Say Ye.

G.Gordon — Fri, 20 Nov 2009 17:53:38 GMT

Comments please...

Medicare Supplement Savings

Here are some examples of what we’ve done for others recently:
� 65 male, plan F w/United American at $190/mo switched to plan F with United of Omaha for $139/mo.
� 77 male, plan E with AARP at $188.50 switched to plan E at American National for $136.60/mo.
� 77 female, plan E with AARP at $188.50 switched to plan E at American National for $124.41/mo.
� 68 female, plan F with Mutual of Omaha at 158.60 switched to plan J at United of Omaha for $107.18.
� 65 female, plan C with Blue Cross at $152/mo switched to Plan J with United of Omaha for $95.08/mo.
� 84 male, plan F with American Family at $225/mo switched to Heartland National for $184/mo.
Big savings, no risk, and local service. What are you waiting for?

Best Sales/Marketing Book You've Ever Read?

bassplayer — Fri, 20 Nov 2009 17:28:54 GMT

I'm curious what in your opinion is the best sales or marketing book you've ever read? (spammers, this is your opportunity to peddle your goods too)

I'll start with Joe Girard's "How to close EVERY SALE". It's an older book by the Guiness Book of World Record holder 'World's Greatest Salesman'.

Quinstreet Files IPO

Melmunch3 — Fri, 20 Nov 2009 17:07:21 GMT

Quinstreet, one of the largest lead generation companies around, has filed for an IPO. sv1 Some interesting data in here.

It looks like they paid 27.5 million dollars for Surehits, with an additional earnout up to $18 million.

They also spent 15 million on Insure.com along with a 1 million dollar unsecured note.

Although I already think that Surehits and Quinstreet are great companies, I think this is a good thing for insurance lead buyers, because it increases the transparency for one of the largest players and it also puts pressure on them to act aggressively with scammy affiliates.

You can read more on Jay's blog. Lead Confidential News Brief: Quinstreet Files for IPO

I Thought Going Indy Was Going to Be Easier

Chazm — Fri, 20 Nov 2009 16:50:50 GMT

I have been I guess you can call a "broker" with great American for a year now and I decided that I wanted to go completely indy. I talked to Frank and it seems the one problem is it might be hard to get "released" from my appointments with the current carriers I have. I spoke to my manager and he said they would not hold my contracts and if I left and I should be cleared in a few weeks.

Sounds good, maybe not? Some companies like MoO are going to not let me write business for 6 months after being released from my original GA. And, MoO has excellent rates for Med supps in FL. I have no idea what AARP's med supp policy is on this and I really need them here too in FL.

My next problem is trying to find out where to get appointed with all these companies at. Frank can help me out with a few but I need to find out about FE, annuities, LTCi, annuities and individual health. I looked at Health choice one for the health side but I need better options for FE. Right now I use great american and Royal neighbors but I might have to wait to sell those again too! I'm not even sure.....all I know this is a more of a pain in the ass then I thought it would be. :1mad:

Looking to Go Independent or Captive NY

VBins — Fri, 20 Nov 2009 16:46:31 GMT

Hi, I have looked at a couple of Allstate book of business but the multiples they want are ridiculous and with the status of their business in NY it's not worth it. I am wondering if I can buy an existing Independent book of business in NY can someone guide me in the right direction? or maybe even start an Independent agency myself it's just the things I have read don't look that great for the first year or 2.

PS I am in Staten Island NY and wouldn't mind doing business in Brooklyn either.

Early Stage PA P/C Agency Looking for a Partner

manager202 — Fri, 20 Nov 2009 16:30:22 GMT

I just started a P/C independent agency in PA (outskirts of Philly) and am looking for a partner. Company is starting to write business and has appointments with several MGA�s and in the process of being appointed by two carriers.

Health Care Bill(s) Info

insurehound — Fri, 20 Nov 2009 16:12:00 GMT

According to an analysis conducted for this office by the non-partisan Congressional Research Service, between the 106th and 110th Congress, there were 41 cases in which the Senate approved the motion to proceed to a bill that the Senate eventually held a vote on final passage. Of those 41, 40 of the bills received Senate approval (S. 1805 in the 108th Congress was the lone exception). Based on these numbers, when the Senate votes to invoke cloture on a motion to proceed to a bill, that bill has a 97.6 percent chance of inevitably passing the Senate.

*This analysis excludes any bill that may have been pulled from the floor for whatever reason after the initial cloture votes or that may have passed by unanimous consent or a voice vote.

Top-Line Facts:

Spending: The cost of the bill is $2.5 trillion over 10 years of full implementation (2014-2023) (See attached).

Taxes Increases: Taxes will go up $493.6 billion-nearly half a trillion dollars.

Medicare Cuts: Medicare will be cut $464.6 billion-another half a trillion dollars.

Total Number of Pages: 2074

Abortion: The bill permits the use of accounting gimmicks that will, for the first time, allow federal dollars to go to plans covering abortion. The bill does not include the Stupak language, and as a result, National Right to Life describes the Reid bill language as "completely unacceptable" and said it would "result in coverage of abortion on demand in two big new federal government programs."

Government Plan: The bill includes a government run plan and provides states with the possibility of opting out of participating in that plan. According to CBO, the government run plan "would typically have premiums that were somewhat higher than the average premiums for the private plans in the exchanges."

Employer Mandate: The bill will impose $28 billion in new taxes on employers that do not provide government approved health plans. These new taxes will ultimately be paid by American workers in the form of reduced wages and lost jobs.

Additional CBO Background:

The bill would bend the federal cost-curve up. CBO says, "Under the legislation, federal outlays for health care would increase during the 2010-2019 period, as would the federal budgetary commitment to health care." The coverage expansion would drive a net increase in government spending on health by $160 billion over 10 years.
CBO scored the bill as reducing the deficit by $130 billion over FYs 2010-2019.

o However, CBO notes that the bill includes two budget gimmicks that hide the true cost of the bill. Doctors are assumed to get a 23 percent cut in 2011 which would carry into subsequent years. Fixing the SGR would cost $247 billion. Additionally, the CLASS Act generates $72 billion over the budget window, but later turns to deficits. Eliminating these two gimmicks means the bill would be $189 billion in the red. It would also put the real cost of the bill over a trillion dollars.

The start dates for the individual mandate, exchanges, and employer penalties were all moved from July 1, 2013, to January 1, 2014.

This is another budget gimmick to hide the true cost of the bill.

24 million people would be left without insurance

Unfunded mandates on the states: The bill mandates that states spend an additional $25 billion in Medicaid expenditures
Taxes on uninsured individuals would total$8 billion.

Taxes on employers from the "free-rider" penalty would total $28 billion.

5 million Americans would lose their employer coverage.

Cuts to Medicare include: Permanent reductions in the annual updates to Medicare's payment rates for most services in the fee-for-service sector of $192 billion; $118 billion in cuts to Medicare Advantage; $43 billion in DSH cuts; $23 billion in unspecified cuts by the Medicare Advisory Board.

Only 19 million people will get a subsidy to help them buy health insurance.

None of the 162 million people with employer-based care will even be eligible for a subsidy.

The government plan would have higher premiums than private plans. CBO said the government plan would "typically have premiums that were somewhat higher than the average premiums for the private plans in the exchanges."

With the opt-out provision, two-thirds of Americans are expected to have a government plan available in their state.

Co-ops are included but would have "very little effect."

The CLASS Act would reduce deficits by $72 billion in the 10 year budget window, but "would begin to increase budget deficits" in the decade following 2029.

The IRS would need $5-$10 billion to expand and implement the provisions in the bill.

The costs of the subsidies in the exchange would grow at 8 percent a year.

The tax on high value plans will quickly be applied to almost all plans. CBO expects the revenues from the Cadillac plan tax to grow at 10-15 percent per year outside the budget window.

Includes a $15 billion "Prevention and Public Health Fund" slush fund.

CBO says it would be "difficult" to maintain the predicted savings over a long period of time-meaning that the plan will likely run deficits when savings do not materialize.

Summary of Tax Provisions

Baucus Bill
Reid Bill
Cadillac plan tax
$201.4
$149.1
Employer W-2 reporting of health benefits
Negligible
Negligible
Conform definition of medical expenses
$5.4
$5
Increase penalty for nonqualified HSA deductions
$1.3
$1.3
Limit FSAs to $2,500
$14.6
$14.6
Corporate information reporting
$17.1
$17.1
Requirements for non-profit hospitals
Negligible
Negligible
Pharma fee, effective 2010
$22.2
$22.2
Device manufacturer fee, effective 2010
$38.6
$19.3
Health insurer fee, effective 2010
$60.4
$60.4
Eliminate subsidy related to Part D
$5.4
$5.4
Raise 7.5 percent AGI floor to 10 percent
$15.2
$15.2
$500k deduction cap on pay for heath insurers
$600 million
$600 million
0.5% HI payroll tax over $200single/$250married
Not included
$53.8
Section 833 treatment of certain insurers (the Blues)
Not included
$400 million
Cosmetic surgery tax
Not included
$5.8 billion
Individual and employer mandate penalties
$27 billion
$36 billion
Effects of coverage provisions on revenues
*This number is not directly comparable in both scores
$83 billion
$70 billion
Other changes in revenue
$16.3 billion
$14.8 billion

TOTAL
$508 billion
$493.6 billion
PDF Version: [COLOR=#800080]http://www.atr.org/userfiles/111809pr-comptaxreid.pdf[/COLOR]
Full bill: http://www.atr.org/userfiles/ReidHealthBill.pdf
JCT score: http://www.jct.gov/publications.html...0a3c&no_html=1

COMPREHENSIVE LIST OF ALL TAX HIKES IN SENATE GOVERNMENT HEALTH BILL

Individual Mandate Tax (Page 324/Sec. 1501/Awaiting CBO score): Starting in 2014, anyone not buying "qualifying" health insurance must pay an income surtax according to the following schedule (capped at 8 percent of income):

Single
Single +1
Single +2<
2014
$95
$190
$285
2015
$350
$700
$1050
2016 etc.
$750
$1500
$2250

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).

Employer Mandate Tax (Page 348/Sec. 1513/Awaiting CBO score): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $750 for all full-time employees. Applies to all employers with 50 or more employees.

If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).

Excise Tax on Comprehensive Health Insurance Plans (Page 1979/Sec. 9001/$149.1 bil): Starting in 2013, new 40 percent excise tax on "Cadillac" health insurance plans ($8500 single/$23,000 family). Higher threshold ($9850 single/$26,000 family) for early retirees and high-risk professions. CPI +1 percentage point indexed.

From 2013-2015, the 17 highest-cost states are 120% of this level.

Employer Reporting of Insurance on W-2 (Page 1996/Sec. 9002/Min$): Preamble to taxing health benefits on individual tax returns.

Medicine Cabinet Tax (Page 1997/Sec. 9003/$5 bil): No longer allowable to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)

HSA Withdrawal Tax Hike (Page 1998/Sec. 9004/$1.3 bil): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

FSA Cap (Page 1999/Sec. 9005/$14.6 bil): Imposes cap on FSAs of $2500 (now unlimited).

Corporate 1099-MISC Information Reporting (Page 1999/Sec. 9006/$17.1 bil): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers

Excise Tax on Charitable Hospitals (Page 2001/Sec. 9007/Min$): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS.

Tax on Innovator Drug Companies (Page 2010/Sec. 9008/$22.2 bil): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.

Tax on Medical Device Manufacturers (Page 2020/Sec. 9009/$19.3 bil): $2 billion annual tax on the industry imposed relative to shares of sales made that year. Exempts items retailing for <$100.

Tax on Health Insurers (Page 2026/Sec. 9010/$60.4 bil): $6.7 billion annual tax on the industry imposed relative to health insurance premiums collected that year.

Eliminate tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D (Page 2034/Sec. 9012/$5.4 bil)
Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI (Page 2034/Sec. 9013/$15.2 bil): Waived for 65+ taxpayers in 2013-2016 only
$500,000 Annual Executive Compensation Limit for Health Insurance Executives (Page 2035/Sec. 9014/$0.6 bil)
Hike in Medicare Payroll Tax (Page 2040/Sec. 9015/$53.8 bil): Current law and changes:

Wages (Employer/Employee)
Self-Employment Net Income
Current Law and New Rate on First $200,000 ($250,000 MFJ)

1.45%/1.45%

2.9%
New Rate on Amount Which Exceeds $200,000 ($250,000 MFJ)

1.45%/1.95%

3.4%

The 0.5% new rate addition is not deductible for the self-employment tax adjustment.

Blue Cross/Blue Shield Tax Hike (Page 2044/Sec. 9016/$0.4 bil): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services

Tax on Cosmetic Medical Procedures (Page 2045/Sec. 9017/$5.8 bil): New 5% excise tax on elective cosmetic surgery to be paid by the surgery patient

11/18/09 For more information, contact ATR Tax Policy Director Ryan Ellis at rellis@atr.org

Depressed Woman Loses Benefit Over Facebook Pics

healthagent — Fri, 20 Nov 2009 16:09:33 GMT

Unbelievable - happened in Canada but still unbelievable.

CBC News - Montreal - Depressed woman loses benefits over Facebook photos

Turner Williams Death

somarco — Fri, 20 Nov 2009 15:46:05 GMT

Anyone with a few years in the worksite market, especially if they lived around Nashville, TN, knew the name Turner Williams. This man was truly a legend in the WSM industry.

His obituary only scratches the surface.

MA App Trivia Question

Winter — Fri, 20 Nov 2009 13:32:29 GMT

When MA apps ask whether the client is working or not, why is that question being asked. I mean what difference does it make?

On long term care, life insurance, and disability it is used as one of many indicators of whether the person is currently functioning but unless a person has renal disease they are good to go with an MA. So what are they trying to get at there. If a person says "I work one afternoon a week at the senior citizen center, then what? You check yes and it tells them what?

Where are they headed with that question?

Yeh, I know. It's trivia.

Diabetic - RX

JNJ — Fri, 20 Nov 2009 11:54:50 GMT

Looking to find diabetic drugs. Anyone know a good place to send a client too? Insurance company has a cap.

Thanks!

Procedural Vote Coming Right Up

Winter — Fri, 20 Nov 2009 11:51:41 GMT

Senate is getting ready to vote on taking up the Senate bill(s) versus the house bill. Some pundits are speculating that they may not have the votes to take it up on the floor. I suspect they will find them because some of the holdouts know that there is a fight that has to take place and we might as well get on with it. Of course voting to take it up and voting for it are two different things.

Because I accepted years ago that reform is coming, I am mostly focused on following the public option piece. I think that the chances of the current bills getting blown to smithereens (in part by dem idealogues) is somewhere between very good and excellent. However, I find it inconceivable that they will not regroup in a few months after the bloodbath and start picking through the rubble to put together a bill that has the areas where there is consensus.(such as on guaranteed issue). Quite likely too, they will just abandon the comprehensive bill approach and just pass bills piecemeal. They just saw how easily that worked when they reduced the pricetag of heath reform by 250 billion simply by stripping the cost of the doc-fix out of it and passing it in a separate bill. That is not a trick that they will forget easily because it worked so well. More to come.

Most likely I am wrong.

Effect of the Reform on Insurance As a Career

mousidd — Fri, 20 Nov 2009 10:52:02 GMT

Just wondering what your thoughts are about how the reform is going to effect the insurance industry as a career. Will the insurance agents still be able to compete and find business if the public healthcare bill is passed? If yes, please explain.

This Seems Disingenuous

Robert Barney — Fri, 20 Nov 2009 07:11:38 GMT

Perhaps if the Democratic congressman had tried this during Bush's term of office:

Big Government Blog Archive Finally, A Congressman With a Solution: Stop Complaining So Much

Who Uses Ebay

Robert Barney — Fri, 20 Nov 2009 07:07:43 GMT

And now, for something completely different.

I am a pretty dedicated user of ebay and have made many substantial purchases using ebay through the last decade. Anyone else out there an ebayer? What's your biggest purchase? What was your best deal?

And on a related item, I am trying to think of what to buy my wife this Christmas, and I am completely uninspired. Anybody got any good ideas? There may be more than just me looking for help.

What Interview Questions Should I Ask?

mszlazak — Fri, 20 Nov 2009 05:29:52 GMT

If I'm looking for a career in insurance sales then what interview questions should I ask at places like NYL, Farmers, etc?

Health Insurance Across State Lines, Competition, and Premiums

GT350 — Fri, 20 Nov 2009 04:02:16 GMT

What do you guys think will happen if health insurance is able to be bought and sold over state lines and the anti-trust exemption is eliminated? Will this increase or decrease competition? Also do you think this will decrease premiums for consumers? Please post real world examples/comparisons/studies to back up your stance.

How Much Does a Senate Vote Cost

Robert Barney — Fri, 20 Nov 2009 03:06:06 GMT

I was surprised to see ABC break this story:

The $100 Million Health Care Vote? - The Note

Gee, if only William Jefferson had known how much money he could have really got.

IMO for Aetna Offering Advances

BlueChairMan — Fri, 20 Nov 2009 02:23:03 GMT

Anyone know an IMO offering advances with Aetna?

Sole Pro. or LLC?

GAHEALTH — Thu, 19 Nov 2009 23:22:18 GMT

For the independents out there - are you setting yourself up as an LLC or just as a sole proprietor?