On or Off Health Exchange?

[Anthonypa87]

Hello everyone,

I'll be taking my Accident/Health exam for PA (southeast region of the state for reference) in about 4-5 weeks, then my P&C shortly thereafter. With the expectation of passing, what are some of the better companies to sell for regarding health insurance? Aetna, Humana, UnitedHealthOne Etc. Which is best for Medicare products? Which for PPO's HMO's and group? Are commissions better or worse on or off the exchange? And lastly, hows the market as a whole in the insurance world regarding health? Any info would be greatly appreciated! Happy to be part of the forums now! Thanks in advance.

 

[HoosierLife]

You sure starting in health is a good idea???

 

[Sherota1]

You sure starting in health is a good idea???

What HoosierLife said is food for thought. If you get into health insurance now make sure it's not your main source of support. You will work at least 3-4 months straight without pay especially if you are doing mostly exchange business. Have a plan B. Sell other forms of insurance or have another source of income.

As for the best companies that's really going to depend on what companies are available in your area. Some companies provide more support in some areas and less in others. My advise is to talk to agents in your area. They will be more familiar with the carriers there. There are some companies that I have never sold with on the exchange but they are pretty good off the exchange, United Healthcare. They are pretty pricey with their ACA plans. I still have my pre-2014 plan so it's still reasonably priced. CareFirst doesn't deal directly with independent agents in the Mid-Atlantic region you must go through a GA. They only pay $15.75 per contract per month. Not per member as many other companies do. Kaiser in our area has the best compensation plan they pay you a flat rate per member no charge backs. They Also have bonus plans based on volume. Anthem has had the best agent support and customer support.

If you want to do this I wish you well. For advice and to see what you are getting yourself into check out the Health Insurance Reform Forum to see what issues you will be dealing with.

 

[Anthonypa87]

What HoosierLife said is food for thought. If you get into health insurance now make sure it's not your main source of support. You will work at least 3-4 months straight without pay especially if you are doing mostly exchange business. Have a plan B. Sell other forms of insurance or have another source of income.

As for the best companies that's really going to depend on what companies are available in your area. Some companies provide more support in some areas and less in others. My advise is to talk to agents in your area. They will be more familiar with the carriers there. There are some companies that I have never sold with on the exchange but they are pretty good off the exchange, United Healthcare. They are pretty pricey with their ACA plans. I still have my pre-2014 plan so it's still reasonably priced. CareFirst doesn't deal directly with independent agents in the Mid-Atlantic region you must go through a GA. They only pay $15.75 per contract per month. Not per member as many other companies do. Kaiser in our area has the best compensation plan they pay you a flat rate per member no charge backs. They Also have bonus plans based on volume. Anthem has had the best agent support and customer support.

If you want to do this I wish you well. For advice and to see what you are getting yourself into check out the Health Insurance Reform Forum to see what issues you will be dealing with.

First, thank you very much for the quick and detailed response! I'm learning a lot from posts and it's only confirmed my reason for joining the forum. Regarding what you and hoosierLife asked, no, I am not sure if I want to start with Accident&Health. At least not by themselves. I finished my required pre-credits for Life, Health and Annuities. I could/can take the exam for all three if I chose since I haven't scheduled any exams as of today. The problem I am having (for sake of argument) is I realized during my studies I want sell P&C (personal lines) auto&home insurance. It draws much more to my personality. I didn't want to waste the money on the course or the potential licensing so I will continue with the Life/health at the moment. As far as income goes, yes I do currently hold a full time job while in the process of career transition. I probably should have mentioned that in the post. For some background, I work for a financial services business in a lower income area and figured while I carry the health license and study for P&C I could make use of it and sell or partner with other brokers for Medicare, Insurance subsidized plans etc. Until I received my P&C Licenses.