Gi States - Worth The Time?

TXINSURANCE · 08-30-2007, 11:52 PM

Is there any money selling Individual Health in GI states - i.e. MA, NY , NJ, VT - particularly MA ?

I am reading about how "great" the MA system is working - or course I don't agree but from a business standpoint GI would sure make my life easier.

Are any brokers making any money in these states or have the carriers cut out the broker and pay no commissions? Particularly MA is what I am wondering as I know most of the GI states are simply not affordable or marketable.

Any feedback would be appreciated.

Thanks!

newmindfashion · 09-04-2007, 10:41 AM

TXINS.
Most of these GI states are in my neck of the woods. Although the GI factor makes life easier in one respect, there is little or no compensation on GI individual products for brokers and the programs are very expensive in those states.

In MA, the Commonwealth Connector pays brokers $10 per month, per employee. I am still trying to determine if brokers get any compensation on individual Connector cases. I have heard its only group. Before the MA Connector, most carriers paid $0 on individual cases. BCBS of Rhode Island (not even a GI state technically) pays $0 on individual plans.

Although I may be wrong, I think a broker has to have a physical NY location to be able to sell individual health products there and I imagine the compensation is quite low. Individual GI raises the premiums and lowers commission to little or nothing.

Frank Stastny · 09-04-2007, 11:26 AM

Originally Posted by TXINSURANCE

I am reading about how "great" the MA system is working - or course I don't agree...

Neither do I, specifically as it applies to the PFFS programs.

TXINSURANCE · 09-04-2007, 02:32 PM

Thanks for the feedback - I figured most of these states would cut out the broker , this is the socialist way after all.

senior-advisor-indiana · 09-05-2007, 01:13 AM

Was that a joke Frank? If it wasn't it still made me laugh.

Alston · 09-05-2007, 07:59 AM

I've heard that some agents will offer health and/or auto insurance in states that don't pay commissions just to get in front of more prospects for other products.

It is not the route that I would take, but I'm sure that if you see enough people, you will make some sales for commissionable products.

TXINSURANCE · 09-05-2007, 03:18 PM

I've heard that some agents will offer health and/or auto insurance in states that don't pay commissions just to get in front of more prospects for other products.

It is not the route that I would take, but I'm sure that if you see enough people, you will make some sales for commissionable products.

Sorry I don't do volunteer work, I understand the theory - but I believe my time is worth money I won't do very much for free unless it is for my family perhaps and not insurance of course.

The future is very uncertain and change is inevitable, the health industry is on shaky ground right now.