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Reply to Selling Individual Health by Phone     
Old 02-16-2016, 04:00 PM   #1
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State: Trotter is an Insurance Agent from Alabama
Selling Individual Health by Phone Selling Individual Health by Phone
I am looking at an opportunity to sell individual health insurance by phone
I have not been in the individual health market for some time; have been in other L&H fields
This agency sells a lot of Short Term Medical between open enrollment seasons. Regardless of whether the client qualifies for a special enrollment, if they qualify for a plan medically, they save so much money on premiums that it becomes worth giving up any premium subsidies they might be eligible for.
The agency also sells gap plans, which is definitely appropriate.
I thought I might check out who else might be doing pone/internet health insurance sales, either in the individual underage market or for medicare
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Old 02-16-2016, 04:36 PM   #2
DS4
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DS4 on Selling Individual Health by Phone
 
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
Originally Posted by Trotter View Post
Regardless of whether the client qualifies for a special enrollment, if they qualify for a plan medically, they save so much money on premiums that it becomes worth giving up any premium subsidies they might be eligible for.
Let me see if I get this right.
Take for example, someone losing employer group coverage, eligible for exchange plan w/subsidies, you would be inclined to sell short term medical to this person?

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D. Dayton Sayer IV
Dayton Sayer Insurance Agency, Inc.
Sayerins.com

"The most valuable commodity I know of is information" Gordon Gekko
  Reply With Quote to Selling Individual Health by Phone
Old 02-16-2016, 05:42 PM   #3
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Chazm on Selling Individual Health by Phone
 
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Selling Individual Health by Phone
And I'm pretty sure STM pays peanuts right?
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Old 02-16-2016, 05:59 PM   #4
DS4
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DS4 on Selling Individual Health by Phone
 
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
Originally Posted by Chazm View Post
And I'm pretty sure STM pays peanuts right?
And, STM is not MEC. Therefore, pay the IRS penalty.

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D. Dayton Sayer IV
Dayton Sayer Insurance Agency, Inc.
Sayerins.com

"The most valuable commodity I know of is information" Gordon Gekko
  Reply With Quote to Selling Individual Health by Phone
Old 02-16-2016, 06:15 PM   #5
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somarco on Selling Individual Health by Phone
 
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
STM pays peanuts
Pays more than $0 which is what most Ocare plans pay for SEP biz.
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Old 02-16-2016, 08:04 PM   #6
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
Selling Individual Health by Phone

I can help . . .pm me.
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Old 02-16-2016, 10:41 PM   #7
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AllenChicago on Selling Individual Health by Phone
 
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
Originally Posted by somarco View Post
Pays more than $0 which is what most Ocare plans pay for SEP biz.
Yep..like 20%-30% more, LOL. We should be paid 50%. They are an unbelievably lucrative product for insurance companies. In fact, there's a report that shows how small a percentage of STM plans ever pay a dime in medical care. I'll try to find it, and post it in an appropriate thread.
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Old 02-17-2016, 07:54 AM   #8
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Chazm on Selling Individual Health by Phone
 
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Selling Individual Health by Phone
I've done a couple of stm plans and it just seemed like a lot of work for a one time $60-80 commission. It's like selling a medigap plan when you know they are cancelling in 6 months.
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Old 02-17-2016, 08:02 AM   #9
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State: HealthBroker is an Insurance Agent from South Carolina
Selling Individual Health by Phone Re: Selling Individual Health by Phone
If you are only making $60 dollars then you might want to relook at what you are selling. STM's are very lucrative. There are a couple of other things to consider:
1. At the end of the six month period you have a new sale again.
2. You can add Dental or a CI plan to the sale.

So much better then selling 0% plans . . .besides its the only thing available now unless your client has an SEP . . .the you had really better make it a combo sale or you are really doing missionary work.

Glass half full . . .not half empty.
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Old 02-17-2016, 08:37 AM   #10
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somarco on Selling Individual Health by Phone
 
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Selling Individual Health by Phone Re: Selling Individual Health by Phone
So much better then selling 0% plans
Better for whom? Policyholder or agent?
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