Health Insurance Broker information?

thatdguy · 01-22-2008, 10:00 PM

I am currently selling Life Insurance and very new at it, but have sold a good number of policies in the last 3 weeks. I have had 2 of the 6 people sold ask about health insurance, so was thinking about maybe incorporating that as well. I don't want to sit there and give too many products and options, but if they ask - why not.

Are there any brokerage institutions that are signed up with multiple companies for/in California? I used to sell Health about 10 years ago, so I am quite familiar with it.

I don't want too many products to offer, but maybe just 2 companies to work with. Thanks

*STIBROKER@AUSTIN.RR.COM* · 01-22-2008, 10:15 PM

Is that how you handle your life clients......

Originally Posted by thatdguy

I don't want too many products to offer, but maybe just 2 companies to work with. Thanks

thatdguy · 01-22-2008, 10:52 PM

You mean when I search through several different insurance companies prior to meeting with them and have it narrowed down to a couple programs. Yes. Do you sit there and give them 20 options? I hope you offer your clients EVERY SINGLE company out there, because if not you are doing them an injustice. Right? Because that is what some of your people seem to hint at. Don't leave out one company or one option StiBroker!

Anything constructive to respond with or just jumping on the ass-bandwagon?

It would be great to actually have people respond that aren't complete jerkoffs.

GreenSky · 01-22-2008, 11:42 PM

My opinion (for what it's worth) is that you need a contract with Blue Cross, Blue Shield and Health Net, including the Farm Bureau program through Health Net.

You will not place much with either of the Blues because that's what 75% of the people already have. However, I think the Health Net has better plans and you can "out compete" many other agents.

Now for people on Cobra or on their spouses group, you can help them with any of the 3 carriers. Most people really should be on HSA plans and each of the companies have their place. Blue Cross covers all recommened preventative care but this won't really interest anyone unless they are close to or over 50.

Blue Shield might be competitive with their HSA 4000 but usually is higher priced than the same plan through Health Net.

The Farm Bureau program covers maternity with a max out of pocket of $3,600 but their other HSA plans without maternity go as low as $1,750.

Hope that helps.

Rick

thatdguy · 01-23-2008, 10:08 AM

Great.. thanks RICK! I appreciate your help!

*STIBROKER@AUSTIN.RR.COM* · 01-23-2008, 10:10 AM

Wrong.....health insurance is a totally different animal than life insurance because of the underwriting and plan designs differ from co. to co......you have to have a working knowledge of all the plans on the market from group plans to individual plans to find your clients best option to fill their needs....no way I could do this with just a couple of company's and a couple of plans.....sorta like NAA agents only selling non~med slam plans.....you have to look out for your clients best interest rather than your own......

Originally Posted by thatdguy

I hope you offer your clients EVERY SINGLE company out there, because if not you are doing them an injustice. Right?

GreenSky · 01-23-2008, 10:38 AM

Originally Posted by STIBROKER@AUSTIN.RR.COM

wrong.....health insurance is a totally different animal than life insurance because of the underwriting and plan designs differ from co. to co......you have to have a working knowledge of all the plans on the market from group plans to individual plans to find your clients best option to fill their needs....no way I could do this with just a couple of company's and a couple of plans.....sorta like NAA agents only selling non~med slam plans.....you have to look out for your clients best interest rather than your own......

In California, there are only 5 "main" carriers writing individual policies. I find Aetna useless and PacifiCare has little to offer. That leaves the 3 carriers I mentioned in my last post.

As far as knowing the plans, I subscribe to Zapquote.com and when I run a quote it includes all carriers with a brief description of the plans themselves.

Of course one should have a working knowledge of all plans available but that wasn't the question. The question was who to represent not which companies wrote insurance in California.

Rick

JRoot · 01-23-2008, 11:58 AM

Thatdguy,
In CA, you can contract directly with the 5 main carriers. No need to go to a brokerage unless you want the help they give you.

Also, GreenSky is right, read up on HSAs...These are getting alot of my new IFP business.

If you're looking for a GA, try Word & Brown Group Health Insurance Administrators, Inc.. I don't use them, but have heard some good things. They'll quote and make recommendations for you if you're not comfortable yet.

Dave020 · 01-23-2008, 12:32 PM

If you are going to be writing IFP and not group, DO NOT use a GA! There is no GA override for IFP and they will put it under their agent number with you as sub-agent, meaning THEY own it not you.

In CA, contract with Blue Cross, Blue Shield, Health Net and also offer a bit of Kaiser (it's referral not full agent servicing). Adding Kaiser lets you get the referral fee for business you would not place with the other carriers anyway (there are those who only want Kaiser so you might as well get something for it).

Each of the three main carriers offers agent connect web sites that allow prospects to work through you and do plan research online. They have "plan finder" in them to help the prospect narrow down and find the best plan fit.

Rick has a good point that Zapquote offers a lot. You can run full benefit quotes with this program and tailor it to your needs.

Aetna is available and also has the web connect system. I am leary of Aetna since they abandoned the CA IFP market a few years back. Nothing to stop them doing it again if exposure gets to hot again. P-Care is really just UHC in disguise. Read the UHC contract carefully if you are thinking about P-Care - let's say you would not be serving your long-term business interests by actually contracting with them and writing cases - there is no vesting in the contract.

Good luck and hope this helps!

Dave
The David Fluker Health Insurance Agency - Gilroy, California - Serving California Residents Since 1995

*STIBROKER@AUSTIN.RR.COM* · 01-23-2008, 02:12 PM

Just ran ehealth insurance and they gave me 7 company's......

Dave020 · 01-23-2008, 02:32 PM

Originally Posted by STIBROKER@AUSTIN.RR.COM

just ran ehealth insurance and they gave me 7 company's......

I think there are actually 8 if Nationwide is still active

Blue Cross CA (Anthem BC CA effective 4/1/08)
Blue Shield CA
Health Net CA
Kaiser CA
PacifiCare/UHC
Assurant
Aetna
Nationwide? (are they still selling any health in CA?)

MHart · 01-23-2008, 03:02 PM

California Individual Company List

Assurant
Aetna
Blue Cross CA
Blue Shield CA
Celtic
Farm Bureau Health Net
Health Net
Kaiser
Pacificare

These four are a must

Blue Cross CA (Strength is big portfolio offers everything imaginable)
Blue Shield CA Same as Blue Cross but usually priced higher)
Health Net (Strength is plans are priced competitively)
Farm Bureau Health Net (Great HSA Plans)

For HMO lovers
Kaiser

GreenSky · 01-23-2008, 06:52 PM

Originally Posted by MHart

California Individual Company List

Assurant
Aetna
Blue Cross CA
Blue Shield CA
Celtic
Farm Bureau Health Net
Health Net
Kaiser
Pacificare

You forgot Mega and UA.

Nice to see that everyone agrees with me! What took you guys so long?

Rick