Is This Bill GOOD for Agents?

[TXINSURANCE]

All of the reform threads aside are there elements that are GOOD for agents and GOOD for business? This could be a lot worse for agents maybe we should be quiet and take what is on the table?

Items that COULD be good for agents...

1. GUARANTEED ISSUE W/ MANDATE
This has never been attempted before and would GREATLY expand the market place either way you slice or dice it the market will grow faster than ever imaginable. It is hard to compare NY / NJ / ME GI to a national GI w/ mandate offset, as it has never been attempted.

2. NO GOVERNMENT PLAN OR MEDICARE EXPANSION
This bill is literally almost all 100% private insurance

3. GOVERNMENT SUBSIDIES TO BUY PRIVATE PLANS
All of the sudden big brother is going to help you sell more policies by picking up a portion of the tab.

4. EXCHANGE STATE RAN, NOT FEDERAL (Senate Bill)
There will be significant variation state by state and these website(s) could be CLUNKY , CONFUSING, and clients might need assistance (Imagine that!)

5. AGENTS EXPLICITLY NOT ELIMINATED
Bill specifically states preservation of agents roll

6. NO PRE EX WAITING PERIODS
Buy today, use tomorrow. Hey if the commission is the same... so what!

7. LOWER COMMISSIONS? MAYBE OFFSET BY HIGHER PREMIUMS?
Half the commissions and double the premium is a wash. Who knows.

8. SUBSIDIES NOT AT LOWER % OF POVERTY LEVEL
The family of four making $88,000 is no longer subsidized it is VERY low level of % of poverty level on last senate bill.

9. CHILDREN GUARANTEED ISSUE IMMEDIATE
Is this really a bad thing? If rates are sellable and policy is commissionable - everyone wins.

10. THINS THE HEARD
Lower commissions means VOLUME game. Small time agents go and sell something else. Lead pricing drops like a lead balloon. No one is ran away for farting in the last 5 years as a pre existing condition. Pregnancy is no longer a bad word.

Now the reverse thread could read "Is this bill BAD for agents?".

Every point above has a NEGATIVE counter position.

What will commissions be?
Will the subsidized portion be commissionable?
Will people even WANT or NEED an agent in a GI scenerio?
Will the mandate run most carriers out of business?
Will the CLR be set so there is no meat left on the bone (set at 80% on indvidual side)?
Will the mandate be ruled unconstitutional?
Will the whole bill get repealed?

MORE UNKNOWN than KNOWN but is this ALL NEGATIVE AND BAD? Is our current system SUSTAINABLE as a business model?

Hey I think the bill is bloated and being crammed at a VERY BAD time (we are broke and need jobs), but let's look objectively is it ALL BAD and GAME OVER? That I am not sold on as parts COULD (stress could...) be VERY lucrative for business if there is still meat left on the bone.

 

[CHUMPS FROM OXFORD]

"What will commissiions be?"

That's a big one.

10% level would be great.
7% level would be good.
5% level would be OK...I guess...assuming volume is good.

 

[Crabcake Johnny]

My opinion; it'll be a volume business. Agents willing to work hard will have a great career. Those "5 leads a day" agents used to working 2 hours a day will be looking for work.

 

[Winter_123]

Hey I think the bill is bloated and being crammed at a VERY BAD time (we are broke and need jobs), but let's look objectively is it ALL BAD and GAME OVER? That I am not sold on as parts COULD (stress could...) be VERY lucrative for business if there is still meat left on the bone.

Oh, I have been clear for years that change is coming but it is a step up from what we have in my state now and I am getting in when it comes.

Your mileage may and does vary.

 

[TXINSURANCE]

Any current GI state CAN NOT lose with this bill. That we can likely all agree.

 

[CHUMPS FROM OXFORD]

I wonder what effect it will have on the Netquotes, Insurmes etc...

Will brokers be willing to pay the same amount for leads? I assume not.

 

[Freddie]

I wonder what effect it will have on the Netquotes, Insurmes etc...

Will brokers be willing to pay the same amount for leads? I assume not.

So you think it will be bad for lead sellers? Health insurance stocks rallied today in a big way.

What do they charge now for good leads?

 

[Winter_123]

Any current GI state CAN NOT lose with this bill. That we can likely all agree.

The agents cannot lose because it is hard to go lower than zero. The states can lose though because the capacity for the health care insurance system to made worse by government is infinite even though we are already on the bottom in my state.

I am truly concerned that the whole thing could tank nationwide, which fits with the clivens-piven theory as discussed. If so, next stop is single payer.

 

[Dowejonez]

What do they charge now for good leads?

You can buy good leads?

 

[Norwayguy]

The agents cannot lose because it is hard to go lower than zero. The states can lose though because the capacity for the health care insurance system to made worse by government is infinite even though we are already on the bottom in my state.

I am truly concerned that the whole thing could tank nationwide, which fits with the clivens-piven theory as discussed. If so, next stop is single payer.

The States can definitely lose because a large part of the new people to the system will be Medicaid and the States (except Nebraska) have to pick up a portion of that.