Fear The Health Insurance Exchange

[InsureGuy5]

As agents, these so-called exchanges might be our biggest concern at this point. They are being compared to discount supermarkets - say Walmart for instance.

These exchanges are likely designed without the agent in mind and like big box superstores - they will take business from the little guys.

I am curious as to how they work, but I suspect their goal is to cut out the middle man. Someone will call us for advice, pick our brains about the plan they need, and then buy it on the exchange for less. Is this a possibility?

 

[Justin Bilyj]

It will take business away maybe, but look at who shops at walmart people looking for a deal. I want smarter clients, who understand the need for a broker, and values that. People don't understand health insurance that much anyways, its not like they are gonna go to the exchange and understand it. I think this just clears the air for a better class of clients, of course if you have more than one toy in your bag...

 

[Winter_123]

As agents, these so-called exchanges might be our biggest concern at this point. They are being compared to discount supermarkets - say Walmart for instance.

These exchanges are likely designed without the agent in mind and like big box superstores - they will take business from the little guys.

I am curious as to how they work, but I suspect their goal is to cut out the middle man. Someone will call us for advice, pick our brains about the plan they need, and then buy it on the exchange for less. Is this a possibility?

I think the exchanges present a whole new challenge as far as getting customers to come to you when the state is sponsoring "learn abuot the health exchange - know your options" type of meetings in your area every other week. Note that I did not say that some agents will learn to work with/around it. Only that it is going to be another challenge.

Having said that, I don't see the "buy it on the exchange for less" scenario coming. I think the rates will be regulated and what you see is what you get regardless of where you purchase it.

My view anyway. Also, we dont know. And we dont know what will pass and we dont know what will hold up and not be repealed if something does pass. Other than that it is pretty clear.

 

[InsureGuy5]

My thought is that the smarter clients will come to us first, get the information they want, and then purchase from the exchange.

 

[Crabcake Johnny]

They can do that now - get the info from us they go apply right through the carrier.

 

[CHUMPS FROM OXFORD]

I posted my concerns months ago. The "Exchange" is more worrysome than a "Public Option."

But we'll survive...even if the compensation is 5-5.

 

[Crabcake Johnny]

Should I go ahead and buy marylandhealthinsuranceexchange.com?

 

[Winter_123]

I posted my concerns months ago. The "Exchange" is more worrysome than a "Public Option."

But we'll survive...even if the compensation is 5-5.

It is a combination of factors. GI changes the landscape. Exchanges woulnt work if you had to do individual underwriting on everyone. It is the GI element that makes it an off the rack commodity where the agent is needed less. Yes, we know the "agents will always be needed" and the smart clients will still come to us rap. Just saying, GI is the mother of all gamechangers and the rest follows.

 

[Crabcake Johnny]

The Massachusetts Connector has only enrolled 18,000 people in the past three years yet total health care enrollment was 170,000. Subtract to see how many people won't buy insurance online through an exchange.

More fun Mass. facts:

There's currently a 100 million shortfall
They are requesting 1.5 billion from the Fed gov't
16% less business starts ups
Current average wait to see a primary care physician is 63 days
The entire system is being sued and under appeal for being unconstitutional (state constitution) - whereas the state does not have right to force people to purchase insurance or a tax penalty is imposed.

 

[TXINSURANCE]

As agents, these so-called exchanges might be our biggest concern at this point.

Our bigger concern would be GI with NO mandate (or failed mandate - i.e. $94 fine!!!) AND CLR of 80% on the individual market (even higher on some non profit companies).

Remember there is no 12 month wait or 63 day lapse issues, you can sign up - use it right away and cover your KNOWN expenses with NO WAIT!!!

Irresponsibility rewarded at all levels.