Are Health Insurance Agents Going to Get Rich?

Mark

Guru
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7,924
Georgia
I just saw something online saying that Health Insurance agents will get flood with business soon from ObamaCare.

Do any of you think you are going to get rich from it or will get a ton of new business from it?
 
I just saw something online saying that Health Insurance agents will get flood with business soon from ObamaCare.

Do any of you think you are going to get rich from it or will get a ton of new business from it?

Yes I'm going to get insanely rich because all those millions of people will be afraid of the new TAX in 2014 and will flood my office with calls.
 
It's interesting - I really wish I could get a few of my friends who still write health insurance for a living to post their positive take on this come 2014 - but they're all busy selling health insurance.

I'll just say this - quite a few very excited phone calls yesterday from agents who can't wait to sell GI plans.
 
The penalty for not having H insurance will be 1% of your total income. And if you are in the lowwer income rate you probably won't have to even pay that, (the libs allways go after the people who work for a living and not just sit on the GOV dole). So I don't think there will be a flood of people who do not have coverage now giving you a call. :nah:
 
I hope so!

It all depends on how the exchanges are set up.

Hey, give me $21 per contract per month and I will be on my way getting up that great big hill of hope! Pick up a couple 1000 contracts and you are there.

The set up of the Federal Exchange will determine a lot.
 
I hope so!

The set up of the Federal Exchange will determine a lot.

You're right, half the states won't be ready for exchanges and the feds will step in or partner. Much like PCIP. Agent involvement may also be similar to PCIP. That's the scary part. I'm still bitter about being used and abused and shorted a good $500
 
You're right, half the states won't be ready for exchanges and the feds will step in or partner. Much like PCIP. Agent involvement may also be similar to PCIP. That's the scary part. I'm still bitter about being used and abused and shorted a good $500

Per HHS, each state - not the feds - will determine the level of agent compensation, if any. It'll end up being quick the cluster as 10 states have 10 different compensation structures. Carrier comp departments will have a blast.
 
Per HHS, each state - not the feds - will determine the level of agent compensation, if any. It'll end up being quick the cluster as 10 states have 10 different compensation structures. Carrier comp departments will have a blast.

You're right if the state sets up their own. But if done by the fed, I assume it's a takeover, unless they choose the "partnership" option with the feds. Comp will actually be determined and paid for by the insurance companies on metal plans. I'm speaking of participating in comp for selling medicaid plans, in the exchange, run by the feds. To me, that adds up to $0
 
We just don't know.

For us to be successful the comp has to look like medicare or maybe Utah's exchange.

If the exchange comes in and say well we will give you $50 per contract then forget them. I will sell against the exchange to all the people that do not qualify for subsidies. (middle class)
 
States will not set up their own exchanges, they will let the feds do it.

States will not expand Medicaid, that is a federal problem, not theirs.

There will be no subsidies to offset the high health insurance premium purchased anywhere, exchange or not.

As Winter says, what a mess.
 
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