Just wanted to see if anyone knew anything about Health Insurance in New Jersey, or is actively writing in that state?
I've done some individual life cases up North, but my friend in NY said that NJ health insurance was messed up and wished me luck(I was trying to give him a new client that's moving).
Can anybody shed any light on this assertion?
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No Government can be long secure without a formidable Opposition.
Can anyone afford indy coverage in NJ, that's the real question you should be asking.
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Mark
"Corner Bar"---Independent Agent Anthem
My credit score's fallen like the New York Mets
There ain't a debt collector that ain't called yet
They say, "Money don't talk, it only swears"
And got me cussing in my underwear
Just wanted to see if anyone knew anything about Health Insurance in New Jersey, or is actively writing in that state?
I've done some individual life cases up North, but my friend in NY said that NJ health insurance was messed up and wished me luck(I was trying to give him a new client that's moving).
Can anybody shed any light on this assertion?
I am not sure but I think New Jersey is guaranteed issue. I would confirm that first. If it is true then it will be expensive and frigged up. I think Obama is using it as a model for the national plan because cost is not a factor in his planning.
------------------------------------ Spending Our Way to Prosperity
I am not sure but I think New Jersey is guaranteed issue. I would confirm that first. If it is true then it will be expensive and frigged up. I think Obama is using it as a model for the national plan because cost is not a factor in his planning.
I may do a little research on it this weekend, really don't have time this week. I did pull up the Blue and United rates for the area in NJ that I was looking at, and they seemed high.
I was hoping that someone "in the know" would respond, but if its a tight little competitive market, well I don't know. NJ hardly ever comes up on these forum discussions.
Isn't your state GI? You can still make money on health insurance in GI states, right? Don't they allow for broker assisted apps?
Isn't your state GI? You can still make money on health insurance in GI states, right? Don't they allow for broker assisted apps?
What is legal and what is the practice in the market are two different things. You can legally get a commission if there is any carrier or product to work with if you are indendent. Yes, I am in a guaranteed issue state. Anthem owns the whole thing lock, stock, and barrel with a smidgeon of Aetna and Mega. I am talking individual plan. Anthem only sells through its captive force or brokers they approve because all they do is health. You dont need a broker anyway. Just go sign up online. After all, it's guaranteed issue.
When you said that "New Jersey never comes up in discussion" you inadvertently said a mouthful. There is a reason for that. There are folks here arguing what the environment will and will not be like under guaranteed issue. I have suggested ad nauseum that you might want to talk to agents in guaranteed issue states and ask how they are doing (or rather not-doing) already rather than theorize.
What is legal and what is the practice in the market are two different things. You can legally get a commission if there is any carrier or product to work with if you are indendent. Yes, I am in a guaranteed issue state. Anthem owns the whole thing lock, stock, and barrel with a smidgeon of Aetna and Mega. I am talking individual plan. Anthem only sells through its captive force or brokers they approve because all they do is health. You dont need a broker anyway. Just go sign up online. After all, it's guaranteed issue.
When you said that "New Jersey never comes up in discussion" you inadvertently said a mouthful. There is a reason for that. There are folks here arguing what the environment will and will not be like under guaranteed issue. I have suggested ad nauseum that you might want to talk to agents in guaranteed issue states and ask how they are doing (or rather not-doing) already rather than theorize.
Sounds like you're trying to talk yourself out of selling health. Why don't you give it a shot, you may make some money. GI wouldn't stop me. They're paying a commission, set up a kiosk in the mall and make some $$.
Sounds like you're trying to talk yourself out of selling health. Why don't you give it a shot, you may make some money. GI wouldn't stop me. They're paying a commission, set up a kiosk in the mall and make some $$.
Uh okay. As noted, the independent agents from the guaranteed issue states can chime in here and tell us how it is done. Oh, that's right too.
Hell, the kiosk thing works pretty well for the Scientologists. If you play you're cards right, you may be able to pick up a free copy of L. Ron's Dianetics.
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[COLOR=blue]Don't steal - the government hates competition.[/COLOR]
When you say GI state, what exactly are you referring to? I'm in Michigan and BCBS here is GI, with no underwriting. They pay a whopping 2% on people with health issues. Other than that, we have all the other carriers doing business as usual except for one little thing. Carriers are not allowed to rider past 1 year, so many "normal" conditions that would be ridered elsewhere, are an automatic decline and good 'ol Blue gets 'em. Nice racket they run around here.
It doesn't matter, reality is coming home to roost with me. Getting referrals from client's families and friends in large doses from other states that I'm not licensed in and it's driving me nuts.
I wrote 280 individual life, health and a smattering of DI and annuities last year, and the referrals are kicking my behind. Just got off the phone with a realtor in NV that is a close friend of one of my best clients and she wants to give me a list of people that need health insurance, including her.
When you say GI state, what exactly are you referring to? I'm in Michigan and BCBS here is GI, with no underwriting. They pay a whopping 2% on people with health issues.
Not entirely true the 2% is on the REAL sick like CANCER and HIV. Most other commissions are 8% on people with health problems. You can get commissions up to 20% on the healthy now in MI, but it is not competitive.
MI is RARE as it is a carrier of last resort and VERY ODD setup. Most GI states pay little or NO commissions.
Would I take GI in all 50 states if rates were good and 10% commission - you bet! The only problem is it might be 10% in the short run (if even permitted by law), but long term 10% is out of the question.
Maybe 2 to 5% or a per head amount.... or nothing...
Ultimately the less competition the consumer suffers, but let's call it what it is - this is a back door way to national health care, you would have to be blind no to see that.
Bill,
I write health in NJ. It is a GI state and commissions reflect it. 5% is the best I can get at home so I focus in other states. PM me or email me if I can be of assistance.
Bill,
I write health in NJ. It is a GI state and commissions reflect it. 5% is the best I can get at home so I focus in other states. PM me or email me if I can be of assistance.
Bill,
I write health in NJ. It is a GI state and commissions reflect it. 5% is the best I can get at home so I focus in other states. PM me or email me if I can be of assistance.
Glad to know you. I'll PM you the contact's info as soon as I get it. Working on the family's coverage right now, but a relative is fleeing to NJ and I should get their info. in a couple of days.
I get request for health up north pretty regularly, and will pass the info. on to you gladly. Everybody is getting so scattered these days.
Aren't agents making money in NJ even at 5%? I've heard that they are making up for it with monstrous volume, is that correct?
The volume really isn't here for individual health. However almost everybody qualifies for a group plan. In NJ a group is considered at least two eligible, and a 1099 can count. So most that would purchase an individual plan elsewhere find a way to qualify for a small group plan by putting their spouse or family member on the books.
With that said NJ is the most congested state in the union, so there is a great volume of people and plenty of business to be written.
NJ is a wonderful state for individual health insurance,4 or 5 companies to choose from, and rates are sky high, I pay almost 900 dollars per month for a middle of the road bcbs family policy. The person who sold me the policy told me how much they made on commission, I felt sorry for them. I sure wouldn't waste my time selling them.
New Jersey Health Insurance
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