Anyone Selling ACA Type Policies Only?

[RicFlairII]

I am a P&C agency owner who has done little with health insurance.

I got a call from a former co-worker ( I used to be with a huge captive),
and this guy recommends I pick up Blue Cross or similar and do
"Obamacare" enrollments.

I told him it is a little late in the game, but he said there is still demand,
and will be until at least March. I was offered a Blue Cross contract a
few months ago but didnt accept, he suggests I go back and get it.

He said he did 100 enrollments last month using mainly a lead service.

Like I said, I havent done a whole lot of health ins. ever, but have been
a P&C agent/agency owner for nearly 30 years.

What do you experts think? Is there a lot of training involved? Or can
I hit the ground running? Give me pros/cons if you can. Thanks

 

[timamr]

stay out of it Ric!! This is Dusty Rhodes!!! Woooo!!!!

 

[yorkriver1]

I had to clean up a situation where a P&C agent had quoted a family a $500+ subsidy, but when we met, it was obvious that they didn't qualify. One spouse had group insurance available at work. It was past open enrollment at the employer, and fortunately, the plan they chose should take good care of them for a bit more than the work insurance. Serious family illness involved.
I mentioned this to the agent, "oops", that's why we are referring these to you now.
ACA could be way more trouble than it's worth, unless done by someone who is devoting plenty of time to training. A distraction for a P&C agency, unless hiring a specialist or doing mutual referrals.

 

[pcbinsurance]

"I told him it is a little late in the game, but he said there is still demand,
and will be until at least March"
*****************
Only about 44 days left in open enrollment but you have plenty of time for the next open enrollment in October.

 

[Yagents]

Most of the smart P&C agents refer ACA business to people like me that do ACA full time......(& vice versa). That's only if you want it done right.

 

[RayNY]

Most of the smart P&C agents refer ACA business to people like me that do ACA full time......(& vice versa). That's only if you want it done right.

Between the potential $250k penalty for providing incorrect information, extra training and certification, and all of the stupid little technicalities you have to know, I've been seeing the same thing as Yagents. Most agents are staying away and just referring their business.

Any chance of mutual referrals with your former co-worker? It's likely a win-win for both of you.

 

[RicFlairII]

Any chance of mutual referrals with your former co-worker? It's likely a win-win for both of you.

Good question- but he mainly does P and C and does the ACA stuff as almost
a supplement because P and C gets a little slower in Nov. and Dec., so the
timing works out well.

That is why I am interested as well (possibly), as I know this guy wouldnt
be trying to talk me into it if he didnt think it worthwhile.

And I am not worried about fines, etc. as I wont be doing anything that is
not on the up and up.

 

[YouGotMyMoney]

And I am not worried about fines, etc. as I wont be doing anything that is
not on the up and up.

How would you know if EVERYTHING your doing is on the up and up?

 

[kgmom219]

How are you going to handle service issues? Service for health is significantly more complex and time consuming than P&C. How often does someone use their P&C vs Health Policy?

What happens when they have claim problems? Provider issues? Don't understand why the anesthesiologist didn't get covered at 100% after the deductible was met on a 100% plan? The surgeon was in network. The hospital was in network. What happened? (If you don't know that answer, that's fine, because all I understand about my car insurance is how much it costs and my agents phone number. Who happens to be a major referral partner for me).

Your lifelong P&C client will drop you after you screw up their health policy.

If you want to do this, great, but I think you are really opening yourself to a hassle, plus the potential to lose current clients.

 

[yorkriver1]

I have a contact who sells annuities and makes a great living. He keeps getting solicited by MAPD carriers to offer that coverage. I have warned him off. Huge distraction. We still haven't worked together. I need to remind him I would not touch his business other than for health/Medicare.