Your job at the moment boys and girlies is name harvesting... Get the client for only one reason.... Name harvesting
Is Anyone Starting to Get a Strange Feeling
- Thread starter bill3173
- Start date
As mentioned else where on the forum, it depends on the costs. My main carrier believes they will have a better understanding of what comp will be in late January or Early Feb. They are leaning towards the MA model.
I expect my production on the IFP will go to a trickle after 6/1/13. My rep at my main carrier believes the same. They are expecting a lot of people to take the risk for 6 months until 1/1/14 gets here.
I expect my production on the IFP will go to a trickle after 6/1/13. My rep at my main carrier believes the same. They are expecting a lot of people to take the risk for 6 months until 1/1/14 gets here.
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Anthem CA is offering a 2013 bonus program on IFP, 300 subscribers nets you $50,000 bonus (it tiers up from around 5 I believe). Not too shabby give the short-term nature of those sales
50 K wow, very nice.
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I spend the same time with health prospects as I always have and try to explain what is going to happen with coverage under the new law. I most always get a chance to look at their other coverage and there is my profit. I am getting lots of calls for quotes.
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I'll spend time as well, but I'm not certain what is going to happen with coverage under the new law(s). The best I can do is offer what I and others think may happen, make a recommendation, and let them make their choice. As long as I feel I've educated them to the point where they feel comfortable enough to make the choice. If things go sideways next year, I know we've at least talked about it.
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I'm getting a strange feeling that either health insurance companies are starting to let go of underwriters, and/or they're becoming more reluctant to approve policies that will likely be canceled 10 months from now.
Humana and Aetna have traditionally approved "clean" applicants in less than 48 hours. But as of this year, it's taking much longer. In fact, I put in 1 with Humana / 2 with Aetna 12-14 days ago and they're still pending... with no outstanding requirements. Usually, after the telephone interview, a quick approval, or a request for a physical follows. I call Aetna/Humana and all they can (or will) tell me is that the applications are still in Underwriting awaiting final review.
There's been a flurry of staff meetings in the companies this month too. I think they're waking up to the reality that BIG changes are on the way, and that they'd better make some BIG decisions to match.
-ac
Humana and Aetna have traditionally approved "clean" applicants in less than 48 hours. But as of this year, it's taking much longer. In fact, I put in 1 with Humana / 2 with Aetna 12-14 days ago and they're still pending... with no outstanding requirements. Usually, after the telephone interview, a quick approval, or a request for a physical follows. I call Aetna/Humana and all they can (or will) tell me is that the applications are still in Underwriting awaiting final review.
There's been a flurry of staff meetings in the companies this month too. I think they're waking up to the reality that BIG changes are on the way, and that they'd better make some BIG decisions to match.
-ac
allen, humana notified underwriters that changes were coming in October I think was the date. I was told more than a few walked. some were relocated to other positions. if they quit b4 the drop dead date then no severance would be paid.
with these changes they informed me that underwriting times had grinded to a slow stall.
this procedural move will or has taken place with all companies...
with these changes they informed me that underwriting times had grinded to a slow stall.
this procedural move will or has taken place with all companies...
In CA they have had Exchange Type plans for years....it is called Healthy Families. They get Health Insurance agents to help people understand even those plans and they are even more simple than what will be in the NEW Obama Exchanges.
We have every indication that the carriers will still need Ins Agents to help advise customer as to which exchange plans to choose. Agent can then sell supplements such as Accident, CI, Dental, LIFE ect.
Has the business model changed? YES
The new model is you use Health Insurance to get in the door but you must be a ONE Stop Shop or your going to starve.
We have added companies that offer small Accident Plans, Critical Illness Plans, Dental, Education Fund Annuities, Life Insurance etc.
With the maximum OOP on the exchanges being just under $5,000 it will be $5000 supplements that bring in the additional revenue, along with Education Annuities and Life Policies.
We feel a LOT of agents will bail, but the ones left who can become advisers to these customer will be in good shape.
We have every indication that the carriers will still need Ins Agents to help advise customer as to which exchange plans to choose. Agent can then sell supplements such as Accident, CI, Dental, LIFE ect.
Has the business model changed? YES
The new model is you use Health Insurance to get in the door but you must be a ONE Stop Shop or your going to starve.
We have added companies that offer small Accident Plans, Critical Illness Plans, Dental, Education Fund Annuities, Life Insurance etc.
With the maximum OOP on the exchanges being just under $5,000 it will be $5000 supplements that bring in the additional revenue, along with Education Annuities and Life Policies.
We feel a LOT of agents will bail, but the ones left who can become advisers to these customer will be in good shape.
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