Hello, my first time posting. I have been following some of the information on this forum. It has been very insightful. I have 22 years experience but tend to do things the "old way" (just stopped using paper apps recently) .Now, I am considering using Quotit. They told me for purposes of A.C.A I would be considered a "Web Broker". However a carrier rep told me only einsurance and the like are "web-brokers" However in the recently released 12 page document (posted on this site last week ) . Top of page 8 seems to say that if the consumer accesses your site and can enroll from there you are considered a "web broker". My concern is that "web-brokers" have a different set of mandates to follow. Maybe I should just stay as a "Traditional Broker." My other concern is that there are/will be so many of these "web-brokers" I will be investing in something with little R.O.I. Any thoughts?
New to the Forum.
- Thread starter Broker22
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Quotit and Norvax are valuable tools for the agent to have. I use Quotit, but Norvax is just as good. Some people on this forum have recently signed up, and worked out a deal where the initial fee is waived and the monthly fee is discounted 20% or so. Full cost is about $79 monthly, and the first sale or two will bring in $79 monthly, so it pays for itself quickly. It will also save you a lot of time. After you've used it for a while you'll never go back to manually quoting or using various carrier's quoting capabilities.
This is just my opinion...., but I believe that agents who utilize Quotit or Norvax will be considered "web brokers" per CMS guidelines. Personally, this is the way I think I would prefer it. If using Quotit or Norvax didn't make me a web broker, I probably would use the "direct to the carrier" way. I think the Exchange will probably be a "train wreck" as Senator Baucus said, and I don't want them submitting my applications to the carrier, nor being the entity that tells the carrier who gets the commission.
Just my 2 cents.
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By the way, welcome to the forum. With your 22 years of experience, you can add some valuable content! What state are you in, and what is are your main markets?
This is just my opinion...., but I believe that agents who utilize Quotit or Norvax will be considered "web brokers" per CMS guidelines. Personally, this is the way I think I would prefer it. If using Quotit or Norvax didn't make me a web broker, I probably would use the "direct to the carrier" way. I think the Exchange will probably be a "train wreck" as Senator Baucus said, and I don't want them submitting my applications to the carrier, nor being the entity that tells the carrier who gets the commission.
Just my 2 cents.
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By the way, welcome to the forum. With your 22 years of experience, you can add some valuable content! What state are you in, and what is are your main markets?
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Thanks Ann. I have read your posts in the past and greatly respect you thoughts. So it sounds beneficial to be the "web-broker" which means I need to get appointed with all carriers available in my state. I can do. Brings me to my question of driving business to my site,do you use SEO? Can you recommend a company or process to get my website"out there"?
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Thank you. Ann, I am in Pa and I sell Individual health. Some small group and Individual life. Plan b has been MAPD sales and I have made progress. But it appears Plan A ,(individual health ) is not going out without out a fight ie..more money to be made.
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Thank you. Ann, I am in Pa and I sell Individual health. Some small group and Individual life. Plan b has been MAPD sales and I have made progress. But it appears Plan A ,(individual health ) is not going out without out a fight ie..more money to be made.
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My problem with the web broker rule is that my website will be offering plans even with the regional carriers. If we want that business, we have to contract with potentially dozens of the little fish. I don't think I want that administrative hassle and I don't want to market for a company that isn't going to benefit me.
My impression is Norvax/Quoteit are the "web brokers", and we would just be leveraging their status as a web broker. Using their security/privacy technology, to hook up with the exchange/carriers, and alleviate the need for agent websites to comply with the heavy tech requirements.
True, however per the conversation I just had with Norvax, when someone goes to your site every carrier will be listed regardless of your association.
The good news is that Norvax is setting up their system to do the subsidy qualification for you and will direct the consumer to the right marketplace.
Maybe it's time to bite the bullet and contract with more carriers, or just realize the cost of doing business with a quote engine is that some consumers through my website won't be actual clients....I hate a certain
carrier here, but if they are going to be the major player, it might be an evil necessity.
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Is this just for agents that sign on under their GoHealth GA banner? Will the agent be pushed out of the loop if the client selects a carrier that the agent isn't appointed with?
Truly not trolling, just trying to see what their plans may be.
Thanks!
Anyone with a Norvax quoting engine will have this. He did say that they are still working on the release (their information from HHS is just as clear as ours is). As I understand it, yes, you will be pushed out of the compensation loop if you are not appointed, but as Yagents pointed out, if a consumer is presented with a choice between two products priced the same, one has a brand name and the other is a generic name, the consumer will pick the brand name. This is true with insurance; if the consumer is forced to choose between a well recognized carrier versus an unknown regional carrier and both are priced the same, the well recognized carrier will win. Make sure you are contracted with the major carrier.
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Quotit told me we would be the "Web Broker" Quotit is the software supplier. As with much of the "information" swirling I don't know how accurate it is. But that is what I was told. I may go with a fill out this form model you mentioned on another post and use my carrier sites as I do now then I won't be a "Web Broker" and won't have to deal with the headache that appears to go with it.
