This is bizarre. The will have insurance exchanges? We already have insurance exchanges. It is called the insurance agency business. We help client navigate the complexities of financing your health needs. Who is going to do this now? People will have problems with language. We help people every day with this stuff, counsel them, help them with claims etc. Who is going to do that now? We make a small commission with which we cover our expenses including retirement. We work very hard. I repeat, who is going to do that now?
Lou, don’t you understand that the government is replacing you as the insurance counselor/agent? The exchanges will be nothing more than an online app that will be processed by unlicensed geeks to obtain medicaid style coverage and no advice on options. The companies have to meet the 85% MLR so that means agents will be cut out of the picture. If they have severe losses due to all the PreX’s out there, they merely apply to the government to subsidize the company so they can stay in business. Get the picture now?
I’m not sure exactly why you are seriously concerned. There would likely still be an opportunity for you to get these people out of the exchange, similar to insurer of last resort policies in other lines of insurance. However, the individuals that will likely end up in these exchanges most frequently aren’t individuals that would generate enough commission for you to even bother with them in the first place.
Yes and technology improvements will justify the ability for companies/ govt agencies to have eAgents further reducing the work force while expanding the costs of the govt. With the average of the 30 million new insureds barely over the new medicare limit, the govt debt will increase exponentially and poor service to all. Plaintiff attornees will be the only ones in America still “living the dream”.
Like many other insurer of last resort situations in other lines of insurance, I bet you, as an agent, will have the opportunity to get those insureds out of the exchange, if you’re willing to do the work and help them. However, that’s unlikely considering that these individuals won’t generate sufficient enough commission for you to even bother.
“A majority will enter the healthcare system relatively young and single, though significantly less educated and more likely to be unemployed or underemployed than the current insured population”
Whoohoo! Won’t these be great clients to have! REALLY?
The Government has just nationalized 19% of the economy. If you are a health only agent start looking for another line of work or go to work for the government and become dependant on the government. This is not just an Obama thing but a not so covert government takeover. Wake up America!
France, Greece, Spain, Portugal, Ireland, HMMMMMMMM. What do all of these countries have in common???? They are broke and trying to work out a deal with the other EU countries to keep from collapsing. What is a big part of their problems- Government giveaways like nationalized healthcare, free college tuition plans, liberal welfare plans etc. Sound familiar?
When you have unemployment north of 20%, unions rioting in the streets, the Euro tanking and tax rates like just passed in France of up to 75% like in France, I don’t think there will be a good outcome. France also went back to retirement age of 52. What a joke! They want to sit around and eat their cheese, bread and drink wine and let the government support them. The problem with Socialism is that pretty soon you run out of other peoples money and Europe is a prime example.
Two comments.
First, to clarify about Medicaid as reported – relatively few states are likely to try or be able to integrate Medicaid into the Exchanges. Financial viability needs them in, but it is unlikely.
Second, agents will lose some business as employers drop coverage, although the number is likely to be small.
Based on the Massachusetts experience it has been a real challenge to get employers to sign on when there is no subsidy involved. Not to say it is good for agents
Joe, are you saying the 30-40% of small businesses planning to drop their group health is a relatively small number? These employers see the handwriting on the wall and see that it will be unaffordable to them in a tough economy. Also, from what I have seen about the Massachusetts experiment, costs continue to rise and Patrick is having a tough time with the budget since Healthcare is their big ticket item. I understand they plan on scaling their program back to save money. Agents will get hosed since the companies have to meet the 85% MLR and there is nothing extra to pay expenses and commissions. Those agents heavily invested in Health Insurance had better get into P&C to survive.
I don’t know one small business personally that is planning on dropping their coverage. The small business that I know of are afraid of losing good employees to the competition for lack of a health benefit. But the “Chicken Little” of the US (aka Fox and The Right) believe this is the end of the world as we know it. Get used to the message, it’s as common as a penny from Agent, Sgt Major, and CT Agent. That’s all right, eventually they will see it’s not the End of Days as they pretend it is now.
Planet, you must live in a small cocoon separated from reality. You obviously aren’t exposed to the real world. It has been all over the news and internet for some time about the 30-40% of small businesses that will be dropping their Group Health due to Obamacare. I also discount your assumption about small business being afraid of losing good employees to competition. When small businesses are not hiring, where are these “good” employees going to go? I have a Partner who has a son who is very bright, graduated in the spring with a Marketing Degree and lives in the Dallas Metroplex. He has tried valiantly to find a job even at an entry level position and he cannot find one. Small business is sitting on their hands and will not hire until the government changes hands and they are incentivized to do so.
We hire. In fact, insurance and finance sector here is hiring regularly. See the new unemployment numbers today? Things are improving. Keep your chin up, Agent! Have a good weekend, too.
Are you talking about the massaged numbers the Labor Department put out this morning? Did you know Planet that the economy needs to create 250,000 jobs per month to stay up with population growth and new job seekers who graduate from college etc? They said 114,000 jobs were created. Is this the new math we are supposed to accept? Is this the October surprise that Obama can brag about after his abysmal performance in the debate? I think it is highly suspicious that the numbers haven’t changed in 43 months and the month prior to the election, it dips this much. I suspect the sevral hundred thousand dropping out of the workforce has more to do with it.
October 5, 2012 at 9:41 am
Captain Planet says:
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Holy smokes, this is a first ever since I entered the work force, many moons ago:
(my company) is pleased that we will be keeping 2013 rates for the medical plan the same and adding additional tier categories to better define plan participants. We will be offering five “2013 ___ Annual Benefits” webinars to explain upcoming changes.
This is bizarre. The will have insurance exchanges? We already have insurance exchanges. It is called the insurance agency business. We help client navigate the complexities of financing your health needs. Who is going to do this now? People will have problems with language. We help people every day with this stuff, counsel them, help them with claims etc. Who is going to do that now? We make a small commission with which we cover our expenses including retirement. We work very hard. I repeat, who is going to do that now?
Lou, don’t you understand that the government is replacing you as the insurance counselor/agent? The exchanges will be nothing more than an online app that will be processed by unlicensed geeks to obtain medicaid style coverage and no advice on options. The companies have to meet the 85% MLR so that means agents will be cut out of the picture. If they have severe losses due to all the PreX’s out there, they merely apply to the government to subsidize the company so they can stay in business. Get the picture now?
I’m not sure exactly why you are seriously concerned. There would likely still be an opportunity for you to get these people out of the exchange, similar to insurer of last resort policies in other lines of insurance. However, the individuals that will likely end up in these exchanges most frequently aren’t individuals that would generate enough commission for you to even bother with them in the first place.
Yes and technology improvements will justify the ability for companies/ govt agencies to have eAgents further reducing the work force while expanding the costs of the govt. With the average of the 30 million new insureds barely over the new medicare limit, the govt debt will increase exponentially and poor service to all. Plaintiff attornees will be the only ones in America still “living the dream”.
Welcome to France, England, Greece …
Spain, Portugal, Ireland.
Like many other insurer of last resort situations in other lines of insurance, I bet you, as an agent, will have the opportunity to get those insureds out of the exchange, if you’re willing to do the work and help them. However, that’s unlikely considering that these individuals won’t generate sufficient enough commission for you to even bother.
“A majority will enter the healthcare system relatively young and single, though significantly less educated and more likely to be unemployed or underemployed than the current insured population”
Whoohoo! Won’t these be great clients to have! REALLY?
The Government has just nationalized 19% of the economy. If you are a health only agent start looking for another line of work or go to work for the government and become dependant on the government. This is not just an Obama thing but a not so covert government takeover. Wake up America!
France, Greece, Spain, Portugal, Ireland, HMMMMMMMM. What do all of these countries have in common???? They are broke and trying to work out a deal with the other EU countries to keep from collapsing. What is a big part of their problems- Government giveaways like nationalized healthcare, free college tuition plans, liberal welfare plans etc. Sound familiar?
When you have unemployment north of 20%, unions rioting in the streets, the Euro tanking and tax rates like just passed in France of up to 75% like in France, I don’t think there will be a good outcome. France also went back to retirement age of 52. What a joke! They want to sit around and eat their cheese, bread and drink wine and let the government support them. The problem with Socialism is that pretty soon you run out of other peoples money and Europe is a prime example.
Two comments.
First, to clarify about Medicaid as reported – relatively few states are likely to try or be able to integrate Medicaid into the Exchanges. Financial viability needs them in, but it is unlikely.
Second, agents will lose some business as employers drop coverage, although the number is likely to be small.
Based on the Massachusetts experience it has been a real challenge to get employers to sign on when there is no subsidy involved. Not to say it is good for agents
Joe, are you saying the 30-40% of small businesses planning to drop their group health is a relatively small number? These employers see the handwriting on the wall and see that it will be unaffordable to them in a tough economy. Also, from what I have seen about the Massachusetts experiment, costs continue to rise and Patrick is having a tough time with the budget since Healthcare is their big ticket item. I understand they plan on scaling their program back to save money. Agents will get hosed since the companies have to meet the 85% MLR and there is nothing extra to pay expenses and commissions. Those agents heavily invested in Health Insurance had better get into P&C to survive.
I don’t know one small business personally that is planning on dropping their coverage. The small business that I know of are afraid of losing good employees to the competition for lack of a health benefit. But the “Chicken Little” of the US (aka Fox and The Right) believe this is the end of the world as we know it. Get used to the message, it’s as common as a penny from Agent, Sgt Major, and CT Agent. That’s all right, eventually they will see it’s not the End of Days as they pretend it is now.
Planet, you must live in a small cocoon separated from reality. You obviously aren’t exposed to the real world. It has been all over the news and internet for some time about the 30-40% of small businesses that will be dropping their Group Health due to Obamacare. I also discount your assumption about small business being afraid of losing good employees to competition. When small businesses are not hiring, where are these “good” employees going to go? I have a Partner who has a son who is very bright, graduated in the spring with a Marketing Degree and lives in the Dallas Metroplex. He has tried valiantly to find a job even at an entry level position and he cannot find one. Small business is sitting on their hands and will not hire until the government changes hands and they are incentivized to do so.
We hire. In fact, insurance and finance sector here is hiring regularly. See the new unemployment numbers today? Things are improving. Keep your chin up, Agent! Have a good weekend, too.
Are you talking about the massaged numbers the Labor Department put out this morning? Did you know Planet that the economy needs to create 250,000 jobs per month to stay up with population growth and new job seekers who graduate from college etc? They said 114,000 jobs were created. Is this the new math we are supposed to accept? Is this the October surprise that Obama can brag about after his abysmal performance in the debate? I think it is highly suspicious that the numbers haven’t changed in 43 months and the month prior to the election, it dips this much. I suspect the sevral hundred thousand dropping out of the workforce has more to do with it.
Holy smokes, this is a first ever since I entered the work force, many moons ago:
(my company) is pleased that we will be keeping 2013 rates for the medical plan the same and adding additional tier categories to better define plan participants. We will be offering five “2013 ___ Annual Benefits” webinars to explain upcoming changes.