From the standpoint of Independent agents having a strong future in the Individual Health market, the concept of the Health Insurance Exchange is probably the most critical. It is absolutely essential that Individual Agents be allowed to participate within the Exchange to provide their knowledge, expertise and recommendations to consumers who will be shopping through a multitude of carriers and options.
The Hill reported that Lawmakers have met with ehealth. Here is the story from The Hill.
As a broker that specializes in individual health insurance I’ve been paying very close attention to this health care reform. I believe that a bill with pass that will include the following.
1. No medical underwriting for individuals/families
2. All Americans will be required to have a plan. (medicare,medicaid,low income subsidy,employer based or individual must purchase on own.
3. Tax credits for small businesses that provide health care for employees
4. A public option trigger only. Similar to what the Govt did with part d. If the insurance companies dont comply then the public option will go into effect.
5. health exchanges for individuals/families self employed to purchase health care. (we have this already just go to google or yahoo)
What does this all mean?
My biggest fear is that the insurance companies will cut commissions because all plans will now become “Guarantee Issue ” or that the insurance companies will dictate which plans are commissionable and which are not. NJ already has guarantee issue and the commissions are pitiful.
Bottom line.. If All Americans are required to have coverage ( Obama agrees with this already), There is a huge potential for growth and you should already be preparing.
Agents and Brokers are desperately needed to help direct consumers into plans that will best suit thier specific health care needs. I speak with hundreds of people evey week who dont have a clue about whats available to them.
Regards,
Joe Copson
Have no fear. When the government gets involved, things get MORE complicated – thus MORE need for agents to sort things out. IMHO, the Obamacare will end up being one big Hill CF with very little changes netting out…
[@RitterIM Craig, wondering if you might be avail to speak with me at a conference on SM & insurance?]
Everything wants to go the way of the internet today. Just today I was in a Von’s Grocery Store and DestinationRX has created a website for Von’s called Vons.destinationrx.com On the phamplet it states: Medicare made easy Apply Online. On the bottom it goes on to say: Remember, with No paperwork and No agents calling you ( of course to bother you) You are In Charge. If you have questions don’t call us because we don’t know. It’s scarry. The agent is becoming a dinosaur. What’s going to be next. No one wants to pay the Agent, yet we have to get educated and licensed and are subject to a vast amount of rules. I wonder about these internet companies????
Is the health exchange killer asteroid on its way to send agents that specialize in healthcare the way of the dinosaurs?
I read somewhere on the internet–I do not recall where–that Obama views agents as an “unnecessary administrative expense.”
Insurance exchanges that do not allow agents access would be a bad thing for agents that specialize in health care. It might be worse than bad, it might be a doomsday event for what I do to earn a living.
Yes we can exterminate insurance agents! Mmm. Mmm. Mmm.