IM ONLINE NOW!

 Join me @ IBOtoolbox for free.
Eric Wilson
Member Since: 2/7/2018
  
performance / stats
Country: United States
Likes Received: 117
Featured Member: 0 times
Associates: 274
Wall Posts: 279
Comments Made: 125
Press Releases: 224
Videos: 39
Phone: (815) 372-1363
Skype:    
profile visitor stats
TODAY: 17
THIS MONTH: 1244
TOTAL: 50100
are we ibo associates?
active associates
Laci Kollar    
Last logged on: 11/21/2018


Clive Martin    
Last logged on: 11/21/2018


Whitney Jacqueline        
Last logged on: 11/21/2018


Arlene Dovichi     
Last logged on: 11/21/2018


Michael Gielfeldt     
Last logged on: 11/21/2018


Lonnie E. Shipe, M.A.    
Last logged on: 11/21/2018


Larry Potter    
Last logged on: 11/21/2018


nadda nadda     
Last logged on: 11/21/2018


Chauncey Penfold    
Last logged on: 11/21/2018


Charles Aki    
Last logged on: 11/21/2018


Bethany Burleson    
Last logged on: 11/21/2018


Kristijan Spariosu    
Last logged on: 11/21/2018


Todd Treharne    
Last logged on: 11/21/2018


John Kespert    
Last logged on: 11/21/2018


Dennis Thorgesen    
Last logged on: 11/21/2018


other ibo platforms
Eric Wilson   My Press Releases

WHAT DO WE DO NOW??

Published on 9/13/2018
For additional information  Click Here

In the wake of Health Care Reform, We, as Health Insurance Producers, find ourselves in an interesting place. Insurers, no longer know how to compensate us. Due to the medical loss ratio standards that go into effect on January 1, 2011, we are all in limbo.

Let me explain, as a producer, I get paid a monthly fee for service for every policy I write and is excepted by the policy holder. Now I get this amount every month for one year. Here is where it gets interesting. Most insurance carriers cannot meet the requirement beginning January 1, without adjusting “commissions”.

As a Self-Employed business owner, I have to run my life and my business based upon what is coming in. If I know I am going to make say $20 per month on a policy for a year I know how many I need to sell each month. EXCEPT NOW, that $20 I get now, might be $9 come January 1. Take that times maybe 100. On these simple numbers it is a DECREASE in compensation of about $1100 per month.

Most of us would not go to work not knowing how much we get paid. But that is what the United States of America, Our CAPITALIST system, and our industry has to go to work for the next 5 months and not know how much we are getting paid.

The insurance carriers have said they will let us know on December 1, 2010. Now if it was on policies going forward from Januray 1 on, I could live with that. And for that matter, I guess I have to live with it anyway.

As producers, we are faced with a serious question… WHAT DO WE DO NOW???

We can go on as business as usual and HOPE, everything stays the same. We can not spend as much time with our existing clients and not give them the service they deserve, so we can find say 60% more clients next year to offset the pay decrease.

We can add more lines of insurance. Again, this takes time away from our existing clients, but maybe we can help the existing clients in another way.

Many have already left the business, creating some additional opportunities.

WHAT would you do??

Could this happen to your industry?? The Government has taken over the Auto Industry, and just passed a Financail Reform bill. What is next??

Could you be next??

Somethings to think about.

Thanks for reading…

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.