Navigation Links
Insurance Brokers Express Worries About Compensation Rates for Exchange-Based Sales in Latest Issue of AIS's Health Plan Week
Date:8/28/2013

Washington, DC (PRWEB) August 28, 2013

Six weeks before open enrollment begins for public exchanges, health insurance agents and brokers say they still do not have vital information on coverage options, premiums and commission payments, or even if commissions will exist in 2014. The Aug. 26 issue of Atlantic Information Services, Inc.’s (AIS) Health Plan Week features a case study on the Georgia insurance market, where two long-time agents worry about the impact this lack of information, and the potentially reduced compensation rates, will have on business models.

The Affordable Care Act (ACA) does not mandate that brokers be paid a commission for selling insurance, but does stipulate that any commission paid by a carrier be equal for products sold inside and outside of the exchanges. Rick Bailey, president of brokerage Rick Bailey & Company, Inc., based in Woodstock, Ga., says historically insurers have paid between 10% and 12% for first-year commissions in the individual market on a percentage-of-premium method. Commissions generated by renewals are all over the map, but run around 5% to 8%, he says.

But for 2014, the numbers being discussed in broker circles are much lower. “I’ve heard first year will be down to 5% and as low as 2% to 3%,” Bailey says. Insurers have been cutting commissions in order to comply with the health reform law-mandated medical loss ratio requirements that went into effect in January 2011. The ACA requires insurers to spend at least 80% of individual and small-group premiums and 85% of large-group premiums on medical costs or quality improvement activities, with the excess refunded to members. Agents and brokers are directly impacted since their commissions fall into the 15% to 20% of premium revenue insurers can spend on administrative expenses.

A second market veteran, Russ Childers, an insurance agent based in Americus, Ga., and former president of the Georgia Association
'/>"/>

Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Page: 1 2 3

Related medicine news :

1. Health First and Florida Hospital Healthcare System Partner to Offer Health Insurance Products
2. Long Term Care Insurance Buyer’s Age Drops Dramatically
3. SunshineBloggers Urges Readers to Consider Term Life Insurance
4. Homeowners Hail Damage Sends Many Scurrying For Insurance Coverage
5. Zane Benefits Publishes New Information on Utah Health Insurance Exchange Rates
6. Frequent Denver Wildfires Endanger Residents, Local Agency JJ Insurance Offers Wildfire Protection and Safety Information
7. Tolman and Wiker Insurance Services, LLC Sponsors ACT Today!’s 8th Annual Denim & Diamonds for Autism
8. Zane Benefits Publishes New Information on Florida Health Insurance Exchange Rates
9. Zane Benefits Publishes New Information on Maryland Health Insurance Exchange Rates
10. The Future of Life Insurance, EQUOTE.com Provides Great Rates Without Intrusive Medical Exams
11. Term Life Insurance With No Medical Exam Now Available Online from EQUOTE.com
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/18/2014)... 18, 2014) ― A new study in the ... in health-related Google searches reveals a recurring pattern that ... , Investigators from San Diego State University, the ... Campaigns, analyzed "healthy" Google searches (searches that included the ... originating in the U.S. from 2005 to 2012. They ...
(Date:4/17/2014)... first genetic variant specifically associated with the risk ... 10-15 per cent of all breast cancer cases. ... cancer sub-type, called invasive lobular carcinoma, gives researchers ... particular kind of breast cancer, which can be ... (Thursday) in the journal PloS Genetics , ...
(Date:4/17/2014)... the University of California, San Diego School of Medicine ... have suffered a recent major loss are more likely ... , The study is published in this month,s issue ... , Because compassionate behaviors are associated with better health ... insights into ways to improve the outcomes of individuals ...
(Date:4/17/2014)... personnel who served in Iraq and Afghanistan and ... (TBI) were compared to military personnel without TBI ... in measures of overall disability, cognitive function, post-traumatic ... reported in an article in Journal of ... Liebert, Inc., publishers. The article is available free ...
(Date:4/17/2014)... By discovering a new mechanism that allows blood to ... UC Irvine and the Salk Institute have opened the ... stroke-induced brain damage. , A complex and devastating neurological ... primary reason for disability in the U.S. The blood-brain ... blood-borne material into the brain, causing the permanent deficits ...
Breaking Medicine News(10 mins):Health News:New research shows people are thinking about their health early in the week 2Health News:First genetic link discovered to difficult-to-diagnose breast cancer sub-type 2Health News:First genetic link discovered to difficult-to-diagnose breast cancer sub-type 3Health News:The ilk of human kindness 2Health News:Long-term effects of battle-related 'blast plus impact' concussive TBI in US military 2Health News:Study IDs new cause of brain bleeding immediately after stroke 2
... Deleting PTEN in mice led to premature ovarian failure, ... Scientists think they have discovered a mechanism that prompts ... in women. , PTEN -- a gene that,s known ... eggs in the ovary from ripening too quickly. When ...
... (NYSE: HMN ) will release its fourth quarter ... closes. The,earnings press release will be available shortly thereafter ... http://www.horacemann.com .,Management will host a conference call to ... 10:00 a.m. ET., The call will be simulcast ...
... to turn genes off in human T cells, a type ... infections. , Turning off genes, through a process known as ... after fighting infection. This research could lead to development ... patients with autoimmune diseases such as rheumatoid arthritis and ...
... National opinion leaders will,convene in Arlington, Virginia, March ... applications, and strategies for the treatment of,common malignancies. ... highly interactive., The Summit will provide 13.75 ... Dannemiller Educational Foundation, and the content is being,developed ...
... Australian-based,natural health care products company that markets a range ... nature identical ingredients,announced today that its Quit Nits head ... United States through a distribution agreement with,CVS Pharmacies., ... agreement was the,result of two years of hard work ...
... stomach fluindicate the highly contagious, fast-moving virus is again ... Infection Control and Epidemiology (APIC) has six simple steps ... the second most frequent cause of illness after the ... pain, and occur between 24 and 48 hours after ...
Cached Medicine News:Health News:Study Spots Gene That Plays Role in Infertility 2Health News:Horace Mann Announces Fourth Quarter Earnings Release and Conference Call 2Health News:U of M researchers discover a pathway to turn off immune system cells 2Health News:Dannemiller Memorial Education Foundation and GR MedEd, Inc. Announce Oncology Summit: From Discovery to Delivery 2Health News:Dannemiller Memorial Education Foundation and GR MedEd, Inc. Announce Oncology Summit: From Discovery to Delivery 3Health News:Wild Child's 'Quit Nits' Offers a Safe, Natural Alternative to Current Toxic Head Lice Products 2Health News:Wild Child's 'Quit Nits' Offers a Safe, Natural Alternative to Current Toxic Head Lice Products 3Health News:6 simple steps to protect against and stop the spread of noroviruses 2
(Date:1/15/2014)... , Jan. 15, 2014  Research and Markets ( http://www.researchandmarkets.com/research/6k27gw/dental ... Consumables Market - Global Industry Analysis, Size, Share, Growth, ... their offering. (Logo: http://photos.prnewswire.com/prnh/20130307/600769 ... are used on patients in order to treat dental ...
(Date:1/15/2014)... 2014 Massachusetts General Hospital (MGH), the Broad ... announced today that they have launched a strategic ... targets and develop novel therapies for inflammatory bowel ... worldwide. The MGH-Broad-Amgen collaboration brings together scientists with ...
(Date:1/15/2014)... an unprecedented effort to curb the spread of "superbugs" such as ... an advanced and portable UV germicidal lamp manufactured by MRSA-UV is ... In order to prevent EMS paramedics and transport patients ... Palm Beach Fire Rescue is the first in the ...
Breaking Medicine Technology:Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 2Dental Consumables Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2018 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 2Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 3Mass. General, Broad Institute and Amgen Will Work to Discover New Drugs for Inflammatory Bowel Disease 4Superbugs No Longer Ride In Rescue Vehicles 2
... Inc. (NYSE Amex: ANX ) today announced that ... at the 10th Annual BIOInvestor Forum Conference on Wednesday, October ... Cliff Salon at the Palace Hotel in San Francisco. ... and slide presentation on the ADVENTRX Pharmaceuticals web site at ...
... Innocoll, Inc. announced it has entered into a ... for CollaGUARD surgical adhesion barrier for the prevention of ... Dr. Michael Myers, President and CEO stated "This ... an increasingly important and dynamic market for medical products ...
Cached Medicine Technology:Innocoll Enters Partnership With Pioneer Pharma in China for the Distribution of CollaGUARD 2Innocoll Enters Partnership With Pioneer Pharma in China for the Distribution of CollaGUARD 3
... intra-operative MR system is ... tool for radiologists and ... of the system is ... adjunct to standard neurosurgical ...
... Adhesive (Bioglue) is a two-component surgical ... albumin (BSA) and glutaraldehyde. The BSA ... bovine spongiform encephalopathy (BSE) free countries ... inactivates viruses. The solutions are dispensed ...
Avitene Microfibrillar Collagen Hemostat (MCH) is used in surgical procedures as an adjunct to hemostasis when control of bleeding by ligature or conventional procedures is ineffective or impractical...
... Prodisc design is based upon the ... natural spinal motion segment unit. Kinematics ... integrates the biomechanical and anatomical aspects ... concept: Three implant components utilizing proven ...
Medicine Products: