Selling Health Insurance in 2012

So far there has been some interesting developments in selling health insurance post health care reform. Here are some pros and cons in selling insurance right now and in the future.


Pros


1. Because of the requirements of the Health Care Reform Law the rates for health insurance have gone up dramatically the last 6 months. We might have gotten a commission cut but we are making a smaller percentage of a larger premium.
2. Insurance companies can't cancel our clients' insurance anymore.
3. If insurance companies go over 10% of a rate increase they have to report that information to the Health and Human Services department.
4. Clients like the preventative on their plans quite a bit and the healthy clients that never go to the doctor finally feel like their getting something for their money especially on higher deductible plans like HSA's.
5. 80% of health insurance agents quit so that leaves a bigger market for those that are really good at selling.
6. Software companies like Norvax have quoting software in place that allows you the opportunity to quote life, dental, health, critical illness, and accident policies in the same quote. Now I am averaging 38% commission because we are selling multiple products at the same time.

Cons

1. We don't really have any money as a country to fund the Health Care Reform Law so the whole thing might go belly up. As long as we have ink to print paper money then they'll still probably have money in the system to fund health care reform.
2. It doesn't seem like Republicans are really putting forth a lot of effort to repeal the law. They've had plenty of time to do so which makes me wonder.....Are Republicans really against it?
3. If you're not highly engaged in selling and coachable you probably won't make much money selling health insurance. This is because there aren't a lot of new agents selling health insurance. They all got scared off so you're really playing with the big boys. That's ok because hopefully the content of this blog will help even the playing field. I have top agents across the country that are always looking at this blog for tips on how to become better.