In a recent post referencing NAIC recognizing the role brokers and agents play in serving consumers, we are pleased to announce early this week NAIC passed the resolution. NAIC has recognized this important role and is establishing standards for the Exchanges so that insurance professionals will continue to be adequately compensated for the services they provide.
View a PDF of the resolution.
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I was new to the business
I was new to the business when AB1672 was passed, Rumors were flying and companies were leaving Calif as fast as they could but in the end it all worked out. I do not see this Reform as helping at all, I believe that the 80/20 issue with the companies will take money out of our pockets, I also question their accounting methods as I have questioned how TREND works, no one seems to be able to give us a understandable answer (transparent?) We will be forced to be work with a navigator, deal with at least two sets of rules...small vs large and a new issue called Employer fines, and I am willing to bet we will be the ones who have to explain that, just like Cobra, HIPPA and whatever else they put on the table. Our jobs will become complicated requiring longer hours and we will be paid less. America wake up all of us are being taken for a ride
The resolution may state that
The resolution may state that it's intent is to protect the consumer, but the way I read it, it's purpose is to protect the agent and broker.
The purpose of the exchange is to make product and pricing transparent enough for the average consumer to understand and make an educated decision as to which insurance plan to purchase.
Value is in the eye of the consumer. If the services you provide added or enhanced value, then consumers and insurers should be willing to pay for them.
The industry would be better off adopting fee for service methods of compensation. Services may include client retention fees, adoption of wellness and preventative care programs, enrollment in smoking cessation, weight loss and exercise plans.
Thanks for letting me add my 2 sense.
Bruce Silver
Employers Rx LLC
The CURE for your employee management headaches
http://employers-Rx.com
I see the "Navigator"
I see the "Navigator" position as another "step" toward the Government and private Ins. companies selling their products DIRECT! with the help of these "navigators"...it is obvious.
I have been a broker for nearly 30 years, I SEE THE WRITING ON THIS WALL! This endorsement from the NAIC is ONLY to keep BROKERS on the hook, continuing to service and bring them new biz, until they no longer need us...I lived through the commission cuts that followed AB1672 back in '95'ish....when the Ins. Co.'s are being threatened with their very existence...(this gov. exchange is designed to put them out of biz!) you can BET YOUR BOTTOM DOLLAR that Brokers will first to go!
The only HOPE we have, to survive, is to work on getting this Health Care bill repealed!
Fellow Brokers - WAKE UP...think about his...and WATCH..see if you don't notice more DIRECT advertising by the Insurance companies...I've already seen it! THEN check out the GOVERNMENT health care info. site!
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