bumper sticker
Posted on 05/18/2010 1:09:11 PM PDT by Nachum
Among the first to feel the effects of the nation’s health-care system overhaul are insurance salespeople, whose commissions for selling policies are themselves getting overhauled.
The new law requires that insurers use at least 80% of the premiums to pay for medical care for patients rather than administrative costs and profit-taking. But many companies that sell health insurance to individuals and small businesses maintain a lower “medical loss ratio” because they use more of the premium to cover administrative expenses, including sales commissions.
(Excerpt) Read more at cibgny.com ...
bump to the top
I’d like to see the government even come close to the 80% target, for any spending!
Well said!
I am sure 90 cents of every tax dollar pays for keyboard peckers just moving numbers around and around - and where they stop nobody knows.
btt
Arbitrary stalinism (er, socialism) imposed by bureaucrats always works.
translation: If you sell health policies for a living, the Obama Administration just SLASHED YOUR PAYCHECK!
(congrats on the Historical achievement of going first!)
This is so hilarious.
Sales people, especially top performers, do it for the loot, bonuses and other recognition perks.
I have several friends who sell insurance and I should ask if this fits in with their socialist utopia.
Doesn’t matter how much they sell, they can never overcome government intrusion and will be selling real e..., erh, cars, no, no...copiers, no, not that.... hmmm....
veggie burgers
I can assure you that insurance agency look upon Obamacare with horror.
Actually, it means the destruction of the health insurance agents whole livelyhood. If you want to think in a broad scale, nationwide it represents 10s of thousands (or more) agents' income destroyed. Then, it destroys the jobs of all the support people in these companies in every state including destruction of the underwriters in every state in the union. A small guess-timate would be the loss of near a half a million middle income private sector jobs. Maybe more. Maybe much more.
People who have never taken a dime of public money, their entire lives -thrown to the wolves.
You just call the commission something different. An administrative fee if you will.
“You just call the commission something different. An administrative fee if you will.”
You are mistaking the interests of the insurance companys’ managers with the interests of the captive and free agents/brokers selling those insurance companies’ policies.
THe opposite of what you suggested is actually happeneing, the insurance companies are reclassifying as many administrative expenses as possible as medical expenses.
Health insurance sales are dead, over half the large independent insurance brokerages that specialize in health insurance in the US will have disappeared between the date of signing of ObamaCare and the end of this year.
And their agents unemployed.
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