Thursday, May 27, 2010

Aetna Disclosure

Aetna requires their Health Insurance "Brokers" to provide "advance disclosure of the nature of compensation programs to customers".

Since I'm not sure exactly what this means, I'll tell you what I know.
Sorry that we're required to waste your time with all of this extra info.
But, maybe you'll find it interesting.
I've added some "flavor" to the dull facts.

I think this requirement was added because of lawsuits in the industry.
But, maybe it's got something to do with a "remote"  or "vague" law.
After all, we only have trillions of vague laws, rules, regulations and guidelines to keep up with these days.
I sure do miss the good old days when life was simple and everyone lived by the Golden Rule and greed was something our parents taught us to avoid (and spanked us for)!
- Keep it simple
- Do unto others as you'd have them do unto you
- Your word is your bond
- Seal it with a handshake
- Spare the rod and spoil the child
....THOSE good, old days (if you're old enough to remember them)
.....Progress has produced a bunch of spoiled, rotten, lazy and greedy brats in our world
.....And a bunch of new "rights"...and constant new laws to protect and pass out those new "rights"

I am an Independent Health Insurance Agent (a Broker).
I am not an Aetna employee.
Actually, I work for YOU.
I receive 1099 commissions from Aetna, as well as all of the other insurance companies.
These commissions vary and are based upon sales, volume, formulas and other factors.
They become "service" commissions after the first year, which are lower than "sales" commissions (payments for making sales).

From time-to-time Aetna offers:
- Production Bonuses
- Trips to exotic places
- Other incentive rewards and programs like discounted advertising (which I've never used).  Word-of-mouth remains the BEST ad in town (to me).

I've never taken the exotic trips offered by insurance companies!
I REFUSE to WASTE YOUR money like this!!!
(Reminds me of DC....and their greedy, wasteful practices...which I abhor...and consider a form of theft!)

I usually ignore the Bonus Schemes.
I'd NEVER sell someone a product (that they don't need) (that's not right for them) just to make a "bonus".
One large insurance company (not Aetna) even offered a $10,000 bonus to agents for 25 sales in one month!
To me, this is "robbery"....and "greed" at it's finest.
Your insurance premiums should NOT be wasted in this manner!!!!!!!!
They could have lowered EACH applicant's premium by $400!
What would have produced MORE sales???
...Lower premiums or a greedy agent pushing plans that aren't right for the client?
Just winning friends and influencing people here.
I may wish I'd never published this on the internet.
But, if the truth hurts, so be it.

When they call me about their Bonus Schemes, I love to tell them:
"Just lower your premiums (with those $10,000 bills you have in your hand) and see how much MORE business you'll get."
But, some of them just don't get it.
They think that agent bonuses work and lower premiums don't???????
Go figure?

Some companies offer "advances".
I don't think that Aetna offers advances.
I don't take any advances, anyway.
I was fortunate to enroll several huge businesses when I first became an Independent Health Insurance Agent (back in the 1980's).
That got me "started" without needing "advances" from any company.
"Owe no man anything.".....That's what Mama always said.

If I help others, I'm rewarded.
So, that's my philosophy.
Just help others buy what's RIGHT for them...
...and we'll all be happy.

I think it was Napoleon Hill who coined the phrase:
"Find a need and fill it" his "secrets of success" book "Think and Grow Rich".
I haven't grown rich, but all of my needs (and wants) have been supplied.
And, I've helped many others along the way.
That's a rich life, to me.

And, I've avoided that horrible thing called pressure to:
- Sell more!
- Sell this junk plan!
- Sell them extra stuff!
- Close that sale!
- Work that lead till they hang up on you!
- Use more closing techniques!
- Make us more money!
What a blessed life!
I've simply been blessed to BE a blessing to others!

Some companies pay MORE for selling certain plans.
I don't think that Aetna does this.
Actually, I don't keep up with how much I'll get paid to sell a certain plan (or a certain company's products).
My contracts with EACH company are different.
And, their compensation packages can be quite complicated.
I don't ask for special compensation packages.
And, I don't promise "production" volume to ANY company!
I just recommend what's RIGHT for YOU!

I'm SO glad that I don't "report" to a Sales Manager.
Sales Managers expect "sales" and "volume" and "closing techniques".
I'm free to just "Help Folks".
What a blessing!!!
I can wake up every morning and thank my Father for the privilege of helping others (and make a living at the same time).

Don't remember who said this one:
"Do something you love for a living and you'll never have to work a day in your life."
Can't say that I "love" EVERYTHING about insurance!
But, I CAN say that I love to just pick up the phone (as it rings) and help others to solve their insurance needs with no one standing over my shoulder expecting more "production".

Aetna's Brokers don't get paid any more than a regular Health Insurance Agent.  Aetna just calls us Brokers.  Other companies call us Agents.  (Same animal.)

I hope I've covered it all (about compensation programs).
And, provided you with a little background trivia along the way, too...
...if you've actually read all of this chatter.
I've probably covered WAY too much...and opened hornet's nests along the way.

By the way, I do NOT disclose YOUR private information to other parties.
I can (and sometimes do) discuss your private information with Aetna...IF you apply for an Aetna policy AND there is a valid need to discuss the info.
This is something else that I'm suppose to "disclose" to you.
It's common sense (to me)....and using up space to say....but it's "said".

Aetna link to
- Apply Online
- View Benefits
- Find Doctors and Hospitals IN the PPO network
- Get additional Aetna plan quotes
- Compare Aetna plan benefits
....Remember to UN-check the "Dental" box
..........or Aetna's rates will INCLUDE Dental Insurance

Home page to:
- Get more quotes
- Compare plan benefits online
....Instant Online Quotes (Green bar at top of screen)
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