More Fallout From Obamacare, Fewer Insurance Companies and Less Choice

We have to pass the bill so you can find out what is in it – Nancy Pelosi

Principal Financial Quits Writing Health-Care Policies

One of my harshest criticisms of Obamacare was the secretive manner in which it was written. Drafted behind closed doors by congressional staffers and lobbyists, Pelosi, Reid and Obama did not make the bill available for review before passage. The ability to deliver votes or large campaign contributions determined who had input into the bill.

Large insurance companies were one such pressure group, along with trade unions, allowed to influence the actual wording of the legislation. Although large insurance companies are motivated by profit and not the health of their patients, no one can accuse them of stupidity. A simple number these companies surreptitiously managed to slip in the bill will simultaneously guarantee their profits and destroy their competition. The article referenced is the first example of one such deception.

Hidden the 2000 pages of the health care bill is the requirement that 80-85% of health care premiums be spent of patients for actual health care. For those ignorant about the functioning of insurance companies, (Congress, Obama, the national press and the populace), such a number seems quite reasonable. It keeps those greedy insurance companies from taking too much of the money for themselves, and guarantees money for patients. In actuality, this numerical requirement will limit choice, increase costs, and insure the dominance of the legacy insurance companies.

Paying health care claims involved fixed and variable costs. These fixed costs include complex computer and software systems to deal with the arcane medicare rules prescribed by the government. Once these systems are installed, scaling them to larger operations is less expensive. Hence, as insurance companies get larger, their fixed costs become a smaller percentage of overall expenditures, which is common in many industries.

Meeting the 80% ratio is therefore far easier for larger than smaller companies, and will be virtually impossible for new start-up insurance companies. I think the 80% number was not just pulled out of the air, but probably represents the ratio already being spent by Anthem, Aetna, United Health, and the other large companies.

So in one stroke of the pen, large insurance companies have been able to force out smaller companies, eliminate the possibility of new competition and assure themselves of a 15-20% profit margin. I would say Insurance companies campaign donations were money well spent. The outcomes for the rest of us will be fewer choices, little innovation, lack of competition, and further centralization of power in the hands of a few large corporations.

The secretive manner in which Obamacare was written insures more deceptions remain to be discovered. Who knows what other pressure groups and lobbyists have slipped into the bill to protect their interests at the expense of the American people? I will not be surprised, nor am I optimistic.  

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Marketing Insurance and Financial Products on the Internet

Earning an income in insurance or finance takes consistent effort and a desire to succeed. Our world is saturated with various commission generating opportunities, and it can be difficult to wade through all of the available programs. Many of these programs simply do not work or they are heavily dependent on recruiting others to “join”. It is very important that insurance professionals generate cash flow, in a way that is comfortable, credible and cost-effective. Earning the maximum amount of money in the least amount of time is a fundamental principle. Finding a system that is not overly complicated, also makes success much more likely. For these reasons, technology is a way to elevate your insurance practice and further your career.

Because Insurance Marketing revolves around selling intangible products, there is no inventory to maintain and it is usually free to partner with reputable companies. Most carriers provide all the necessary marketing materials for local presentations, which helps save time. Having a small advertising budget to start pay-per-click advertising campaigns for your practice helps, but it is possible to spend nothing but time with respect to building your website.

Every situation is different, so it is advisable to gain access to numerous product offerings. Underwriting is based on age, tobacco, height, weight, health conditions, lifestyle and sometimes the amount of coverage can limit your offerings as well. Having the right product for each situation can increase your ability to satisfy your clients needs, without sending them to the competition.

Most carriers pay out generous commissions and allow applications to be taken electronically, so these solutions are cost-effective to implement. This makes it possible for effective marketers to earn a substantial income on each conversion. Plenty of companies have simplified issue products; which makes it possible to submit applications and receive commissions the same week.

Marketing the product is relatively easy and insurance leads make it simple to gain qualified prospects immediately, so it is possible to start making money right away. Insurance professionals should generate targeted traffic within local markets and drive them to their personal website. It also helps to utilize article marketing, blogging and word of mouth to get the message out about your business.

These are very effective ways to make good money from home or elevate your practice with very little risk. The business tasks are not hard to grasp, and many professionals start bringing in new revenue right away. Partnering with a brokerage that provides “A” rated carriers, technology and systems will empower you to generate a consistent income on the Internet.

Age Can Determine the Car Insurance Rate

Vehicle insurance companies use a lot of factors in which to base the amount of car insurance premium they could charge to a prospective customer. Among these many factors is the age of the car owner or driver. The age of the driver and years of driving experience can either increase or decrease the chances of getting cheap car insurance rate that will be offered.

Teenagers or young drivers who have not yet reached the age of 25 are among the heaviest charged in terms of auto insurance premiums. The reason behind such stiff automobile insurance rate can partly be explained by statistics. Studies have shown many vehicular accidents today involve drivers under the 25 of age. There are a variety of explanations that can be offered as to why this is happening. First, many young drivers involved in vehicular accidents are found to be under the influence of liquor. Second, they could be aggressive in their driving especially among young men. Such driving behavior could often lead to vehicular accidents. Earning a certificate in defensive driving can help young drivers obtain lower auto insurance rates.

Drivers who are already 25 years old and above but not have yet reached the age of 50 are usually charged the standard auto insurance rates depending on other circumstances. In order to lower the rate further, consider taking defensive driving classes and always obey the traffic rules and regulations. A driving record that is devoid of any traffic citations can earn you some discounts on your auto insurance.

Drivers, who are between the ages of 50 and 65, are usually given lower auto insurance rates. Drivers who belong to this age group are entitled to what can be commonly referred to as a senior driver discount. These senior drivers are the most safety conscious as statistics seem to support this view as there are only a few accidents that involves senior drivers in contrast other age groups. If you belong to this age group, ask your insurance company if you have such a discount. If your current provider could not give it then you might be better off going to one that provides senior discounts.

Drivers who are more than 70 years old however, are usually required to pay higher auto insurance premiums. Such drivers can get a defensive driving certificate and drive a generally safe car in order to qualify for lower auto insurance rates.

Cheap Car Insurance Quotes Anyone Can Find

Using an insurance broker on the internet to find cheap car insurance quotes is a great idea, mainly because being able to contrast and compare one deal to another is so fast and easy. There are many car insurance broker type sites that you can find by typing the words “cheap car insurance quotes” into the search engine box of a popular engine like Google or Yahoo.

You will be presented with scores of results that show you where you can go to compare cheap car quotes from various providers. You can also use search query phrases such as “cheap car insurance quotes” or “get cheap car insurance quotes” to find what you want. This search method can work with other types of insurance as well, such as with homeowners insurance quotes.

You can find broker sites that give you cheap car insurance quotes that have been put together by software or you can find ones that will deal with you in person. Either way these sites tend to be very competent and quick when it comes to replying to you with a follow up email.

They realize that business is very competitive and in fact, if you do not receive an email right way then you is probably dealing with an insurance broker that is not very reputable. The best providers of cheap car insurance quotes don’t follow up with any kind of spam or try to sell you something else.

The best providers of free cheap car insurance quotes will make sure that you have all the information that you need within an hour or two or at the very latest by the end of the day. The better ones will give you exact instructions on how to compare cheap car insurance quotes with each others.

Some of them will even help you find the best provider in your area which is why you are sometimes asked for your postal code or zip code. It is not to mail you flyers but rather to find you the right insurance agent or car dealer as fast as possible.

There are sites online that also will offer you five, six and as many as two dozen cheap car insurance quotes within minutes. This kind of service is completely automated and does not cost you anything at all. All they want is basic info from you.

Do not give any site or broker too much information about yourself. When comparing cheap care insurance quotes there is no need to give anyone anything like your social insurance number or credit card number. Being asked for that kind of thing is the sign of a real con artist. No car insuring entity needs that information unless you are actually enrolled in some kind of plan.

Keep in mind that when it comes to cheap car insurance quotes that you get what you pay for. The cheaper your monthly premium is the more your deductible is in the long run and that is not necessarily a good thing. If you do not pay now then you might just end up paying a lot later if you do have some sort of accident.