Thursday, January 5, 2012

Health Care Reform Bomb

I ran across this little image while surfing today.  I think it sums up our dilemma over the Obamacare debacle quite nicely.  While I'm not 100% for or against the law, the way it has been implemented has never felt all warm and cozy.  There are many provisions in the law that I like; under 26 can stay on parents plans, the idea of no pre-existing conditions, and allowing states to offer competing companies.  However, if you allow a federal mandate to purchase insurance, then people run for the hills.

There has to be some sort of tort reform so that doctors can manage costs without fear of malpractice lawsuits IMO.  Or you could regulate what doctors and hospitals can charge without increase and then the cost of insurance would steady.

Is the ruling going to blow back in the face the administration?  Many think it will.

Monday, January 2, 2012

The Insurance Business in 2011 vs 2012

Last year was freaking amazing.  I never thought that I'd do as well as I did.  My goals were met and I actually learned something too.  On New Year's Eve I found myself wondering, what will 2012 bring.  I am optimistic about my role as an insurance producer, but insurance as a whole will probably see some bumps along the way.

I often tell folks when they ask what I do that insurance is not the most exciting thing in the world, but it's necessary.  The conversation often turns to politics and I try not to upset their political feelings but I really enjoy building this business though.  I enjoy meeting with and talking with people to find the best suitable coverage.  It's a great challenge at times but when I find it, and get a, "Thank you so much", it feels good.  I feel like I really helped someone.  Everyone wants the best for the least and my role is to find it.  

While personally I did well, the Health Insurance industry is kinda in limbo.  Everyone is waiting to see what will happen with Obamacare with a Supreme Court ruling this year.  I am not really sure what to expect here.  Obamacare has allowed for kids under 26 to stay on their parents plan which is good.  We've actually seen an increase in uninsured policy since the passing of this law.  Certain aspects haven't taken effect yet like allowing pre-existing conditions on all policies.  This is still up in the air too with the ruling from the Supreme Court.  To me it seems like this legislation is trying to gain on the insurance agencies profits.  So while the law is making it easier for people to get coverage, we as agents might be losing in the long run and this is why I'm split on this issue.

My group business grew too.  When I say group I mean installing a coverage plan to business's.  I must say that this area is not as easy as I once thought it was.  There are so many moving parts to providing this service to a business.  A company has only so many options and ways to give coverage to their employees and with costs rising it's tough.  I want to improve this area in 2012 more than any other.  The lessons I've learned last year will serve this well in 2012.

Life insurance is an area I'd like to expand in too.  I didn't kill it this year with these policies yet there seems to be room to grow.  I've seen many studies on this and from what I've experienced, people are not that interested in talking about dying.  People need it though, and I need to find a way to access those who do want it.

I do expect my business to double again.  It did last year so why not this year.  That's my goal.  If there was one sentence to describe this business I'd have to say "The short term it looks bright".  I don't know how it will all play out but I hope for the best.