Well, Tuesday night was fun to watch as long as your candidates won. It was interesting to see how the coverage was handled by different networks. I happened to watch FOX and CNN and kept switching back and forth between the two. If you have never done that, you should. Each network definitely had its bias. On FOX, the election was turning out way better than predicted and on CNN; the republicans had to be disappointed that they didn’t have better results. Almost comical on how each reported the same information. So, now the fun begins and what does it mean to our industry?
The first thing I would say is that health care reform law is not going to be repealed, at least not till after 2012. On the other hand, with new control of the house, many changes may be proposed and funding could be lessened. But I would encourage you to get more involved at the state level with how things will be implemented. I personally am concerned that we will see things implemented before they are completely thought out. If that happens, then it will be very difficult to change them back. It is better to do things right the first time then to have to repair them after the fact. One of the biggest factors that have to be considered now, simply because of timing, is exchanges. Since it will take time and resources to build these exchanges, the states will need to be working on them over the next two years. If they are done without real world input, they will destroy private insurance and the professionals who currently provide guidance to the public. It is paramount that you get involved and understand what is being done with exchanges. Is there any reason that professional advisors shouldn’t be allowed to work with the public inside an exchange? Why should the public be harmed with not being able to get sound advice because they decide to use the exchange or if they are entitled to subsidies, why are they not able to have professionals assist? Seems that the intent is to hurt these individuals by making them choose something they have no knowledge of.
Step up and get involved. If you are not in a professional organization such as National Association of Health Underwriters or National Association of Insurance and Financial Advisors, become a member. Volunteer to assist your state legislators with health care and health insurance issues. Talk to your clients, family, friends and anyone who has questions and be knowledgeable about the future of health care reform. Now is the time to become the resource for the public. The people have voted and now it is up to you to assist the lawmakers in making good sound decisions that affect your ways of life.