Well the latest from CMS seems to indicate that for all of the changes that were to come from the Affordable Care Act, at least for the beginning of 2014, things will remain much as they are today. Broker placed business in the individual marketplace looks to continue as it is now. The ability for systems to interface as originally planned just isn’t going to be available until later. Of course, there is no determination as to the meaning of later. This is great news to the brokerage community as I see it. You will use the carrier (or if you are an OCI member – our rater) and place the business like you do today. The carrier will provide the additional link to determine the availability of a subsidy for the client. So in some ways, the broker will do business much like they do today with the advantage of having additional dollars for their client to use to purchase the coverage. Obviously, that money the client may be ENTITLED to is, just that, another ENTITLEMENT but for our industry, it is like having an employer pay some of the premium. For brokers, this is great news as it means they can continue to do business in the individual marketplace much like they do today. In addition, a savvy broker may look to opportunities in markets that they have neglected in the past as these individuals will have access to dollars to pay for health insurance. These underserved communities will provide a tremendous opportunity to the individual who seizes the moment. In addition, the professional broker will be able to protect these individuals with other necessary products such as life, disability, accident, CCP, or Critical illness. Take a moment and consider how you could enter these communities.
What is changing is the broker. Innovation, creativity, and hard work will be the success factor in the coming years. OCI is committed to assisting our partners with additional products and services such as Payroll, HR, and employee benefits that are brand new and exciting. We are selecting our loyal partners and will be rolling out these opportunities based on strength of relationship. Do you want to be ahead of the herd mentality? Join the elite and become an OCI premier partner.