Healthcare for Realtors in plain English from NAR

NAR has released a straightforward explanation of the recently-signed healthcare reform law for agents and brokers.

Some of the highlights:

Expanded Markets
Third, the law seeks to expand the individual and small-business insurance markets, which are the markets through which real estate brokers and sales associates principally shop for coverage.

The goal is to increase access to affordable coverage by increasing competition among insurers by expanding the pools of insureds, encouraging them to enter new markets, and by allowing the markets to cross state lines. The eventual goal is to merge the individual and small group markets into one larger market. In any case, as an independent contractor, you’ll be able to shop for coverage in both the individual and the small-business markets, so your options are expanded.

Exchanges
Fourth, the law creates the insurance exchanges that received so much attention in the media. These are in effect the new insurance marketplaces through which individuals and small employers shop for coverage. Because insurance ratings and underwriting standards are made more uniform, shopping for coverage through the exchange’s online services or through an insurance broker is simplified, at least in theory, because comparison between plans is made easier.

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One Response to Healthcare for Realtors in plain English from NAR

  1. Bob Jurgensen says:

    Health care reform simply did not go far enough – after it was watered down by the lobbyists for the insurance industry. 2014 is when it really begins… More than enough time for the insurance industry to jack their rates up so that when we finally (four more years?!?!?) get some level of control over this industry, it will be too late. Ever wonder why gasoline prices soar to $4+/gallon then retreat to $2.75 and stick at that price? Because after paying $4/gal, $2.75 looks pretty darn good – less we forget that just a few short years ago we were paying about $1.50/gal.

    It’s all like a “shell game” – if you move around those shells enough, everyone gets confused. That IS the goal of the insurance industry – to keep us confused while they play mind games and steal our money – to pay out those big bonuses to their CEO’s and upper management.

    Congress completely missed the mark with health care – and needs to fix this now. Waiting for four years is simply unacceptable to those of us paying $1700/mo for $5,000 deductible coverage, while group plans offered to say (one example) bank loan officers (W-2) are less than $400/mo for family coverage. Something is wrong when the disparity is that great – I pay four times as much for less. It’s insane.

    NAR is the largest trade organization in the world. 1.3M members – that is some real bargaining power once the exchanges arrive in 2014. But, I fear, by then the rates will have soared through the roof with little oversight. Ironically, when we pay our dues, we are paying for staff’s health insurance benefits locally, state and nationally – yet WE, the 10-99 Realtors, cannot even buy group health and if we have health problems, you can all but forget buying insurance at any level of reasonable pricing. Perhaps I should go to work for NAR.

    Get busy NAR – and lobby Congress to move these dates up for pre-existing exclusions as well as the exchanges and group plans across state lines… 2014 is simply too long a wait and gives the insurance companies the upper hand they have enjoyed forever. It’s time to level that field – once and for all.

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