When it comes to insurance professionals, the marketing opportunities are generally seen as always turning out to be positive. Bringing into the insuring public millions of previously uninsured and underinsured younger people may be a good thing. Supplementing health insurance for seniors will be there. We need to work hard at staying in the game and not getting squeezed out by federal competition. All people out there will certainly still need competent financial services professionals, maybe even more than at present.
There are those in professional positions of economics, demographics, medicine, actuarial science, and other disciplines who think that any public option may not drive out the insurers, especially knowing that private enterprise, ingenuity, innovation, increased efficiency, would allow the private sector even to drive out the public option. Look at how the Post Office, Medicare, Medicaid, VA hospitals, Social Security, and other entitlements have worked out. Remember that trillions of unfunded liabilities and where that has put the nation and the American People. As these liabilities keep coming due, they increase the federal budget! This doesn’t sound like great efficiency.
Finally, in considering Medicare advantage Plans 2019, which help can be found at https://www.medicareadvantageplans2019.org there is this prediction regarding earned and renewal compensation. Don’t look for some sudden drop off just because of Reform. This author has found from experience that most people are quite cautious and suspicious of new programs and will tend to retain what they have for just as long as they can, until they gain confidence in such programs, or are forced into them. Even then, many, if not most, will still retain current health insurance coverage in some form to pick up what Reform does not. That was this writer’s great surprise with Harris County here in Texas, when in 1970, the County government replaced an outdated and woefully inadequate set of fringe benefits with full comprehensive coverage. Most all the supplemental coverages that were marketed to large numbers of employees from 1965 to 1970 remained on the books for many years. That is likely to happen in our national future.
Seniors should not worry about choosing the right plan being difficult. There is plenty of information on the Internet with detailed answers to their questions and insurance plans with very competitive rates suitable for any budget. Health planning should be taken seriously and handled with care in order for seniors to make the right decision – medicare advantage plans handle this.