Wednesday, March 01, 2017

Show us the money

As we've previously noted, "off-Season" Special Enrollment Periods are fraught with challenges and contradictions. Perhaps the most egregious is the fact that no one in government seems to care about the massive fraud being perpetrated right under their noses during this time.

I speak, of course, of this:

"To Our Valued Broker Partners ... we have decided we will no longer pay SEP commissions effective 04/01/2017."

This from John Molina, CFO of Molina Health Care. Conspicuously missing (as usual) is the statement that policyowner's rates will be decreased to reflect the fact that agents aren't being paid. That's because they're keeping this extra cash for themselves, with zero legal justification for doing so. Carriers' cost of doing business is directly and positively affected, and yet they don't have the corporate decency to acknowledge their greed.

To be fair, neither do any of the other carriers benefiting from this unethical sleight-of-hand, so there's that.

Would be nice if our legislators (and DOI bureauweenies) actually did something about this.

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