• John McTighe-Life & Health Insurance Expert

My weekly insurance business review Nov 2nd-Nov 15th 2020

The results are in!!! It was a good week, actually (2) weeks since my last post. I skipped a week since I had a bunch of case work to catch up on, and even though the election had many people captivated, I had to continue onward helping people with Medicare and life insurance plans.

I am formulating an idea to continue operating a booth, or kiosk at a complimentary retail location after AEP is over.

The idea will be to offer a help desk in regards to health insurance, Medicare, state Medicaid help, and life insurance. I have not yet secured a location however I have some prospects in mind. My current booth at the San Tan Valley Wal-Mart Super Center has been a success.

Election thoughts

At the time of this writing (November 15th) the media has declared Joe Biden the president, while Donald Trump continues to fight for votes in several swing states.

No matter the outcome, here are my thoughts, in regard to the insurance business and how it might affect things in the future. This is MY opinion only.

  1. I believe that it is more than a 75% chance Biden is going to be our next president.

  2. In terms of the insurance industry, the issue of health insurance and healthcare will be a bigger issue. How the Affordable Care Act will continue and move forward is anyone's guess. With Joe Biden as president, we can assume he is going to carry on and expand or improve the ACA in some way, perhaps finding a way to expand choices beyond the existing carriers.

  3. How aggressive will Joe Biden be, in terms of implementing anything new? Probably not much is going to happen quickly, in terms of action, and I have not really heard of any action steps at this early stage.

  4. The argument for "Medicare For All" was discussed, however not much beyond that idea has been talked about, we will have to stay tuned.

  5. COVID-19 is going to radically change life insurance and some health insurance policy underwriting, and this has already started happening with some carriers asking more specific questions about COVID-19 on their applications.

  6. Another national lockdown could throw all of these opinions out the window, if that were to take place between now and the new year (2021).

Those are my thoughts for the week, have a great week and we will see you next time!