Read Insider Online
Billionaire’s 9 Market and Economic Predictions for Investors, Advisors
Jeffrey Gundlach looks at 2023
DoubleLine Capital founder and CEO Jeffrey Gundlach said in a webcast touching on his 2023 views that investors tilt their portfolios toward bonds this year. He noted that several key U.S. economic indicators — although not all — point to an imminent recession.
“I’m very excited about 2023,” Gundlach said, adding that 2021 was “hopeless” and “turned into a dumpster fire” for financial markets. Fixed income looks “exciting,” a term he hasn’t used for those assets in 10 years, he said.
Link for nine recommendations from the billionaire investor. Read more from Think Advisor.
INDUSTRY NEWS
Bad medicine: Inflation hitting health care
Medical care prices are up 6.5% from September 2021.
Higher costs for medical care and health insurance may be the next burdensome inflation shoes to drop on the U.S. economy. Health care increases could also extend beyond the present-day inflation wave with higher insurance premiums, drug costs and prolonged labor challenges. Full article.
CAHIP-Orange County’s Sales Symposium
This year’s keynote speaker is author Andrew Hill, shown with world-renowned coach and Hill’s co-author, John Wooden.
Excellent chance to network, catch up on the most recent news, and learn about exhibitors. For more details
COMPLIANCE
sponsored by Word & Brown
Three Healthcare Predictions for 2023: New Realities and Priorities for Health Plans
The health system will enter a new reality with the public health emergency lifted
After several renewals, most expect the COVID-19 public health emergency (PHE) to be lifted in 2023, which has huge implications for health plans and members. Medicaid/CHIP enrollment has grown by 18.2 million since the onset of the pandemic in February 2020. As part of the PHE, states suspended the need to revalidate members’ eligibility for Medicaid. Kaiser Family Foundation estimates between 5 million and 14 million people will lose Medicaid coverage once the PHE ends. KFF: Full article.
MEDICARE
Sponsored by Applied General Agency Inc.
Role of Marketing in Medicare Choices
How do plans compete for beneficiaries?
More Medicare beneficiaries than ever are enrolled in at least one type of private insurance plan. As of 2022, more than 28 million beneficiaries are in a Medicare Advantage plan, which provide Medicare-covered benefits as well as some additional benefits not included in traditional Medicare. That’s up from about 18 million in 2016. Soaring private plan enrollment has led to a sharp increase in marketing and sales efforts, some misleading and inaccurate.
In this explainer, we explore the rules governing how insurers sell their plans, what we know about how marketing and sales tactics impact beneficiaries, and what efforts are being made to ensure beneficiaries get useful, accurate information to help them choose the right plan. Full Article from the Commonwealthfund.org
ANNUITIES
Sponsored by TWH
What to know about Fixed Index Annuities
Provide safe growth and lifetime income for your clients
Tax-deferred growth without market risk, with options for lifetime income. For current details and index annuity specifics, Read more
12 Life and Annuity Changes in $1.7T Spending Bill
Life insurance and annuity provisions in the Consolidated Appropriations Act, 2023 — the 4,155-page, $1.7 trillion spending bill now flying through Congress — could shape clients’ saving and investment decisions for decades to come.
The core of the bill consists of provisions needed to fund the operations of the federal government, but Division T is the text of the Setting Every Community Up for Retirement Enhancement (Secure 2.0) Act, a 358-page package of retirement and general financial security provisions. Some could improve the ability of annuities to provide a guaranteed source of income for retirees’ entire lives.
Division AA, another part of the bill, would affect the fate of a hot, relatively new type of annuity. Full article from ThinkAdvisor.com here.
EXIT PLANNING
sponsored by Commission Solutions
Moving from Active to planning to Retire
Selling the Future
What’s your agency’s potential when you sell
By Hiren Parmar
A buyer’s initial question will always be what exactly they are buying? The valuation of an agency will often be based on the agency’s ability to generate cash in the future. The use of a forecast is critical in communicating to the buyer what they are buying. An agency’s owner who can articulate a well thought out forecast to a potential buyer can ultimately sell for much more than those that cannot. Read more.
MENTAL HEALTH
How Awe Brings Us Together
Feeling awe changes your brain. In our first episode in a series about the science of awe, we explore how awe can make you a better friend, partner, and community member. Science of Happiness Podcast here.
BROKER RESOURCES
Well-designed, Engaging Employee Benefit Communications Can Generate Positive Returns on Investment, Says New Report from Westcomm
According to a recent survey, one third of U.S. adults do not fully understand their health benefits and 66% of employees wish they were more informed about their benefits. But the Benefit Communications Report: New Insights into What Works! by Westcomm suggests that organizations with robust benefit communication programs can maximize their benefit program investments and help employees improve health while saving money. Read Article
2023 INDUSTRY CALENDAR
WEBINARS
- Jan. 19, 10:30-11:30 am GGAHU Federal Legislation Update Webinar with Marcy M. Buckner, SVP, Government Affairs, NABIP (formerly NAHU). Register.
- Jan. 26, 2023 11 am PST, FMG sponsored webcast “Improve (or kick start) Your Lead Generation Efforts in 2023.” Complimentary registration here.
- Feb. 9, 8:00 am PST, OCAHU Annual Sales Symposium, Spring Field Banquet Center – Fullerton. Keynote speaker, Andy Hill, motivational speaker, former president of CBS Productions, and author of the book “Be Quick – But Don’t Hurry: Finding Success in the Teachings of a Lifetime.” More info.
- Feb. 23, 11:30–1:30 pm PST by Zoom, 70th Annual Will G. Farrell Award & Leadership Recognition Event, sponsored by NAIFA-LA and FSP. Info: janet@wifs-losangeles.org
- March 4, 9:00-1:30 pm PST, by zoom: WIFS-LA Women’s Forum “Embrace Empowerment.” Info: janet@wifs-losangeles.org
CONFERENCES
- March 13-15, Ellevate Women’s Leadership 2023 Summit, JW Marriott just outside Las Vegas. Register.
PRINT FEATURE
sponsored by Word & Brown
Small Businesses are California’s Economic Engine
Opportunity for brokers continues to grow
What do brokers need to know about Small Business in California?
