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Everything we know about the lead business from everyone at the Leads360 family. From online lead providers like LowerMyBills.com to Mortgage Lead Management best practices. We'll tell you what we know and what we've learned.  

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Senate Finance Committee on Healthcare Reform: “We need IT help, lots of it.”

The Senate Finance committee recommended that the Federal Government take the lead on healthcare reform by implementing solutions that would not only cut costs but improve care. After recent hearings, the committee recommended that Pay for Performance healthcare, increased transparency and Health IT would do wonders to reign in an industry whose inefficiencies have become increasingly elephantine in recent years. It’s no wonder that better IT service top their recommendations given that such an overhaul would necessarily result in greater transparency. Software solutions are increasingly being adopted throughout the healthcare industry to help providers, insurers, and patients get the best return on their spend. While relations between these three groups can get adversarial at times, everyone would benefit from wasteful inefficiencies being eliminated or reduced.

Make money through enjoyment - the PebbleStorm ethos

Why do you do your job?  Why do you work on projects?  The answer is likely that you work to make money and you work for personal gratification and enjoyment.  If you hated your work 100%, you would chose a different career.  One of the best things about working at Leads360 is that the people here genuinly enjoy their jobs in addition to being well compensated for their work.

Legislators Target Shady Practices of Health Insurers

Assemblyman Hector De La Torre (D-Southgate) has introduced a piece of legislation that aims to curb the most unfair practices engaged in by some insurance companies. Most notably, AB 1945 will force insurers to prove that a pre-existing health condition was diagnosed prior to the policy having been written if they want to cancel the policy based on those grounds. There are more far reaching measures in the bill that would necessitate state review of all policy cancellations. State review would be performed by Department of Managed Health Care or the Department of Insurance and would effectively establish industry standards for application processes, restraining the incentive insurance companies have to clip the benefits of the insured at the time when they are most needed.  The Department of Managed Health Care has investigated claims by patients who had their policies canceled even when health conditions were diagnosed years after the policies were written. Such cancellations are already illegal. Tracking them down and levying fines is not difficult for State Agencies to do, but such measures are often beside the point for families facing health crises where quick, quality health care is critical to recovery. If this bill passes into law, it will be another complication for insurance companies looking to sort through possible customers. As insurance providers and brokers face new customer acquisition hurdles it may become increasingly important for them to optimize their sales and marketing through effective lead management and other software solutions.

In Alabama, insurance fees go up with the needle on the scale

The state of Alabama has announced to its more that 37,000 state employees that it will begin billing them for being overweight. Employees have a year to demonstrate that they are working on slimming down, exercising, eating more healthily.  If they fail to do so, they will be charged a $25 monthly insurance surcharge. Alabama is third in the nation for obesity, and already charges state employees more for insurance if they smoke. The yearlong period they have to prove they are serious about their weight and health is measured by blood pressure and blood glucose levels. Test poorly now; you’ve got a year to straighten it out. Test the same or worse at the end of that year; you pay $25 a month. As medical research continues to uncover the cost of a chronically unhealthy public, employers adapt to cut their costs and shift some responsibility to the insured. Good insurance lead management software can help insurance companies stay on top of the shifting landscape that result from these advances in medical technology and their real world ramifications.

FDIC restructuring many IndyMac Mortgages

After taking control of IndyMac in July and putting a temporary moratorium on foreclosures, the FDIC is attempting to set an industry example for large scale, systematized refinancing for troubled borrowers. Motivated by the fact that foreclosures are good for neither bank nor borrower, the FDIC is refinancing 25,000 mortgages formerly held by IndyMac with loans as low as 3%. This standardized approach to addressing borrower woes which can be quite varied is not without critics. Given that some of these mortgages are still likely to foreclose, there could be problems down the road with any potential buyers of IndyMac’s Assets. The FDIC appears to be eager to take some action after declaring the foreclosure ceasefire, which can’t last forever. It could be that lenders will appreciate some attempt at a solution that aims to reduce foreclosures. But given that the FDIC can’t even make the guarantee that they’ll attempt this with any future failed banks, it’s hard to imagine this plan will attract many speculators with big checkbooks.

Bush shelves children’s insurance compliance concerns

The President has backed off threats to impose financial penalties on states that have enrolled too many children in a State Federal insurance program. Fifteen states were threatened with penalties to take effect Monday if they failed to remove children from families with incomes of 250% of the poverty line from the program. Legislators argued that the new guidelines, including a requirement that children go uninsured for one year prior to being enrolled, were too stringent and would result in too many children going uninsured. The State Children’s Health Insurance Program, or SCHIP insures 6.6 million people, an overwhelming majority of whom are children. Compliance concerns haven’t evaporated, but for the immediate future, their enforcement and resulting fines and loss of Federal funding have been taken off the table.

Credit crunch hits universities as they struggle to keep enrollment high.

Keeping enrollment up during the credit crunch is a difficult task faced by the nation’s colleges and universities. Moody’s Investor Service recently downgraded their rating of the nation’s colleges and universities. Half a year ago they indicated that the financial outlook for such institutions was stable, but in light of the persistent downturn in the economy, they have reconsidered.
Having diversified sources of income, Colleges and universities have always fared well, even when tuition outpaces inflation. But the credit crunch resulting from the subprime lending crisis has lenders everywhere tightening their purse strings. Federal regulators have recently loosened restrictions on student and parent loans to make it easier to keep students enrolled. Even so, lenders are dropping their less profitable loan products. With fewer lenders and dwindling home equity, all the usual sources of extra money to keep students enrolled are drying up.
Universities across the nation are scrambling to find other ways to make attending school cheaper. Some schools are offering classes only four days a week, so students don’t have to drive to campus five days a week. Schools across the country are seeing increased enrollment in their online classes. While online classes aren’t any cheaper, enrolling in them does cut down on gas prices, which continue to climb.
The more challenging it becomes to hit target enrollment numbers, the more universities are making use of lead management software to find more students to fill their classes.

California makes another attempt at reforming the insurance industry

Efforts to pass a universal health plan failed earlier this year. But the issue is still alive in the hearts and minds of legislators. They are keen to avoid fully scrapping the two years of work they put into wholesale health care reform.
If government requires that certain services are included in insurance policies, it drives up the cost of these policies and leaves people who can’t afford them uninsured. When the government doesn’t stipulate the details of insurance policies, cheaper plans come available, but these cheaper health plans aren’t made available to elderly or infirm, who need them most.
There is an equal but opposite reaction within the insurance industry for every bit of regulating the government does.
California is trying to chart a third course that limits the insurers’ profits on individual health care plans, as well as limit the annual spending of the insured.  Governor Schwarzenegger opposes stipulating specific services to be included in policies, but proponents of such limits suggest that it’s the only way to provide consumers with meaningful healthcare reform.

Mortgage rescue bill will not be vetoed

President Bush has dropped his threat to veto the housing rescue bill. His threatened veto was based mostly on $4 Billion to be given to states to enable them to buy and rehabilitate foreclosed properties. Questions were raised by Senator Jim DeMint, R-S.C., after learning that one of the bills architects, Senate Banking Committee Chairman Christopher J. Dodd, D-Conn., received a mortgage deal through a VIP program at Countrywide. Unsure how much Countrywide and other retail mortgage lenders stand to profit from that $4 Billion, DeMint and Sen. Jim Bunning, R-Ky., attempted to send the bill back to committee but were defeated, 70-11. Other attempts to send back the bill to be rewritten were similarly defeated. This bill which offers some relief to homeowners on the brink of foreclosing, have broad bipartisan support in this election year, indicating there may be enough votes to override a veto. Eager to avoid a protracted veto fight, President Bush dropped his threat, indicating that restoring confidence and stability to the financial markets was a goal that was better tended to sooner than later.

Fannie and Freddie Bailout Price Tag - $25 Billion?

A price has been put on the potential Fannie and Freddie bailout. The price tag could be as much as $25 billion. It is not a fait accompli, however. Peter R. Orszag, Director of the nonpartisan Congressional Budget Office put the odds at better than half that Fannie and Freddie will not use need any cash. Critics of the bailout maintain that homeowners should be the first to benefit from any taxpayer help. But if it is approved by congress, restoring confidence to investors in the U.S. and internationally is the bailout’s aim.  We will continue to closely watch the developments at Fannie and Freddie along with our mortgage broker and mortgage banker clients.