Report: #599022

Complaint Review: Insphere Insurance Solutions, Inc.

  • Submitted: Sat, May 01, 2010
  • Updated: Thu, October 21, 2010
  • Reported By: Yodie — United States of America
  • Insphere Insurance Solutions, Inc.
    9151 Boulevard 26
    North Richland Hills, Texas
    United States of America

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I am astounded by the compensation that the top executives at Healthmarkets (which is Insphere) are getting for the jobs they have.  What a rip.  Take a look at the numbers that comes from there filings on their website. This just came out on 4/27/10.

Phil Hildebrand, CEO - Total Compensation for 2009 is $19,703,120!!!! This is actually way above what he got paid previously.  In 2008, it was $11,354,210.  Not only did the numbers for the company go down significantly, he got an 8 million dollar raise.

Anurag Chandra - COO - Total Compensation for 2009 is $10,780,481.  What the heck does this guy even do?

Steven P. Erwin - Total Compensation for 2009 is $2,612,683, which is up half a million from the year before.

Jack V. Heller - Total Compensation for 2009 is $1,656,689, which is up over $300k from the year before.

B. Curtis Westen - Total Compensation for 2009 is $2,413,414.

That totals over $37 Million for just 5 people.  WTF??????


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#1 Author of original report

They are still crooks

AUTHOR: Yodie - (United States of America)


Here is the latest lawsuit!  They try to say it is different now, but it is not, is it? 


To: All Appointed AgentsFrom: Phil Hildebrand, President and CEO Date: October 21, 2010 Re: HealthMarkets Media Coverage Yesterday afternoon, HealthMarkets became aware that a lawsuit had been filed against the company and its private equity partners by the Los Angeles City Attorneys office alleging agent misrepresentation of our health insurance plans. News of the lawsuit was reported by the local media in Los Angeles and by media in Texas. Additional coverage of the lawsuit may occur over the next few days. At this time, the company has not received official notification of the lawsuit and, as a result, has not had the opportunity to review details related to the allegations. While it is disappointing to learn of this lawsuit and have HealthMarkets portrayed in a negative light, it is inappropriate to comment publically on pending litigation. In the event you are contacted by a reporter or a representative of the media, please direct them to Donna Ledbetter, HealthMarkets Director External Communications, at 817/255-5405 or via email at

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#2 Author of original report


AUTHOR: Yodie - (United States of America)


You are ignorant.  That is not an insult actually, if you read the definition of it, you will see that I am correct.  None of the people listed are agents working for commissions.  NONE of them.  They are corporate level employees that continue to tell the poor actual agents at that company that "There are good things coming, just wait and see." And nothing ever does.

I have done my homework, and perhaps you should also.  They do not make commissions, but do get paid a "performance bonus", which they vote on themselves, and it is unrelated to the actual sales.  Meanwhile, they have let their company stock go down to pennies of what it previously was, which is how they have funded the "bonuses."

However, as I know that they are reading this right now (because they have employees that get paid to read this site and try to counter it as fake people), I am going to make a prediction.  Now if I am right, I should be given credit for this.  If I am wrong, then I will accept the fact that I don't know anything.

We are coming to the end of the year after the company went from $19/share to $7/share.  The reason for this is that there is a real review of the value of the company in the spring by outside parties.  However, the company appraises itself for value every year right before their Reunion event in December.  The reason they do that is because they know that agents are waiting for the third week in December when they get end of the year bonuses, and then the agents that have decided to move to reputable companies leave.

So, what Insphere does is boost the stock in December, announcing that good things are coming!  The stock is going to one day hit $80 per share!!!!  That gets everyone to stay, but you can't cash the stock out for some period of time that happens to be after the Spring review.

So watch and see!  The Magic Stock at work!  It will go up despite the fact the company has lost a ton of money (yes, I did my research.  Go to the website and read the review of their financial statements before you say that I did not.  It is ALL there in black and white.)  But it will go down a few months later.

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#3 General Comment

These people don't "give" themselves raises, they're paid commission!!

AUTHOR: Sue - (U.S.A.)

I'm an insurance agent in NY. My cousin called me asking if I knew anything about this company. I DO NOT work for this company, but I have worked for another "bad mouthed" company for over 7 years. Yodie, I'd like to explain something to you. These people whose salaries you don't "like" are most likely insurance agents. Though they have titles and are high-up in the company, they are still paid based on commission. Insurance companies invest people's premiums in return for insurance / protection / security. The companies make huge amounts of money doing this. That is why their top agents make so much money. They are paid commission on everything their people sell. They get paid on new sales and a percentage of the policies that stay "on the books." This is why their "pay" increases each year.   These people didn't "give" themselves a raise. The company pays them, just like any other agent.

I also saw you mentioned many unpaid claims. So, I looked up Mega Life's (now Insphereis, apparently) AM Best Rating. It's a B++. That's considered "good". (AM Best is is like a report card for Insurance companies bast on claims, assets, etc.) 

Before you get mad that people make more money than you and bad-mouth a company who sells a product that can protect those of us who DON'T make $20 million a year, perhaps you should do your homework. And if you aspire to make anywhere near that kind of money, stop whining about the people who do and (try to) become one of them! 

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#4 Author of original report

Corporate BS

AUTHOR: Yodie - (United States of America)


You are obviously one of the Healthmarkets PR team putting in information, which is one of the things that they do to try to combat the posts on this website. The fact is, as I pretty well stated above, that they are not worth the money.  I personally do not care if someone makes $20 million.  That is great.  The issue here is that they are raping the company and the employees.  You would need to actually read their financial statements to understand, but obviously you have not.

Phil Hildebrand gave himself a $9 million raise not long before the company dropped their stock to $7/share from $19/share. It is not that he is overpaid.  It is that he does absolutely nothing.  In fact, he will be gone from that company in a few months because he is driving the company right into the ground.

Anurag Chandra also does absolutely nothing. The company is run primarily by 1099 agents that they simply make money off of.

All of that, indeed, adds up to a "Ripoff", which is why you find this post on  All you have to do is google his company to find out more about it.

Oh, I forgot to mention that their latest financial report shows that they have to pay around $24 million in unpaid, state mandated claims to many people across the country this year.

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#5 Consumer Suggestion

Call NOW!

AUTHOR: Robert - (USA)

Call President Obama and Nancy Pelosi right NOW!

I'm sure they have a position for you somewhere in our bloated government.  Perhaps "corporate compensation czar?"  Oh wait, THAT POST is already filled.  No matter, with your perspective, I'm sure they'll find something for you.

Here's a thought;  tell me why you think you, barack, nancy, or anyone else has a right to determine (dictate) what is an "appropriate compensation" for any corporate officer?

Take your time.  We'll wait.

After you get done with that, take a look at the individual State records.  The overwhelming number of CORPORATIONS in THE UNITED STATES are SMALL BUSINESSES!

That's right!  Small businesses.

I'm incorporated in NY State.  I'm a small business with one corporation and 2 LCCs and 4 full time employees.  I provide services and goods that my clients are happy to utilize for compensation that I set.  What gives YOU or ANYONE ELSE the right to determine what I charge or what I PAY MYSELF???  What gives anyone the right to interject into a lawful and legal business transaction between private citizens?

Take your time...

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#6 Author of original report

I guess I need to spell it out

AUTHOR: Yodie - (United States of America)

 Obviously you did not read the other post on this site about Insphere, although you commented on it.

The point of this post is that Phil Hildebrand and Anurag Chandra make around $20 million and $10 million, respectively. That is $30 million. If you assumed the average agent at Insphere makes $60,000/year (which is probably high), then those 2 people alone make more than the top 500 agents combined.

That is indeed a Ripoff to every agent that works at that company.  There is absolutely, positively no way that rither one of those two are worth 500 agents.

And, just in case you wonder what this has to do with consumers, the premiums consumers pay are way too high for the products they have, partly because of those salaries/bonuses.

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#7 Consumer Comment



This is Rip-off report. What do their earnings have to do with anything? Do you feel they are ripping off consumers?
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