- Thread starter
- #22
Forty in 2 weeks. That is 4 a day. How long do you spend with them going over the drug list, asking how much they spend on drugs, is this or that drug covered, do you see a lot of specialists, etc.
Hm? At four a day, you must be sitting in one of the booths.
But I never have played the Medicare market and only do it when it comes by me. Maybe that is why I resent paying anything to play i a market I don't care to do.
I was snooping online today. Wow there a lot of bad activity being perpetrated by agents in the MA market.
My renewals are $144 ($12 a month) per individual.
In 1982 I looked at an agency that was doing senior life. The owner told me I would write X amount a week, they had plenty of leads and current customers. He took me out one day to "show me the ropes." Yep it was the ropes all right and the seniors were getting tied up in the ropes. He wrote three life cases that day averaging $400 commission on each sale. What he was doing was taking their old policies, cashing them in using the cash value to put toward the new policies. Churning the old people's policies. It was DISGUSTING. One person was so feeble that they could barely write their name.
I did not do any business with them.
Today's scam is to sign people up on the zero dollar plans but the people didn't know the agent changed them to the zero dollar plan. Not sure of the particulars but each State has investigations and they are asking for help from the Feds.
Hm? At four a day, you must be sitting in one of the booths.
But I never have played the Medicare market and only do it when it comes by me. Maybe that is why I resent paying anything to play i a market I don't care to do.
I was snooping online today. Wow there a lot of bad activity being perpetrated by agents in the MA market.
My renewals are $144 ($12 a month) per individual.
In 1982 I looked at an agency that was doing senior life. The owner told me I would write X amount a week, they had plenty of leads and current customers. He took me out one day to "show me the ropes." Yep it was the ropes all right and the seniors were getting tied up in the ropes. He wrote three life cases that day averaging $400 commission on each sale. What he was doing was taking their old policies, cashing them in using the cash value to put toward the new policies. Churning the old people's policies. It was DISGUSTING. One person was so feeble that they could barely write their name.
I did not do any business with them.
Today's scam is to sign people up on the zero dollar plans but the people didn't know the agent changed them to the zero dollar plan. Not sure of the particulars but each State has investigations and they are asking for help from the Feds.
- 15,319
Not that it matters to anyone but me, but I wrote 19 apps on 11/2 and 11/3. These were for current clients who were losing their Aetna PFFS. I also moved another 10 over the next 2 weeks. Remember that there would be zero renewals on all of them so I have to count all as "full" renewal commisison.
The others were from a couple of seminars, referrals, etc. Only a couple of them were new to Medicare.
Over the weekend I received 4 apps in the mail and visited with a lead and wrote 2 more.
This can be done and really doesn't take a ton of effort. I've played 5 rounds of golf in November and 4 softball games. I do not sit in a booth.
Just today, my son wrote 4 apps on 3 appointments.
But thanks for your concern.
Rick
The others were from a couple of seminars, referrals, etc. Only a couple of them were new to Medicare.
Over the weekend I received 4 apps in the mail and visited with a lead and wrote 2 more.
This can be done and really doesn't take a ton of effort. I've played 5 rounds of golf in November and 4 softball games. I do not sit in a booth.
Just today, my son wrote 4 apps on 3 appointments.
But thanks for your concern.
Rick
- Thread starter
- #24
That makes more sense. Thirty were moving from plans that were being dropped.
I am glad that you aren't a booth sitter.
Weird that last year CMS held up some of my initial commissions because they weren't sure the beneficary was new to MA plans. I guess you lucked out on that one because I am guessing that when a plan terminates, the beneficiary is determined to be new.
CMS did get their act together and finally paid. The clients were new to MA plans. CMS had several releases on how they were going to pay commissions, what they considered new to MA, etc. Many of us waited while CMS dithered over the word "new".
In 2009, CMS requires organizations to pay the renewal rate for all enrollments except those of beneficiaries newly entitled to Medicare or enrolling in an MA plan, Cost plan or PDP for the first time. This means for example that for 2009 MA plans with an initial year commission amount of $400 will pay a commission of $200 to their agents and brokers, unless the enrollment is for a beneficiary newly entitled to Medicare or enrolling in a MA plan for the first time.
As I said before, money isn't everything in life and staying away from CMS is worth the lost commissions. Think of it as paying for a stress free existence.
I am glad that you aren't a booth sitter.
Weird that last year CMS held up some of my initial commissions because they weren't sure the beneficary was new to MA plans. I guess you lucked out on that one because I am guessing that when a plan terminates, the beneficiary is determined to be new.
CMS did get their act together and finally paid. The clients were new to MA plans. CMS had several releases on how they were going to pay commissions, what they considered new to MA, etc. Many of us waited while CMS dithered over the word "new".
In 2009, CMS requires organizations to pay the renewal rate for all enrollments except those of beneficiaries newly entitled to Medicare or enrolling in an MA plan, Cost plan or PDP for the first time. This means for example that for 2009 MA plans with an initial year commission amount of $400 will pay a commission of $200 to their agents and brokers, unless the enrollment is for a beneficiary newly entitled to Medicare or enrolling in a MA plan for the first time.
As I said before, money isn't everything in life and staying away from CMS is worth the lost commissions. Think of it as paying for a stress free existence.
