AARP Medicare Supplement Commission Changes

[insurance0707]

AARP is making some changes to how they pay their Medicare supplement commissions and renewals....Good Changes!

They will now pay weekly commissions, even if the first month's premium is not submitted with the application.

For renewals, they will pay them I believe the 1st week of the month AND they will pay the renewals whether they've actually received them from the client or not. I have some clients that pay monthly direct and I don't get paid on my renwals until AARP actually receives it. AARP will now pay renwals regardless if they receive the premium or not. (Of course they will charge it back if the client doesn't pay at all and cancels)

Finally, You know how they would pay you twice on a Medicare supplement for any policies you wrote in the last couple of months of the year and then at the beginning of the year they would give you a huge chargeback for all of the double payments you received.....they will no longer make double payments and you won't get that big chargeback

Just thought I'd pass on the info. If you have access to the agent portal website, you can read this info on the home page.

 

[medsuptage]

I came in this thread hoping to see a notice of AARP paying remotely competitive Commission now.


I was clearly wrong.

 

[insurance0707]

I apologize, should have had a better topic heading. It would be nice if they paid a higher commission, you're right. But if you write any amount of business with AARP's Med supps you know that they are very slow in paying on new business and renewals sometimes don't always show up all at once. I was expecting $3,000 in renwals and I got $2,500. In the last week of the month, they paid me the other $500, about 3 weeks late.

 

[Guest]

This has always been a pain in the A@@ to me too, it'll be nice to finally get my budget on track.

 

[AllGold]

Good news! The renewals not being paid together had to double their administrative expense (just for renewals but still).

The double payment at the end of the year and subsequent chargeback thing was just dumb.

 

[insurance0707]

I know I'm glad the double payment thing has been done away with. It seemed like I worked the first 2 or 3 months just paying off the debit balance due to chargeback. I was always just tempted to send them a check whenever they paid me twice and pay it off that way, but I didn't trust them to apply it correctly, I'm sure it would have gotten messed up somehow.

 

[dmans]

AARP is making some changes to how they pay their Medicare supplement commissions and renewals....Good Changes!

They will now pay weekly commissions, even if the first month's premium is not submitted with the application.

For renewals, they will pay them I believe the 1st week of the month AND they will pay the renewals whether they've actually received them from the client or not. I have some clients that pay monthly direct and I don't get paid on my renwals until AARP actually receives it. AARP will now pay renwals regardless if they receive the premium or not. (Of course they will charge it back if the client doesn't pay at all and cancels)

Finally, You know how they would pay you twice on a Medicare supplement for any policies you wrote in the last couple of months of the year and then at the beginning of the year they would give you a huge chargeback for all of the double payments you received.....they will no longer make double payments and you won't get that big chargeback

Just thought I'd pass on the info. If you have access to the agent portal website, you can read this info on the home page.

Can you tell me the Medicare Supplement commission percentage for Alaska?