Aetna Commissions

[mariemerganser]

Did I miss a commission schedule change with Aetna? I'm pretty good about keeping up with this stuff but maybe something slipped passed me. Looking at my statement for this month and I am getting paid less on my new clients that I sold a $10,000 deductible to. The line item says "REDUCED COMMISSION 7%/3%".....anyone know anything about this?

 

[GA in GA]

Did I miss a commission schedule change with Aetna? I'm pretty good about keeping up with this stuff but maybe something slipped passed me. Looking at my statement for this month and I am getting paid less on my new clients that I sold a $10,000 deductible to. The line item says "REDUCED COMMISSION 7%/3%".....anyone know anything about this?

Yes, check your commission schedule on that product.

 

[mariemerganser]

Interesting. My rep told me tonight that there has been no change, apparently she didn't know. Anyone have a commission schedule for Florida?

 

[mmike160]

Log into Producer World and go to "Commission Services", pick Florida...

 

[AllenChicago]

According to the this forum thread: Aetna Commission Modification Letter , Aetna commissions will be reduced, but not until January 1, 2011.

-AC

 

[TXINSURANCE]

This has nothing to do with HCR that is a limited plan that always payed lower compensations since it's introduction. Read your commission schedule as far back as several years, you will see.

 

[AllenChicago]

Received my first Aetna commission check today for the one policy that I was able to get approved last month. On a $504.00 monthly premium, my commission was a measly $38.62.

I didn't even try to calculate what the commission percentage is. This was my first and (hopefully) my last case with Aetna. Entering the application was a pain and Aetna does not communicate to the agent how underwriting is progressing.

-A.C.

 

[djs]

Well, it's 7.6%, so I assume there is some rounding errors somewhere. Plan on being charged back a few pennies!!!

Of course, over the course of a year, you are looking at $460, which still isn't anything to sneeze at, but, when you figure your time, it may not be worthwhile either.

Dan

 

[AllenChicago]

Well, it's 7.6%, so I assume there is some rounding errors somewhere. Plan on being charged back a few pennies!!!

Of course, over the course of a year, you are looking at $460, which still isn't anything to sneeze at, but, when you figure your time, it may not be worthwhile either.

Dan

If this lady had been healtheir she would have also been approved for the Critical Illness plan that was part of this benefit package. But alas, she was declined. That would have been an additional $600 in commisions.

The important thing is that Mrs. NewClient was approved by Aetna, even though they knew she'd been turned down by 2 other carriers (IAC & Celtic) for heart and circulatory issues. The Aetna application entry process was enough to cause temp insanity, but I'm thankful that she now has major medical coverage. The longer I'm in this business, the more important taking care of people becomes. Aetna now replaces Celtic as my company of last resort for the hard to insure cases.
-A.C.

 

[GreenSky]

Sounds like she was rated and commission was paid on the base premium only. That's how it works in CA. I assume it works the same in IL.

Rick