If you are an independent agent selling and enrolling members into subsidy plans, all carriers are not created equal concerning the exchanges. The induvudual compensation plan for Blue Cross Blue Shield of Michigan (BCBSM) seems to good to be true, and it is for tbe most part. Three comp structures make it very attractive to the would be newcomer agent. A New to Blues bonus and retention plus a 3% base commission. The new member bonus is where the significant comp is in the plan. As you add more new members you hit commission thresholds upwards to 300 dollars per new member when reaching the 200 member benchmark. They promise the sky and don't deliver, or live up to and honor their own contracts.
I personally wrote over 300'000 dollars in annual premium in subsidy plans in a period of six months, to date I have received one five hundred dollar base commission check and this was after submitting several inquiries through my MGA Action Benefits out of Southfield Michigan which is by design because both the carrier and the MGA finger pointed for months before I filled a grevience with the State Department DFIS office.
Every month they incited some reason for delay of payment, either the didn't have my ACA certifications (submitted to them several times) or I was not in the agent compensation system, they would conveniently omit members from my commission report so as to delay yet another month getting paid. It took me a year to learn that Blue Cross is doing this by design and not internal incompetence. There are other carriers that pay well and timely. Because I live in an area where Blues have perdominant presence I felt compelled to offer their plans, that resulted in me almost ending up in the poor house.
I'm fortunate I have a spouse that could carry the load financially during this orgastrated hardship. To this date, I have not received all of my base pay or any bonus money including my retention bonuses. I am now beginning to build new business with other carriers, almost a year later and starting over is not a good feeling. So agents beware when dealing with the Blues, you could end up singing tnem.
I personally wrote over 300'000 dollars in annual premium in subsidy plans in a period of six months, to date I have received one five hundred dollar base commission check and this was after submitting several inquiries through my MGA Action Benefits out of Southfield Michigan which is by design because both the carrier and the MGA finger pointed for months before I filled a grevience with the State Department DFIS office.
Every month they incited some reason for delay of payment, either the didn't have my ACA certifications (submitted to them several times) or I was not in the agent compensation system, they would conveniently omit members from my commission report so as to delay yet another month getting paid. It took me a year to learn that Blue Cross is doing this by design and not internal incompetence. There are other carriers that pay well and timely. Because I live in an area where Blues have perdominant presence I felt compelled to offer their plans, that resulted in me almost ending up in the poor house.
I'm fortunate I have a spouse that could carry the load financially during this orgastrated hardship. To this date, I have not received all of my base pay or any bonus money including my retention bonuses. I am now beginning to build new business with other carriers, almost a year later and starting over is not a good feeling. So agents beware when dealing with the Blues, you could end up singing tnem.
