Anthem in IN Posts Commissions for ACA Compliant Plans on Jan 1 or After...!
- Thread starter AAEILER
- Start date
- 349
That looks promising
- 1,896
Far from what Humana put out.
- Thread starter
- #4
Yes, better than I had feared. I was afraid they would go for just a flat rate per policy, and not per member. Brokers will definitely benefit with family policies as opposed to a high premium plan with a single member...then the rate doesn't necessarily work in your favor.
Agreed. If the word "member" in "per member per month" means per person in the family then it is promising for certain size cases.
With 3 members in the family, $57 per month is equivalent to this percentage:
On $800 premium - 7.13%
On $1100 premium - 5.18%
With 5 members in the family, $95 per month is equivalent to this percentage:
On $800 premium - 11.9%
On $1100 premium - 8.63%
On $1600 premium - 5.94%
But if "member" means the contractholder, then it's not good.
On $500 premium, $19 is 3.8% commission
On $800 premium, $19 is 2.38% commission
On $1100 premium, $19 is 1.73% commission
Read the contract carefully, because here in AZ we have carriers doing group commission of "PMPM" that actually just means the contractholder, regardless of how many dependents are added.
Second year commission is 63% of first year because $12 is 63% of $19
With 3 members in the family, $57 per month is equivalent to this percentage:
On $800 premium - 7.13%
On $1100 premium - 5.18%
With 5 members in the family, $95 per month is equivalent to this percentage:
On $800 premium - 11.9%
On $1100 premium - 8.63%
On $1600 premium - 5.94%
But if "member" means the contractholder, then it's not good.
On $500 premium, $19 is 3.8% commission
On $800 premium, $19 is 2.38% commission
On $1100 premium, $19 is 1.73% commission
Read the contract carefully, because here in AZ we have carriers doing group commission of "PMPM" that actually just means the contractholder, regardless of how many dependents are added.
Second year commission is 63% of first year because $12 is 63% of $19
- 8,448
Am I reading this right? A 50 year old pays $450 per month and the agent only gets $19 per month? That's 4.2% commission.
I'm so thankful that our Illinois Blue Cross values the personal touch we provide and is going to pay "percentage of premium", just like they do now. Anthem in Indiana is obviously viewing the world through dirty goggles!
Am I reading this right? A 50 year old pays $450 per month and the agent only gets $19 per month? That's 4.2% commission.
I'm so thankful that our Illinois Blue Cross values the personal touch we provide and is going to pay "percentage of premium", just like they do now. Anthem in Indiana is obviously viewing the world through dirty goggles!
Yeah but the majority of people I sign up with be in their 20's and 30's. premium what? $200. Nearly 10%.
BCBS of Kentucky just posted $18 PMPM 1st year $12 PMPM renewal on or off exchange. I see a trend.
- Thread starter
- #9
Ann H- yes, it's per member- not contract holder. Again, there are some definite pros and cons- not great for scenario(s) like AllenChicago gave, but can come out ahead on family policies and single member lower premiums like riskybiz stated.
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...and before I get virtual things thrown at me, by "come out ahead" I mean not totally screwed like thought we could have been.
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...and before I get virtual things thrown at me, by "come out ahead" I mean not totally screwed like thought we could have been.
- 10,276
I'm happy with it. Very fair.
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