BCBS of FL Ind Health Commissions

[compliance1]

Thank you Blue and I may just do that in the very near future.

On the medicare: You replace one supplement from another company with BC, does it pay commission?
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What part of the State are you in Blue?

 

[Blue]

Thank you Blue and I may just do that in the very near future.

On the medicare: You replace one supplement from another company with BC, does it pay commission?
- - - - - - - - - - - - - - - - - -
What part of the State are you in Blue?

It pays at the renewal rate if I read the contract correctly. CMS drives me nuts.

 

[compliance1]

Thanks for the info Blue. I am still debating on what to do. You never did say what part of state you were in? You don't have to name city just southern, central, north or northwest.

Yep CMS is something else. So is BC seeding for medicare supplements.

 

[psl07]

When you find out let me know. BC does advance an annual commission though a percentage not a flat rate per app. Don't know about the trails. I bet I know who is offering you that deal? Let's play guessing game a MGA out of Jacksonville?

No, it's an MAA in South FL that's trying to contract me as one of their agents. Wants to pay me 1 mo's premium and that's it. So, if I write a $250/mo. individual Under 65 BCBS of FL policy, they're proposing to pay me $250. But they won't hit me on any chargebacks. Looks like they want to pay me 46% split if they get 18% of the annual. Sounds like a raw deal to me.

 

[YouGotMyMoney]

No, it's an MAA in South FL that's trying to contract me as one of their agents. Wants to pay me 1 mo's premium and that's it. So, if I write a $250/mo. individual Under 65 BCBS of FL policy, they're proposing to pay me $250. But they won't hit me on any chargebacks. Looks like they want to pay me 46% split if they get 18% of the annual. Sounds like a raw deal to me.

Well, that is crap for sure.

Unless they gave you free leads to work with, and I still wouldn't do it....If your avg app is $300 and and saved $100-150 in lead costs to earn a client, that's about $450 per avg app.....compared to 18% x $3600 = $648.....not worth it however you dice it ,even if they gave you free leads.

 

[compliance1]

No, it's an MAA in South FL that's trying to contract me as one of their agents. Wants to pay me 1 mo's premium and that's it. So, if I write a $250/mo. individual Under 65 BCBS of FL policy, they're proposing to pay me $250. But they won't hit me on any chargebacks. Looks like they want to pay me 46% split if they get 18% of the annual. Sounds like a raw deal to me.[/quo

Sounds like a bad deal to me.

 

[compliance1]

I heard last week BCBSFL is going back to a flat dollar amount for Med Supps right away.

 

[Blue]

Yes on flat dollar on sups. Already done. Our main office is in central. We operate 5 offices in central and north. There seems to be some difference of opinion about MAA. Here is what an MAA is. Anything else is not a direct contract with Blue Cross. 18% first year and 4% trails. An MGA has NO flexibility. It is what it is. If you are offered anything else that it is something else. Something Blue Cross is not aware of and most likely being done without the knowledge of BCBS. Some CGA agencies will license agents not under their direct control and give strange commissions. This is not supposed to be happening. Either CGA agents under direct control or MAA as I explained above. Nothing else allowed.

 

[compliance1]

I think that some MGA's are doing their own thing, because I know some agents that are working out of their homes as a so called independent broker making around 10% commission no trails. Not only are they suppose to be captive with BC they are offering and selling other health insurers first without a decline from BC first. But then again I know a CGA that's offering other companies out of his office. It's just who you know at BC that makes it possible to get away with it.

 

[compliance1]

Blue I might be contacting you after the 1st of the year. You need 20 posts I believe to respond or pm me.