Bonuses - New Wave of Commission Enhancements?

[jbage007]

Given that so many carriers are paying huge bonuses for new business, I'm beginning to wonder if this isn't one of the key methods they will be utilizing to "enhance" otherwise diminished commissions?

Just wonderin'

After all, this is a method by which to reward top producers without making it look like they are discriminating against the grunts.

 

[SusieQ2]

Problem with that is you have to write most of your business with one company. Maybe when all the reform crap goes through there won't be much difference in companies and plans and that will work.

 

[VolAgent]

Problem with that is you have to write most of your business with one company. Maybe when all the reform crap goes through there won't be much difference in companies and plans and that will work.

That is exactly the point of the bonus, to drive your production to them versus the other companies.

 

[Yagents]

I'll be concerned if a friggin democrat like Schumer finds out about these bonuses. He will start bashing the companies for raising rates and having profits, and giving kickbacks to us "fat cat bankers". Remember, it's a gov't controlled industry now (basically), and will be treated like AIG bonuses in the news.

 

[AllenChicago]

Given that so many carriers are paying huge bonuses for new business, I'm beginning to wonder if this isn't one of the key methods they will be utilizing to "enhance" otherwise diminished commissions?

Just wonderin'

After all, this is a method by which to reward top producers without making it look like they are discriminating against the grunts.

Might be part of an overall strategy I was told about on Friday to reduce the negative effect of new MLR rules. Shunt majority of pay to larger producers (which weeds out the part-timers) and increase the "service fee" component of health insurance premiums. I suppose service fees are not considered premiums?
-AC

 

[ABC]

Might be part of an overall strategy I was told about on Friday to reduce the negative effect of new MLR rules. Shunt majority of pay to larger producers (which weeds out the part-timers) and increase the "service fee" component of health insurance premiums. I suppose service fees are not considered premiums?
-AC

"Service fee" now that is very interesting
I like that a lot better than consulting fee

 

[TXINSURANCE]

You can pay however you want it still comes out of the 20%, unless they loosen up the agent comp from the MLR down the road.

 

[jbage007]

You can pay however you want it still comes out of the 20%, unless they loosen up the agent comp from the MLR down the road.

I'm not so sure about that.

There are many loopholes in the law and more being "found" every day. That goofy health access plan you are now promoting represents one such loophole (and one lousy value for the consumer, in my opinion).

 

[mminsurance]

Hopefully they will faze in the MLR but one can only hope.