Charging Broker Fees for Individual Plans

[insurance404]

I'm getting fed up with commissions getting cut for individual plans...

So for 2017 I'm thinking of charging a small broker fee like $50 or $75 for clients that call to renew...however, if they don't call to change plans they don't have to pay the fee...

Any ideas?

I called the OIC and Exchange, I can charge broker fees as long as it's all disclosed. Yet can't charge a fee for Apple Health.

 

[DanteThompson]

Atleast you know the compensation would be guaranteed.

 

[LGilmore]

The only problem for you is the next isn't going to charge a fee.

Individual health insurance sales are dying. Group may follow.

I would say adjust your business plan to where you're not so dependent on health sales to operate from. I still do health sales, but they contact me and we keep it short and simple. I am not putting any marketing money into individual health sales.

 

[insurance404]

I went all in on the broker fees and it's going extremely well.

I'm charging $99 for one, $198 for two or $299 for a family of 3+. Also charging an additional $100 per person for plans I get paid zero percent on (LifeWise and GHC Access PPO plans).

Ya, I lost about 10% of clients, but those are the ones that bitch and moan about everything in life...and were the most difficult.

Since we focus on individual health people seek out our expertise. So those that need help are willing to pay for it...and we find them the best deal for their needs!