CMS Rescinds October 8th MA Commission Guidance

[Bob_The_Insurance_Guy]

I only work with referrals from my parents, and associates I work with (Financial Planners who don't want to do any health-related work, and refer me to their clients).

I only work with people I know, and have met before. If it's a referral from a FP, I have them schedule a meeting with me and the prospective Medicare Beneficiaries. He/She, the FP, brings up the Medicare coverage options, introduces me as the "Medicare Expert", and makes sure the people contact me first, to make sure they are serious about working with me.

With my parents' friends, I called my mom the other night, when I read the CMS regulations, and she is contacting all her friends, and my Aunt, and making them send me an e-mail or write me a letter to my office, initiating contact, including Docs and Meds.

The Financial Planners know how ridiculous this is, because they deal with the SEC for Securities-based products, so this is nothing new to them, and they fully understand.

CMS is preventing me from hiring a telemarketer or buying leads, which I don't do anyway. So, it's a win-win situation, they prevent me from contacting Medicare beneficiaries in that manner, and I have a product to provide to my parents' friends and associates clients.

As for commissions, I'd rather get as-earned anyway. That's how I operate with Major Medical, Life and Long Term Care.

Again, let me repeat, we are smarter than CMS.

 

[mking]

Here is the issues!

1) The goverment telling PRIVATE insurance what they can Pay their indenpent agents??....If this goes through WHAT IS NEXT??........THe gov gives priviate companies money all the time, do you have a say in the compensation of those exectives?

2) With a reduction in commissions for 2009....The only people who will make MORE money will be the insurance companies!...Rates are set, brochures are printed, Is this not
what the DEMOCRATS do NOT want, insurance companies making more money? They will go to the bank in 2009 and us the sole prop, small business MAPD sales people will get a smaller commission in a time when expenses are going up....THe writing is on the wall.....If Democrats win the Pres. and have a majority in Congress watch out !!THE MA party will be over...........Period.

 

[midwestbroker]

The PFFS party will be over. Rural markets will go back to supp only areas.

Metros will go on, but gone may be the $0 premium plans. Who does that hurt? The beneficiary.

If the insurance carriers make more money, that is more money for the lobbyists to throw at the "law makers".