Commissions----what Happened?

[stuy119]

So what is going to happen if comp hasn't been released prior to 10/1? Is anyone going to sell, or are you going to hold off until it's released?

I have a feeling we might not have every carrier's comp out by then.

 

[SecureHealth1]

In Florida, the company of a royal color will be paying PMPM in a similar manner to the current structure.

I've heard % from the C (unofficially) with a pretty good renewal rate

The other companies on the exchanges who are also extending plans to the end of 2014 would have to pay in a similar manner for both options, I would think.

Humana will let us know in the next webinar in October, the other guys probably about the same time.

It's frustrating because planning is difficult but I believe it will be a good deal for agents, at least for the next couple of years.

Have you seen this in writing from the company of royal color?

 

[AllenChicago]

So what is going to happen if comp hasn't been released prior to 10/1? Is anyone going to sell, or are you going to hold off until it's released?

I have a feeling we might not have every carrier's comp out by then.

Good question Stuy119. I'm planning on steering 99% of prospects to only 2 of the 4 that will be operating in my part of IL. They had BETTER have their compensation numbers out by then. Since this is a major contract change, they'll probably have to send us new contracts to read/sign/send back.

Is it fair to assume that no matter how many policies we sell, the first commission check/deposit will not be seen until February 2014?

ac

 

[timsip]

Good question Stuy119. I'm planning on steering 99% of prospects to only 2 of the 4 that will be operating in my part of IL. They had BETTER have their compensation numbers out by then. Since this is a major contract change, they'll probably have to send us new contracts to read/sign/send back.

Is it fair to assume that no matter how many policies we sell, the first commission check/deposit will not be seen until February 2014?

ac

Or April...they may wait until two things happen: 1-Open enrollment officially ends and 2-they get their first three months of premium to know if they are going to get stiffed or not.

 

[taterpeeler]

No comp... No sell.... Bout that simple... F'em

Mapd released comp and I'm certified. Don't need em if they don't release... Don't believe me insurance companies... Try me

 

[TonyC]

Or April...they may wait until two things happen: 1-Open enrollment officially ends and 2-they get their first three months of premium to know if they are going to get stiffed or not.

Holy Christ...you can't be serious....compensation won't be until 6mths later for selling an Indy Health Policy ? ? ?

Come on...this can't be true?

 

[russelltw]

Enroll someone Oct 1, expect to get paid on Feb commission run at best. The effective date will be 1/1/14, so company will not pay until then.

Hope people have cash saved up to cash flow this busy time. Welcome to the MA AEP world. Sell during AEP, get paid in Feb, Mar, or Apr....

 

[FLM2]

Have you seen this in writing from the company of royal color?

The company of royal color is never quick to release commission schedules as they don't pay you directly, it goes through the contracted general agent.

My info comes from the owner of the contracted general agency, we have a 5 year relationship and he's always been honest with me so I have no reason to believe it will be drastically different than that.

 

[anonymous1]

Enroll someone Oct 1, expect to get paid on Feb commission run at best. The effective date will be 1/1/14, so company will not pay until then.

Hope people have cash saved up to cash flow this busy time. Welcome to the MA AEP world. Sell during AEP, get paid in Feb, Mar, or Apr....

Wow. It's been my experience during AEP I get paid the next month write 30 in oct get 6k+ in nov. never had to wait till jan feb to get paid on AEP enrollment Now if they are new to ma the second half of first year commission I would say comes in feb march. Which is a nice little bump at that time. Last year didn't pay attention to new to ma got an extra 10k in feb. thought it was a mistake lol

 

[FLM2]

Enroll someone Oct 1, expect to get paid on Feb commission run at best. The effective date will be 1/1/14, so company will not pay until then.

Hope people have cash saved up to cash flow this busy time. Welcome to the MA AEP world. Sell during AEP, get paid in Feb, Mar, or Apr....

That will be a shock to newbie agents as well as anyone looking for the fast buck and is really good for established, experienced agents who have a solid renewal income base so I'm pleased to see that.