Compensating Non-FFM Health Agents for Referrals.

[AllenChicago]

When a non-FFMarketplace agent refers an APTC-eligible client to you, what is the customary referral gratuity, if any?

A couple of local agents who are health licensed, but not FFM Certified have referred me a few of their Life, Temp, etc.. clients. I've told them thank-you for the referral and said that I'll give them a referral gratuity, but each agent has said they don't want anything. They just want to stay as far away as possible from the Exchange/Marketplace, and for their clients to be taken care of properly.

We don't make much $$$ on a $500 premium, but since these agents are local acquaintances, I'm going to do SOMETHING to show my appreciation, but what should it be? I paid for one agent's lunch today after we visited with her Life Insurance client and enrolled that client in an ACA-subsidized plan. Is that enough?

Or, should I wait until February, after the first commission is paid on 2016 business and just make it a gift card that's commensurate with the aggregate of commission generated by their referrals?

It's easy when you get referrals from P&C guys/gals. Just reciprocate. But from other health-life agents? What do YOU do?

 

[rugerred]

I give $50, for every one sold.

 

[Chazm]

I'm curious as well. I just got linked up with 2 State Farm offices that are throwing me their Assurant business. I probably should do something too after open enrollment

 

[kgmom219]

I'm curious as well. I just got linked up with 2 State Farm offices that are throwing me their Assurant business. I probably should do something too after open enrollment

In February, I hand deliver cookies (or some type of treat) to my referral sources.

I also handwrite a thank you note on their Christmas card.

The big ones I take to lunch in the Spring/Summer.

Most of them don't want money, they want referrals and happy clients.

 

[HammerTime]

I give $50, for every one sold.

That seems like it might be a little high considering it could take you 2-3 months to make that on the commission. (Depending on the carrier and family size obviously). I do $25 gift card.

 

[rugerred]

That seems like it might be a little high considering it could take you 2-3 months to make that on the commission. (Depending on the carrier and family size obviously). I do $25 gift card.

It's a little high, but trading $50 for $300 is a no brainer. Not to mention that is just the first year, I have had some turn into med supps after a year.