Debit Balance Shocker

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billyb

Guru
1000 Post Club
2,178
Florida
I have written AARP UHC Medicare Supplements for years and have had several writing numbers during that time when I moved from one FMO to another. Never had a debit balance with them until now.

Last week I received a commission statement dated 4/22/2017 that is probably 500 pages long. I didn't pay it no attention until this morning when I noticed they are for 2 ID numbers and they are reflecting chargebacks on almost every policy I have ever written. One ID totals $9135.00 and the other shows negative balance of $21,280.00 for a total debit balance of $30,415.00. Now that caught my attention.

I called the PHD and was told I would have to submit a PHD Inquiry Form for each policy number for them to be able to audit these transactions. I have a call into my current upline to see what they say. Anybody else get this done to them? I can't be the only agent this happened to.

Most of these contracts are active. What is going on?
 
They have done the same thing to me. They are telling me that agents who were under my contract who wrote business, those override commissions should have stopped when they were moved from under my contract. Below is UHC response:

The chargebacks dated 04/22/2017 were the result of an audit that was used to correct an overpayment. The research I have done shows that on 10/09/2011 you were removed from the hierarchy of the agents listed on your commission statement. When this happened the commissions should have stopped; however the commissions continued to process. The chargeback on 04/22/2017 was to correct that overpayment.
 
I have never had any agents under me. I have had several writing numbers over the years because of moving my contract to another FMO. I personally wrote every one of these policies. What do you plan to do to correct your situation?
 
billyb said:
I have never had any agents under me. I have had several writing numbers over the years because of moving my contract to another FMO. I personally wrote every one of these policies. What do you plan to do to correct your situation?
Click to expand...

The best thing you can do is work closely with UHC and your current upline to have a payment plan setup. This is very unfortunate news. If you plan to continue in insurance. It would be best not to get on vector or collections for that matter.

I would also fill out that form they told you to for every ID you had. That's not chump change for sure!
 
I will not pay them a dime. I am an agent in good standing and have always been compliant. Just had several policies issued and nothing was said. My upline assures me that their contact at UHC will get this corrected. I told them this could be an issue if I was reported to Vector or a collection agency. It makes me nervous when my upline or anyone at UHC cannot give a reason this happened to begin with. What would you think if you received about 500 pages of charges with no cover letter? Should have sent me something in writing explaining why I was being charged. Anyone know a good attorney?
 
billyb said:
I will not pay them a dime. I am an agent in good standing and have always been compliant. Just had several policies issued and nothing was said. My upline assures me that their contact at UHC will get this corrected. I told them this could be an issue if I was reported to Vector or a collection agency. It makes me nervous when my upline or anyone at UHC cannot give a reason this happened to begin with. What would you think if you received about 500 pages of charges with no cover letter? Should have sent me something in writing explaining why I was being charged. Anyone know a good attorney?
Click to expand...

I would be upset as well. The only reason I advised a payment plan or something of that nature. Is so the thought of vector wouldn't be a concern. I do agree that If you do not owe it. You shouldn't pay it. I would definitely attorney up! Hopefully everything gets resolved!
 
billyb said:
Got a call from my up line today and they said all charges were reversed and my debit balance was $0. Still couldn't explain what happened.
Click to expand...

So the "audit" was 500 pages incorrect...how come this makes me even more nervous.
 
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