Do you independent guys ever do worksite?

[Martian]

I do work site with Aflac, and I'm an independent. The money is there, but you should have something else to fall back on such as the direct market because sometimes it could take a bit to close down a deal and you have to eat between.

AGLA does a good job though from what I understand they don't touch accounts under ten with Section 125's. Plus they charge for them after the first year, Aflac does it for free for the entire duration that a business is active, and even then the Sec 125's are generic so as long as they don't add something totally new, such as something not on the orginal paperwork (they can switch providers though), they are in compliance.

If you like AGLA and are making good money, then keep it going. If you want to expand outside you can go with Aflac or Colonial and then get appointed to other companies that do Health or straight up life stuff.

 

[Survivor]

I do work site with Aflac, and I'm an independent. The money is there, but you should have something else to fall back on such as the direct market because sometimes it could take a bit to close down a deal and you have to eat between.

AGLA does a good job though from what I understand they don't touch accounts under ten with Section 125's. Plus they charge for them after the first year, Aflac does it for free for the entire duration that a business is active, and even then the Sec 125's are generic so as long as they don't add something totally new, such as something not on the orginal paperwork (they can switch providers though), they are in compliance.

If you like AGLA and are making good money, then keep it going. If you want to expand outside you can go with Aflac or Colonial and then get appointed to other companies that do Health or straight up life stuff.

I like AGLA, but then there are some things I don't like. I soooooo wish I had a major medical to sell, because people always ask me about it. I'm actually a little behind on my contract validation (only about 1000 AP), but that is going to get deeper because I know nothing will be written next week. If I don't validate my contact, I can only make money on what I submit (as in no commission pool to get paid from), and only get a commission with no bonus. I'd have to write like 1500/wk just to get by in that case. I can honestly say that I don't expect to write 1500/wk. Maybe 1000-1200/wk. So, if I don't validate here, I will probably just go back to a "real" job and get appointed with a couple of companies and try to sell on the side to at least leave the option open of getting back in the business.

 

[arnguy]

James, I am confused. You refer to Child Care and Transportation spending accounts as Sec. 521 plans. Sec. 521 of the Internal Revenue Code is titled "Exemption of Farmer's Cooperatives from Tax." However, Sec. 132(f) IRC refers to the "Qualified Transportation Fringe" and sets forth the regulations therein. "Dependent Care Assistance Programs" are addressed in Sec 129 IRC. And Health Care Reimbursement Plans (HRAs)are covered in Sec. 105 IRC. Where does Sec. 521 IRC come into play?

 

[Martian]

Arnguy I believe that was a little dyslexia on his part 521 backwards is 125.

Survivor I had 3,200 in AP come out of an orphaned account I found today.

 

[Survivor]

Arnguy I believe that was a little dyslexia on his part 521 backwards is 125.

Survivor I had 3,200 in AP come out of an orphaned account I found today.

Not too shabby for an orphan!

 

[James]

James, I am confused. You refer to Child Care and Transportation spending accounts as Sec. 521 plans. Sec. 521 of the Internal Revenue Code is titled "Exemption of Farmer's Cooperatives from Tax." However, Sec. 132(f) IRC refers to the "Qualified Transportation Fringe" and sets forth the regulations therein. "Dependent Care Assistance Programs" are addressed in Sec 129 IRC. And Health Care Reimbursement Plans (HRAs)are covered in Sec. 105 IRC. Where does Sec. 521 IRC come into play?

Yea, what the martian said! Dyslexia, hummmm, if I didn't have enough problems now I have to overcome dyslexia!

 

[2112Greg]

Alright Martian...nice job!

 

[Martian]

Alright Martian...nice job!

My regional manager was "asked" to step down and a new one was promoted as of January 1st. The new one has not started officially yet but now I suddenly have orphaned accounts that I found months ago assigned to me. That was one of them...

 

[arnguy]

Thanks for the clarification, Martian. I had suspected that it may have been dyslexia after I posted, but the benefits James stated are addressed in Sections 132(f) and 129 of the code. Section 125 deals with "cafeteria plans" and FSAs, not Transportation and Child Care.

 

[Martian]

Because Section 125 is part of the tax code that we deal with, and many agents don't know the name of the entire part, they tend to call the entire code section 125. It's a common mistake.