Does anyone really get "rich" selling Medicare

[sshafran]

@Chazm, does UHC have community rating in FL?


On another topic in this thread, there was an agent on the forum a few years ago, former drummer, that was pushing his "system" to get rich.

He was also a motivational speaker.

Don't recall his name or handle, but he flamed out pretty quickly.

It was Rob Liano and he didn't flame out. He was/is a nice guy.

 

[Chazm]

@Chazm, does UHC have community rating in FL?


On another topic in this thread, there was an agent on the forum a few years ago, former drummer, that was pushing his "system" to get rich.

He was also a motivational speaker.

Don't recall his name or handle, but he flamed out pretty quickly.

in Fl we we are about 99% issue age. I haven’t seen community rating here. And uhc doesn’t have the discount or rate change that they do in other states. I’m not sure what they call it.

 

[somarco]

I believe the 30% discount is only used in community rated states.

 

[Special Agent]

in Fl we we are about 99% issue age. I haven’t seen community rating here. And uhc doesn’t have the discount or rate change that they do in other states. I’m not sure what they call it.

since 1992 i have never seen anything but issue age in Florida for any carrier .In some states UHC has a big discount if coverage taken at 65 then discounts reduces each year .They don't call it attained age in the contract as far as i could see but that what is effectively.Never have actually written med supp outside of Fl and Ga. so not real familiar with all the ins and outs of this pricing


"Medigap coverage can be priced in one of three ways: community rating, issue-age rating, or attained-age rating. As of 2018, eight states (Arkansas, Connecticut, Massachusetts, Maine, Minnesota, New York, Vermont, and Washington) required carriers to use community rating. The remaining states were simply listed as not requiring community rating, thus leaving it up to the insurer to allow for any rating type, including issue-age or attained-age."

Enrollment options by state | medicareresources.org

Learn about Medicare private plan availability, pricing and regulation in each state, plus state enrollment in Medicare Advantage, Medigap and Part D plans.

www.medicareresources.org

 

[UKTX]

Every agent you speak to makes "hundreds of thousands a year" (apparently).

But the national average is $65k per year.

 

[renee15]

My point being, that even if you were to say achieve a remarkable client base of 1,000 individuals you're only making $300,000 a year and having to service all of these people.

I'm all ears on how you fit 500 (for example) clients into your schedule during AEP. It's impossible. Most of mine want to meet in person --at their home, since I gave up my office last year. If you want to send them links/quotes, they call people like me who will provide personal experience.

 

[rmhaire]

I'm all ears on how you fit 500 (for example) clients into your schedule during AEP. It's impossible. Most of mine want to meet in person --at their home, since I gave up my office last year. If you want to send them links/quotes, they call people like me who will provide personal experience.

Mine won't

 

[LostDollar]

Every agent you speak to makes "hundreds of thousands a year" (apparently).

But the national average is $65k per year.

Caveat, not an agent.

In another thread, @Duaine posted a link to a video about Part D computations. One of the things the presenter specifically talked about was the computation of averages and how they related to actual Medicare Beneficiary Part D premiums.

If the failures at selling Medigap, PDP, and MA are as bad as some posters would have forum members believe, after seeing that discussion on Part D premiums and "averages", it seems believable to me that there would agents that make 6 figure incomes in computations yielding $65K average agent earnings.

 

[hockeyday]

Mine won't

Won't what

 

[Bevo]

questions what are you making at your w2 job per year, 2. Why do you need an office? I will say this with all of the changes coming in 2025 in terms of agent comp it will become harder to make the same amount of money, if I was starting over I would build my aca book as big as I could, most people don't understand that there are more people on aca plans than Medicare

And all those people will T65 one day, so good thinking. I'm waiting until after the election to see what type of legs ACA will continue to stand on, but if no huge changes we're adding that vertical to our marketing process.