Don't expect a big commision check from Coventry with week

[Non-golfing Agent]

From What I understand there will be no first year commisions on cases that are comming from another carrier. For example if your client moves from anthem to coventry. If any one has any clarification on this please let me know.

Jason

It counts as a renewal. So half first year commish.

 

[patch36]

From What I understand there will be no first year commisions on cases that are comming from another carrier. For example if your client moves from anthem to coventry. If any one has any clarification on this please let me know.

Jason

I am relatively certain that is not the case. Not sure where you are getting your info, but that is the first time I have seen that interpretation.

Humana has had their revised commissions turned down by CMS and have reverted back to the $160/$320 scenario that they had originally submitted to CMS. I have the email that

Anyone who makes their entire or majority of their living from MA's should have figured this out a month or two ago...it is over. At best this is a supplemental income that may also offer some cross-selling opportunities.

 

[///MJay]

I don't focus on the MA plans, so I am not familiar with any one other than coventry. I recieved an email from Senior Market Sales that no first year commision would be payed on existing medicare benificiaries switching companies. I was concerned and the guy on the other end of the phone at coventry said that is the case. He made no mention of paying it is a renewal. I called in to the sales line on the broker page of there website. I called in because I still haven't recieved my AWN cards from the first week in nov. cert date. I hope you are right that they pay something. All the MA I have submitted this year have been new enrollements but a fellow rep of mine has done several that are not.

Jason

 

[Russ]

I am relatively certain that is not the case. Not sure where you are getting your info, but that is the first time I have seen that interpretation.

Humana has had their revised commissions turned down by CMS and have reverted back to the $160/$320 scenario that they had originally submitted to CMS. I have the email that

Anyone who makes their entire or majority of their living from MA's should have figured this out a month or two ago...it is over. At best this is a supplemental income that may also offer some cross-selling opportunities.

Yeah...you're correct about Humana....

$13.33 per member per
month ($160 annually)

I haven't written MA plans(focus on supplements). I assume they don't even advance....6 or 9 or 12 months commission and only pay monthly?

 

[patch36]

I don't focus on the MA plans, so I am not familiar with any one other than coventry. I recieved an email from Senior Market Sales that no first year commision would be payed on existing medicare benificiaries switching companies. I was concerned and the guy on the other end of the phone at coventry said that is the case. He made no mention of paying it is a renewal. I called in to the sales line on the broker page of there website. I called in because I still haven't recieved my AWN cards from the first week in nov. cert date. I hope you are right that they pay something. All the MA I have submitted this year have been new enrollements but a fellow rep of mine has done several that are not.

Jason

First year business that is moved from another MA plan is going to be paid at the renewal rate, which from all that I have seen, is half of the rate paid for new to MA business. New to MA business will be paid at the renewal rate and a few months later there will be a reconciliation and you will get the other half of the commission. In a perfect world this is what is supposed to happen. Remember, that CMS has not approved sh*t, so it is tentative.

 

[theinuranceguy]

MOST companies wait until the after AEP to pay comp. The fact that Coventry is paying anything shows they are pretty solid. One out of 45 is better than none out of 45.

Ive written a lot this year with Coventry but havnt called in to see what Ill get paid, Im sure Ill get paid sometime.

As of 8:20 PM on Dec 5th I havnt seen a deposit in my account from them...

 

[GreenSky]

MOST companies wait until the after AEP to pay comp. The fact that Coventry is paying anything shows they are pretty solid. One out of 45 is better than none out of 45.

Ive written a lot this year with Coventry but havnt called in to see what Ill get paid, Im sure Ill get paid sometime.

As of 8:20 PM on Dec 5th I havnt seen a deposit in my account from them...

I set it up so they pay me for your enrollments. Works out great for me. It's a win-win situation. I win and win some more.

Rick

 

[midwestbroker]

From what I understand is that Coventry will release it's commissions next week (heard that before). Then checks will be released.

 

[MedSuppPro]

[FONT=&quot]As I posted a couple of weeks ago: I wonder how many agents understand that renewal level commissions are paid on any replaced Medicare Part C and or D plans?

How many agents understand this? Well, I asked a room full of 38 agents and none of them knew about the renewal commissions being paid for Medicare plan replacements. None!!! And they started to get angry at Joe-the-Carrier-Trainer-Dude when I brought up the 5 year Rent-A-Agent CMS clause.

Rent-A-Agent: You get the opportunity to serve your client for up to 5 years and then CMS will notify the carrier that you are no longer eligible to receive a commission for your client recommendations. Think about that consumer friendly pull the rug rule out from underneath your long-term relationship rule. Way to go CMS! That took some brains![/FONT]

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[senior-advisor-indiana]

OMG!! We don't get 1st year commish on replacements? Did you just come out of a coma Mjay? I thought we had this figured out a month ago?
I have no deposits from Coventry yet either. I figue it will be another week or two. Glad I write FE and med supps too.