Double Commission?

[Vanessa Solano]

If I enroll someone who is new to Medicare to a MAPD plan effective 8/1 and in a few months they call me and want to switch to a different plan with another carrier, would I get commission for both enrollments or just the original one?

 

[myinsurebiz]

If I enroll someone who is new to Medicare to a MAPD plan effective 8/1 and in a few months they call me and want to switch to a different plan with another carrier, would I get commission for both enrollments or just the original one?

If they have a 8/1 effective, unless they are Dual / SNP or have a SEP, they would have to wait till AEP to switch for a 1/1 effective.

 

[Vanessa Solano]

If they have a 8/1 effective, unless they are Dual / SNP or have a SEP, they would have to wait till AEP to switch for a 1/1 effective.

I understand. I am more so wondering about how the commission would work.

 

[myinsurebiz]

you'll get a charge back on the old, and get paid on the new

With it being a 8/1 effective and client keeps for a "few months", unless a D/SNP, they would have to wait till AEP - correct?

And if it was a D/SNP - they can switch once a Quarter and if so - then would be chargebacked the unearned pro-rated amount - correct?

She would keep the True Up part correct?

 

[Vanessa Solano]

Just to clarify, its not a D/SNP and most likely it would happen during AEP for a 1/1 effective date.

 

[myinsurebiz]

Just to clarify, its not a D/SNP and most likely it would happen during AEP for a 1/1 effective date.

Shouldn't be a commission issue then if the 8/1 effective was pro-rated.

 

[Vanessa Solano]

Shouldn't be a commission issue then if the 8/1 effective was pro-rated.

the 8/1 effective is not prorated, he is brand new to MAPD

 

[myinsurebiz]

the 8/1 effective is not prorated, he is brand new to MAPD

Some carriers would pay you the pro-rated commission for August thru December and then a few weeks later pay you the True Up commission.

 

[Vanessa Solano]

My original question clearly has no answer. Good night all!

 

[Chazm]

It does. Here’s s how it most likely would work

You would first get paid for the initial amount immediately, let’s say $100. Then, depending on the company you get paid the true up ($382 remaining amount) in a few weeks after.

Then let’s say on Nov 10 the client decides to switch to a new company on 1/1.

So you really only earned about $200. So $282 is charged back.
Then in January you’ll get paid the new renewal amount ($250?) for all of 2020.

You actually lose money in this situation. The $32 difference plus the monthly renewals you would have earned monthly in Jan.