Eventually all Medicare non Commissionable
- Thread starter Robduq23
- Start date
ValeRosso
Guru
- 585
So I have a friend who has been in the Medicare business for two decades who recently sold his book. One of the reasons was because he believed commissions will be eventually cut severely to the point people would be better off applying through the carrier themselves, because the plans that will still offer commissions are going to be garbage and no one would reasonably write them anyways.
He could be right, could be wrong...but only time will tell.
He could be right, could be wrong...but only time will tell.
U65 health insurance carriers cut commissions drastically in 2014. They thought they would not need brokers since health insurance was mandatory. They figured the government would feed them prospective policyholders and they could service everything in house.
They soon figured out they shot themselves in the foot and they actually NEEDED brokers.
MA is bought. Medigap is sold.
They soon figured out they shot themselves in the foot and they actually NEEDED brokers.
MA is bought. Medigap is sold.
What the problem is a full 100-150% above agent commissions is going to overrides and marketing money . Think about that . People who have zero work in getting the client are costing carriers 150% above the comp paid to the agent who secures the business . Just like the fmo’s threw the agent under the bus to keep their overrides they’ll take the agent overall down the tubes .
Special Agent
Guru
- 377
Malarky.You have now idea what its like to have to reprogram and educate a prospect who has only heard negative things about MA from dingleberry self serving med supp slingers.Had one today who was dead set on buying a med supp and i was going to accommodate him but like any good agent i wanted to probe and find out why so negative so negative on MA and he said that it because his doctors who participate in his current employer HMO plan told him not to get and from the videos he has seen on youtube by numbskull low IQ agents who don't understand anything other then a policy that pays 20% after medicare pays 80%.I asked if his docs said anything negative about his current employer hmo and he said no and once he realized MA is just a managed care like he currently has but for medicare it clicked.He may still buy a med supp but at least i did my job explaining the rest of the story unlike some agents.
Damn. Not the way I would have responded. You must be feeling extra mellow this morning.
- Thread starter
- #8
What do you do for those who can’t afford supplements?
What???
So what you are saying is if someone feels there supplement is expensive you can say that?
or are you talking about people who do not have Medicare yet?
You certainly would not be talking about people who already have MA because that is a weird argument
I almost never run into someone who says they can't afford a supplement plan. I rarely get objections, and when they come up it is more because they don't want to pay the premium vs affordability.
On the rare occasion when they do say it's not in their budget, I ask if they could afford to pay a "surprise" bill of $500 . . . $1,000 or more.
If they say they can't, or won't pay, rather than extending the discussion I refer them to a friend who can enroll them in an MA plan.
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