Fair MAPD Commission split

[20th Maine]

Due to a goof up by my DM lead supplier, I have 3X the normal number of leads. And leaving for two week vacation the 28th

Seniors dont remember sending in the cards, sometimes even just a week after they mail it. If it takes me a month they will never remember and assume thats the end of the convo ( "No I never sent in no danged card!") So (IN MY EXPERIENCE) if you don't get to them in a week or two your chances of a sale drop precipitously

There are a couple of brokers that I can share them with--was thinking of offering the leads no cost to them and 50/50 split on anything they write. One of them was kind enough to help me do a couple of AEP meetings when my normal AEP partner was sick and he did a great job.

So with the normal Forum assumption that I've done everything wrong etc etc aside so don't need to hear that--is that an offer that would interest you?

THANKS in advance for your constructive help!

 

[Chazm]

Seems like something I’m sure a person unable to buy leads would jump on. No out of pocket cost. I’m assuming you wouldn’t split renewals.

 

[goillini52]

Due to a goof up by my DM lead supplier, I have 3X the normal number of leads. And leaving for two week vacation the 28th

Seniors dont remember sending in the cards, sometimes even just a week after they mail it. If it takes me a month they will never remember and assume thats the end of the convo ( "No I never sent in no danged card!") So (IN MY EXPERIENCE) if you don't get to them in a week or two your chances of a sale drop precipitously

There are a couple of brokers that I can share them with--was thinking of offering the leads no cost to them and 50/50 split on anything they write. One of them was kind enough to help me do a couple of AEP meetings when my normal AEP partner was sick and he did a great job.

So with the normal Forum assumption that I've done everything wrong etc etc aside so don't need to hear that--is that an offer that would interest you?

THANKS in advance for your constructive help!

This belongs in the offers section...but wait, you don't have enough posts. Sounds like you need to work on your aapproach if you're having that much trouble with every lead.

Sounds like you better start working more hours to work those extra leads, because I can't imagine very many would split the commissions off your free leads with you. They can do better than that at an MLM.

It really doesn't matter how old those DM leads are, especially since they can't remember sending them in anyway.

 

[somarco]

How will you know if the lead buys or not? I don't see a way to have accountability for what happens once the lead leaves your hands.

Unless things have changed, DM leads are "old" even when you get them. Usually at least 7 - 10 days between when the suspect filled in the lead card and when you get it.

This is not my definition of a "fresh" lead.

What does it matter if you call 10 days after they returned the card and 3 weeks later?

I don't do direct mail but I have heard that some agents start calling a few days after the lead card is mailed. They call everyone on the list, not just those who returned the lead.'

If someone is hot to buy they will probably buy from the agent that essentially cold called them vs the agent that calls the day the agent receives the lead card.

 

[axeman462]

Ive done deals like this before. Obviously negotiate the best deal for yourself, because you know thats what the other guy is gonna try to do.
Also, make sure you trust the guy, because it is ultimately the honor system.
That being said, previous deals ive done like this turned out like this :

- $100 referal fee for each sale.

- i gave the agent the entire FYC for the lead, then i kept all the renewals

- took entirety of deal , then paid the agent back down the road by kicking a few deals his way. (This one actually led to a remarkably profitable business relationship for me)

Great thing about negotiations are, there are no boundaries. Have fun with it.
if you protect your downside risk, the rest will take care of itself.

 

[Vandenberg]

Based on CMS regulations, splitting commissions is not allowed on MA / MAPD / PDP plans. There are also guidelines on how much you can pay for referral fee's as well.

You should do a bit more research on this topic before implementing anything. Making a few extra dollars is not worth getting your license suspended or revoked.

 

[Vandenberg]

Here's a link to the Medicare Marketing Guidelines for 2018:
https://www.cms.gov/Medicare/Health...Medicare-Marketing-Guidelines_Final072017.pdf

 

[bill3173]

This is kind of interesting, I can't understand why anyone would split commission for a lead. You can purchase leads for a fraction of that amount.

Now, I did have a guy on here make a private offer to me during Ocare season that was illegal, so I didn't reply to him, but that was more of a "done deal" type of thing. I would have to be really messed up to have taken him up on it, but that's another story.

 

[sshafran]

Due to a goof up by my DM lead supplier, I have 3X the normal number of leads. And leaving for two week vacation the 28th

Seniors dont remember sending in the cards, sometimes even just a week after they mail it. If it takes me a month they will never remember and assume thats the end of the convo ( "No I never sent in no danged card!") So (IN MY EXPERIENCE) if you don't get to them in a week or two your chances of a sale drop precipitously

There are a couple of brokers that I can share them with--was thinking of offering the leads no cost to them and 50/50 split on anything they write. One of them was kind enough to help me do a couple of AEP meetings when my normal AEP partner was sick and he did a great job.

So with the normal Forum assumption that I've done everything wrong etc etc aside so don't need to hear that--is that an offer that would interest you?

THANKS in advance for your constructive help!

Don't let your own head get in the way. You are hearing conversations that may not happen. Especially if it's T65 - that's a long game and some of them don't make decisions until the week before their Medicare start date.

Rather than give up 50% of your comp - I'd highly recommend working the leads as if it's fresh.

If a lifetime value of a med supp customer is $1,800, then you are giving up $900 per sale - and if there are a lot of leads, there may be a lot of sales, but let's just call it 10 sales.

Doing the math - that's a $9,000 mistake you are making by not working the leads when you get back from your vacation. Out of the 10 potential sales, I can almost guarantee that you won't lose enough of those because of the delay to justify giving up 50%.

Of course, if you can find a sucker agent to work leads for 50% first year comp where you keep renewals then maybe it's cool - but I don't see any reasonably successful agent touching free leads for 50% first-year-only comp.

 

[sshafran]

PS - I'd also agree with the others who mentioned that MAPD comp splitting is a no-no. You can do $100 referral fee for an MAPD. Well, the agent who sells it gets the full comp and can pay you $100. Now that's a really bad deal for you.