Getting paid one month commission on med supp?

[jack3454]

I put in a Med supp app for Aetna, for dec 1 effective, new to medicare and I got paid for one month (December). Is this how it works with Med Supp? When I did the calculation it should have been 20% of the annual premium which was $390. Any ideas?

 

[axeman462]

is your contract set up to be paid "as earned"?

 

[jack3454]

is your contract set up to be paid "as earned"?

Ohh good question...I'll have to inquire about this.

Barring that being true, is there any other reason why I should have only gotten one month payment?

 

[axeman462]

Ohh good question...I'll have to inquire about this.

Barring that being true, is there any other reason why I should have only gotten one month payment?

I can't think of any other reason, unless Aetna just doesn't pay advances on that particular policy. Either way, the answer should be in your contract/commission schedule with Aetna.

 

[goillini52]

Ohh good question...I'll have to inquire about this.

Barring that being true, is there any other reason why I should have only gotten one month payment?

Check with your FMO to see if you 're as earned or advanced.

 

[rmhaire]

Check with your FMO to see if you 're as earned or advanced.

That plus the fact that most supp companies only advance nine months with the other three held back and paid as earned.

I think ACE advances 12 months but don't hold me to it. I'm on as earned with all of mine.

 

[goillini52]

That plus the fact that most supp companies only advance nine months with the other three held back and paid as earned.

I think ACE advances 12 months but don't hold me to it. I'm on as earned with all of mine.

Yes, ACE is 12 months.