Health Insurance Commissions

[AboutThatLife]

There is no catch-all thread for this here so I figured I would start one.

When dealing with government sponsored health insurance like Original Medicare, Medicaid, Medigap, Medicare Advantage, and the Health Exchange what are the general commissions like?

 

[scagnt83]

There is no catch-all thread for this here so I figured I would start one.

When dealing with government sponsored health insurance like Original Medicare, Medicaid, Medigap, Medicare Advantage, and the Health Exchange what are the general commissions like?

Medicaid pays no comp as there is no product for agents to sell.

Individual Health Insurance pays anywhere from nothing up to around 5%. There might be literally 1 or 2 states that have carriers still paying in the 10% range. Group is now based on the number of employees enrolled, average is $15-$25 per enrolled employee per month. Health Insurance is extremely state specific and now even carrier specific.

Medicare pays no comp since it is not a product that agents sell.

MedSupps pays around 20% with level renewals.

MedAdvantage I think is around 20%-30% range.


If you want to learn more about MedSupps and MedAdvantage, I suggest reading over the Senior Forum here on the site.

If you want to learn about the current status of health insurance, read the health reform forum. Lots of talk about comp there (or lack of comp being paid).

 

[AboutThatLife]

Medicaid pays no comp as there is no product for agents to sell.

Individual Health Insurance pays anywhere from nothing up to around 5%. There might be literally 1 or 2 states that have carriers still paying in the 10% range. Group is now based on the number of employees enrolled, average is $15-$25 per enrolled employee per month. Health Insurance is extremely state specific and now even carrier specific.

Medicare pays no comp since it is not a product that agents sell.

MedSupps pays around 20% with level renewals.

MedAdvantage I think is around 20%-30% range.


If you want to learn more about MedSupps and MedAdvantage, I suggest reading over the Senior Forum here on the site.

If you want to learn about the current status of health insurance, read the health reform forum. Lots of talk about comp there (or lack of comp being paid).

Thanks I was thinking of adding the service of enrolling clients for Medicare/Medicaid but I guess there is no use.

The group seems like its potentially the most lucrative from a time/reward standpoint. Is there a lot of servicing on those contracts?

Thanks for the answer, I will check out the health care reform forum to hear all of the "woe is me" tales. I was trying to stay upbeat since I just got my health license as a door opener for new businesses to talk about life insurance.