How you track commissions?

[newbie2001]

Hey everyone, please don't try to sell me a commission-tracking subscription. Yes, I've seen it already.

This was my first real "renewal season" this year and I of course had some movement within my book.

I did not realize that even if a member went from one plan to another within a company the entire commission was paid upfront and not pro-rated. I personally prefer the pro-rated commission on renewals because it makes it easier to budget.

How do you track who you've been paid for the entire year already, who is pro-rated, etc. I tried this within my CRM by using "same carrier" "new carrier" columns but failed to realize the plan 2 plan change that paid full comp up front.

Thanks.

 

[DonP]

Hey everyone, please don't try to sell me a commission-tracking subscription. Yes, I've seen it already.

This was my first real "renewal season" this year and I of course had some movement within my book.

I did not realize that even if a member went from one plan to another within a company the entire commission was paid upfront and not pro-rated. I personally prefer the pro-rated commission on renewals because it makes it easier to budget.

How do you track who you've been paid for the entire year already, who is pro-rated, etc. I tried this within my CRM by using "same carrier" "new carrier" columns but failed to realize the plan 2 plan change that paid full comp up front.

Thanks.

It's very very difficult to track all this . I keep track of my total renewals each month and my disenrollments . So if my total renewals fall like let's say from 100 to 98 in the next month I compare against my disenrollments . If I can't find it dig deeper .i don't worry about little things . I just keep writing more . If you become obsessed with tracking this are that it becomes a huge distraction

 

[newbie2001]

It's very very difficult to track all this . I keep track of my total renewals each month and my disenrollments . So if my total renewals fall like let's say from 100 to 98 in the next month I compare against my disenrollments . If I can't find it dig deeper .i don't worry about little things . I just keep writing more . If you become obsessed with tracking this are that it becomes a huge distraction

Yeah just trying to see what my monthly income is going to be. Guess I could just budget by taking my annual divide by 12 and only spend that amount per month.

 

[InsuranceGuy29]

Hey everyone, please don't try to sell me a commission-tracking subscription. Yes, I've seen it already.

This was my first real "renewal season" this year and I of course had some movement within my book.

I did not realize that even if a member went from one plan to another within a company the entire commission was paid upfront and not pro-rated. I personally prefer the pro-rated commission on renewals because it makes it easier to budget.

How do you track who you've been paid for the entire year already, who is pro-rated, etc. I tried this within my CRM by using "same carrier" "new carrier" columns but failed to realize the plan 2 plan change that paid full comp up front.

Thanks.

I wish I had a good answer but I don't. I just log on to each carrier every few months and look to see if there were any disenrollments.

I also agree with the pro-rated. I had a ton of people on a certain carrier's plan.

They then made a new plan, sent out a ton of fliers, and I was getting calls left and right of people that wanted to switch. It was such a pain in the rear end.

I built up all that monthly commission and then it was all gone and I received the total commission in January…..

Which is not something I like, as the money goes way quicker with me when this happens.

I'd much prefer if they just kept it all with us getting paid every month.

 

[DonP]

I wish I had a good answer but I don't. I just log on to each carrier every few months and look to see if there were any disenrollments.

I also agree with the pro-rated. I had a ton of people on a certain carrier's plan.

They then made a new plan, sent out a ton of fliers, and I was getting calls left and right of people that wanted to switch. It was such a pain in the rear end.

I built up all that monthly commission and then it was all gone and I received the total commission in January…..

Which is not something I like, as the money goes way quicker with me when this happens.

I'd much prefer if they just kept it all with us getting paid every month.

Bingo you're not alone . That's the downside . Renewals for agents with good sized books will be falling in 2025 as we got more upfront money . That's what changed this aep vs the last 8 or more . Before just let the plans roll month to month . If this happens again in 2026 It's going to suck . Means the renewal train of past is in jeopardy . But we need to monitor what carriers do with commissions . There's was substantial push of non commissions introduced the 2nd week of aep . More smaller carriers followed throughout aep . We'll see throughout 2025 whether other carriers pop up and want no more business this yr . Also we'll see if carriers pull back hard on commissions starting 2026 aep . Lot up in the air

 

[axeman462]

Bingo you're not alone . That's the downside . Renewals for agents with good sized books will be falling in 2025 as we got more upfront money . That's what changed this aep vs the last 8 or more . Before just let the plans roll month to month . If this happens again in 2026 It's going to suck . Means the renewal train of past is in jeopardy . But we need to monitor what carriers do with commissions . There's was substantial push of non commissions introduced the 2nd week of aep . More smaller carriers followed throughout aep . We'll see throughout 2025 whether other carriers pop up and want no more business this yr . Also we'll see if carriers pull back hard on commissions starting 2026 aep . Lot up in the air

Although I got a nice lump some already this January, my renewals will be higher in 25, like it has been for the past 13 years.

 

[kgmom219]

Spreadsheet from hell in January.
Then based on the amount of the deposit monthly for Over 65 the rest of the year, but I am at 99% autodraft on O65.
Group and Under 65-Checked monthly against the spreadsheet to confirm payment.

 

[rmhaire]

Although I got a nice lump some already this January, my renewals will be higher in 25, like it has been for the past 13 years.

It's those damn unicorns

 

[DonP]

Although I got a nice lump some already this January, my renewals will be higher in 25, like it has been for the past 13 years.

Then your in an area with little change which is rare, got a lot of med sups , too lazy to move your book . If 2 or 3 somebody will move them for you oep. I read 60% of people moved this aep yet your immune

 

[kgmom219]

Then your in an area with little change which is rare, got a lot of med sups , too lazy to move your book . If 2 or 3 somebody will move them for you oep. I read 60% of people moved this aep yet your immune

60% of Med Supp clients moved their Med Supp?