Is this Correct?

[TonyC]

I was talking to a GA yesterday who told me that he gets about $1100 for selling a Medicare advantage plan to an individual.

He also said that i would get paid about $700 to sell and close a Medicare Advantage Plan.

These numbers seem high...is this correct?

 

[InsuranceJosh]

seems way high. Who does the GA say that it is with?

 

[xrac]

My reaction on those numbers is "no way".

 

[patch36]

bullsh*t

 

[jdeasy]

I was talking to a GA yesterday who told me that he gets about $1100 for selling a Medicare advantage plan to an individual.

He also said that i would get paid about $700 to sell and close a Medicare Advantage Plan.

These numbers seem high...is this correct?

The most I get for any MA is $420. The most I've been offered by any GA to work for them is $450. I've never even had an agent mention that they could get more than $450.

Of course, if the agent gets $450, the GA is getting something and the FMO. I would still doubt that there is $1100 there for all 3 combined.

 

[GreenSky]

There are some regional MA plans that pay a fortune and in general, commission in California may be higher than elsewhere.

I know of one MA plan that pays their brokers $700 plus I think a bonus of $150 right now. If the "street" is $850, then the FMO could certainly gross $1,100.

UHC must pay their FMOs about $700-800 based upon the contracts that I've seen - and they are an "actual" company. I would not be surprised if some of the small regional players trying to gain a foothold pay $1,000+.

Rick

 

[AgentBartlett]

There are some regional MA plans that pay a fortune and in general, commission in California may be higher than elsewhere.

I know of one MA plan that pays their brokers $700 plus I think a bonus of $150 right now. If the "street" is $850, then the FMO could certainly gross $1,100.

UHC must pay their FMOs about $700-800 based upon the contracts that I've seen - and they are an "actual" company. I would not be surprised if some of the small regional players trying to gain a foothold pay $1,000+.

Rick

What plan is that????

 

[InsuranceJosh]

There are some regional MA plans that pay a fortune and in general, commission in California may be higher than elsewhere.

I know of one MA plan that pays their brokers $700 plus I think a bonus of $150 right now. If the "street" is $850, then the FMO could certainly gross $1,100.

UHC must pay their FMOs about $700-800 based upon the contracts that I've seen - and they are an "actual" company. I would not be surprised if some of the small regional players trying to gain a foothold pay $1,000+.

Rick

UHC only pays FMOs $525 not $700-800.

 

[GreenSky]

UHC only pays FMOs $525 not $700-800.

In California, which I pointed out had higher contracts, the street level for MA plans is $550. The GA contract is $610. There are 3 levels above GA ending with FMO. So I'm pretty sure my guess at 700-800 (at least here in CA) is correct.

The agent contract elsewhere is $400 so if the math still works, the FMO still is at $550-600.

Rick

 

[GreenSky]

What plan is that????

Unless you are located in Southern California and specifically are looking for duals, it's moot.

Anyway, all this will change shortly. Can we all be happy with $25 per month?

Rick