Is this Correct?

Jul 17, 2008

  1. TonyC
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    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?
     
    TonyC, Jul 17, 2008
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  2. InsuranceJosh
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    seems way high. Who does the GA say that it is with?
     
  3. xrac
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    My reaction on those numbers is "no way".
     
    xrac, Jul 17, 2008
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  4. patch36
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    bullsh*t
     
    patch36, Jul 17, 2008
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  5. jdeasy
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    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.
     
    jdeasy, Jul 17, 2008
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  6. GreenSky
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    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
     
    GreenSky, Jul 17, 2008
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  7. AgentBartlett
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    What plan is that????
     
  8. InsuranceJosh
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    UHC only pays FMOs $525 not $700-800.
     
  9. GreenSky
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    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
     
    Last edited: Jul 17, 2008
    GreenSky, Jul 17, 2008
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  10. GreenSky
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    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
     
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