Lead! Sell Group Insurance to My Office

[Josh]

if you are insulted why even bother responding, half the comission is better than none.

Not to dog-pile on you here, but even if I had a FL license I wouldn't want to deal with the headache of splitting the couple of bucks with you. You already sound needy and demanding. Now if you said you had a 20 person group and you were all at least 50, then the conversation might be a little different.

Not for nothing, but most carriers will make you get contracted to do a commission split which would require you getting e&o. So $75/month/2 = $37.50/month or about $400/year which is about the cost of e&o. So if you're not active, why bother? Why not just be a dentist?

Also, yes there is the need to be rude. Why not just call up a local agent and make his day? Just lookup Insphere Solutions and you should be good to go.

 

[dgoldenz]

Not to dog-pile on you here, but even if I had a FL license I wouldn't want to deal with the headache of splitting the couple of bucks with you. You already sound needy and demanding. Now if you said you had a 20 person group and you were all at least 50, then the conversation might be a little different.

Not for nothing, but most carriers will make you get contracted to do a commission split which would require you getting e&o. So $75/month/2 = $37.50/month or about $400/year which is about the cost of e&o. So if you're not active, why bother? Why not just be a dentist?

Also, yes there is the need to be rude. Why not just call up a local agent and make his day? Just lookup Insphere Solutions and you should be good to go.

Zing. Good stuff.

 

[vphealth]

Not to dog-pile on you here, but even if I had a FL license I wouldn't want to deal with the headache of splitting the couple of bucks with you. You already sound needy and demanding. Now if you said you had a 20 person group and you were all at least 50, then the conversation might be a little different.

Not for nothing, but most carriers will make you get contracted to do a commission split which would require you getting e&o. So $75/month/2 = $37.50/month or about $400/year which is about the cost of e&o. So if you're not active, why bother? Why not just be a dentist?

Also, yes there is the need to be rude. Why not just call up a local agent and make his day? Just lookup Insphere Solutions and you should be good to go.

wow, i posted here because i had registered before and had a good experience so i thought i would start here. so you feels that justifes rude answers? i am sorry that there are so many bitter people here. Hope you have a better day tomorrow.

 

[Josh]

wow, i posted here because i had registered before and had a good experience so i thought i would start here. so you feels that justifes rude answers? i am sorry that there are so many bitter people here. Hope you have a better day tomorrow.

To be honest I don't know that anyone's been rude to you as much as they've been direct. It's not worth it to split a case of 3-5 employees that are all young. It's not a bitter thing so much as business is business. Like I said, call up a local guy and make his day, but again, it's a joke to do a commission split on such a small case. Now if you wanted to do key man life policy or long term care or a bigger ticket item then it might be worth it to give away a chunk of the commissions, but not on a little group plan. I believe YouGotMyMoney is in your state, but I doubt he'd do a split.

Again with the split, you should be appointed with the carrier if you're doing it legit and you'll need ~$400/year e&o to get appointed. So riddle me this, is it worth it to pay $400/year to take $400/year from the guy who actually wrote the policy? More to point, if I recall the comp ins florida it's sometimes as low as $5/pmpm or less which I think would work out closer to $25/month. Do you really want a check for $12.50/each month vs. being taken seriously? Again, not being rude, but business is business.

 

[Full Throttle]

hi. i'm out of the business, but still have an active license, so i want to share comission. i own a dental office, want group health insurance that includes maternity. i am the oldest, at 35. everybody is healthy. please contact me at flamingodentaldesign at gmail to quote. need policy to have maternity, minimum 3 people, possibly 5. thanks.

No reason for anyone to be insulted, it's an offer, this is a country where capitalism still rules (for now), take it or leave it. I'm not a FL agent, but if I was, I would take it under the right circumstances (you'll do most of the legwork tracking down applications and you were willing to work via phone/internet conferencing).

That being said, I tend to agree with the others:
$35/month revenue isn't worth taking on a small group if you are actually going to service it beyond the initial set-up (shop at renewal, state continuation admin, handle employee questions, send you a 1099 if necessary, ect).

Again with the split, you should be appointed with the carrier if you're doing it legit and you'll need ~$400/year e&o to get appointed.

I work with a number of other agents not focused on health business, most of the carriers have minimum production that only a full time health broker can meet (at least without a large book). As a result, I typically write the business in my name, send them a check, and 1099 them at the end of the year. This would get around the E&O issue. Legal in my state, no idea about FL.

 

[Josh]

I work with a number of other agents not focused on health business, most of the carriers have minimum production that only a full time health broker can meet (at least without a large book). As a result, I typically write the business in my name, send them a check, and 1099 them at the end of the year. This would get around the E&O issue. Legal in my state, no idea about FL.

It really is hit or miss. Florida is a tough state but I don't know one way or the other. To split $25-$75/month and have to actually do work I doubt it's worth it. @ $25/month I'd cost me money if he called more than once a month with a question.

 

[Bob_The_Insurance_Guy]

Just wondering...

A Dentist, who sees people everyday, who more times than not have insurance. He makes a conscious decision not to practice, but keep his license.

Mmmm....

You guys are missing the boat. Don't just concentrate on HIS ONE group. How about all the other groups he can refer and split with you?

Unless...

He's already doing that with the local agent, who for some reason won't take HIS group.

Who keeps a license for something they no longer do. Unless they are still using it in some capacity.

Just wondering...

 

[vphealth]

Just wondering...

A Dentist, who sees people everyday, who more times than not have insurance. He makes a conscious decision not to practice, but keep his license.

Mmmm....

You guys are missing the boat. Don't just concentrate on HIS ONE group. How about all the other groups he can refer and split with you?

Unless...

He's already doing that with the local agent, who for some reason won't take HIS group.

Who keeps a license for something they no longer do. Unless they are still using it in some capacity.

Just wondering...

thanks for looking at the bigger picture, again, out of the business, did mostly p and c and life when i did work in insurance, the only health policy i ever sold was my own family, which i get about 90/m. don't know how the comission sharing works or any eob insurance. just figured that it made sense to use my license and get some residual income on the side, however small. as i stated i was out of the business i thought it was implied that i am ignorant on these matters. if somebody contacted me and, in a non-rude manner, explained the process to me and gave me a quote i would happily hand over the business, if i like the policy.

and yes, we refer patients to many specialists in town and many now use the computer network guy that i use.

 

[moonlightandmargaritas]

With a name like Flamingo Dental, I was guessing Florida, and a quick Google shows that to be true (possibly).

Moon, this is all yours.

Pass. Frying bigger fish.

 

[arnguy]

Geez, I would help you, but I am licensed only in PA. There seem to be quite a few FL agents on this forum. I would think that the newbies from FL would jump at this opportunity. Even if it's not great from a financial viewpoint it could be a great learning experience for a newbie.