Major Hit from Humana

[somarco]

Humana is pulling an Aetna and cutting commissions on ALL inforce business, not just business written since last summer.

I probably should have noticed but with all the other crap going on, no one to blame but me.

Just asked for, and received, the 2011 commission agreement.

Renewal commissions on the old series (Autograph, Portrait, Monogram) is 5% of the BASE FIRST YEAR PREMIUM and does not include rate up for health or age changes or renewal premium increases.

Figure this is about a 70% pay cut for me.

I think McDonald's may be hiring.

 

[SamIam]

Are you saying first year is at 10 but renewals will be at 5

 

[medsuptage]

dang, thats horrible...

 

[somarco]

first year is at 10 but renewals will be at 5

Yes.

5% of the original premium before age or renewal increases or loads for medical conditions.

 

[AndreaSti]

Somarco, I didn't notice that either. We write a lot of Humana but only recently so most of ours are the newer plans. What are they doing with those? I could pull my agreement but it is easier to ask you instead, you seem to be on the ball. McDonalds will most likely benefit from your intelligence. Wait a minute, you better learn español. Lo siento, hope I don't offend anyone with that last remark.

 

[CHUMPS FROM OXFORD]

Typically, I write just ST from Humana. I assume that will be affected too.

 

[Yagents]

Typically, I write just ST from Humana. I assume that will be affected too.

No, it should not be affected, as ST is not subject to PPACA and MLR

 

[CHUMPS FROM OXFORD]

Well, that helps. Let's see. Family of four in Ohio. $1,000 ded. Humana ST plan costs about $40 per month. They keep it a month...

 

[medsuptage]

I didn't know they were aloud to cut any *inforce* business commissions? They can alter your contract from the past with our your consent?

I was under the impression they could only alter future business but not alter your inforce business renewals.

That is really unfortunate

Humana is pulling an Aetna and cutting commissions on ALL inforce business, not just business written since last summer.

I probably should have noticed but with all the other crap going on, no one to blame but me.

Just asked for, and received, the 2011 commission agreement.

Renewal commissions on the old series (Autograph, Portrait, Monogram) is 5% of the BASE FIRST YEAR PREMIUM and does not include rate up for health or age changes or renewal premium increases.

Figure this is about a 70% pay cut for me.

I think McDonald's may be hiring.

 

[somarco]

I don't think they can rape me on older plans either, but the new 2011 agreement says otherwise.

They finally put up a commission statement for January. Looks like everyone eff in 2007 is paid at 5%. Don't recall them ever paying that low before but will have to look back and see.

So far it doesn't appear they have stroked me on newer stuff . . . yet.

On the other hand I did have $54 in renewal dental commissions. Didn't know I had that much with them.