Make $15k per month as a health agent?

[HealthMillionaire]

So I’m new to the health market....I have a back ground in digital marketing so I know I can generate leads. Can you list the commission structures for health agents? The best places to work or should I just be independent? Also I’d need quick payments... so if I write 1 policy paying $300 per month...what & when could I expect to be paid based on your payment structure?

 

[Yagents]

$10-12/month, per person, no matter the price.
Quick payments? Ha !!
I still have not been paid yet for business I wrote in Nov.
Godspeed

 

[rousemark]

Depends on the product. Health Insurance covered a wide range. If you are writing many of ancillary products, you may make 60%+ commission and be advanced 6 months.. Quick issue and turnaround. If you are writing Major Medical, I really don't know what those plans pay now... Back in the 50% was not uncommon but now I think it would be closer to 5%-10%..

 

[AnnaW]

Most commissions are gone in the individual market. In many locations the carriers are only working with agents that have large production. So you could sell 3-5 policies for that carrier and get paid ZERO. The money is in only in group health insurance and it will take you 4-5 years of hard work to build a business, that's with experience in the industry if you are leaving another agency....this is foolhardy for someone with no experience who just gets an insurance license by sitting through the classes. If you are just looking to sell online and try to enroll groups with no experience, it won't work. There is compliance and other things you need to be trained on and you have to have E&O coverage. You don't know what you are doing and a client gets fined by the IRS, you can get sued by the client and then lose your E&O.

 

[Dave020]

 

[HealthMillionaire]

I'm only interested in doing individual plans or any consumer plans! I'm not looking to sell to businesses...so I'm only interested in the pay commission structure for selling to individuals....I'm looking for fast payments ...

 

[DS4]

.. so if I write 1 policy paying $300 per month...what & when could I expect to be paid based on your payment structure?

In California, on a $300/mo premium, Blue Shield of California is going to pay you 1.4% and it will take at least 3 months to get you first check. Anthem will pay you $9 and it will only take about 2 months to get paid.

 

[rousemark]

In California, on a $300/mo premium, Blue Shield of California is going to pay you 1.4% and it will take at least 3 months to get you first check. Anthem will pay you $9 and it will only take about 2 months to get paid.

Wow! I knew commission rates had dropped on Major Med but had no idea they were that low.. I remember agents pitching a fit when the average commission rate was dropped to 30% first year and 10% renewals... and 10% to 15% level on group.

 

[Chazm]

Run!!! Haha. Who in their right mind wants to get in the major medical biz?

The structures are....very very low to zero. With most being zero

 

[russelltw]

We have two carriers. One pays $0, the other is not only NOT accepting new agents, but is actively shedding agents to get to a smaller footprint.

Not a lot of opportunity for the new agent until the ACA is replaced with something else, even then I am not sure it would benefit agents.