Non commissionable PDPs

[jack3454]

Aetna SmartSaver is one, any others that come to mind?

 

[Packerland]

IMHO we will see more in 2025 due to the $2000 cap…

 

[FMOadvisor]

For WellCare I was told today that no PDP New Business or Renewal commissions will be paid

Aetna will pay renewals for the Choice plan but no New Business commissions.

This will be a tough year for agents with large books that have to be re-written due to multiple plan exits

 

[Russ]

For WellCare I was told today that no PDP New Business or Renewal commissions will be paid

Aetna will pay renewals for the Choice plan but no New Business commissions.

This will be a tough year for agents with large books that have to be re-written due to multiple plan exits

F WellCare. Taking away commissions.

 

[Chazm]

For WellCare I was told today that no PDP New Business or Renewal commissions will be paid

Aetna will pay renewals for the Choice plan but no New Business commissions.

This will be a tough year for agents with large books that have to be re-written due to multiple plan exits

Who were you told that by for WellCare. You didn’t happen to read it online did you?

 

[FMOadvisor]

NMA's passed down the information today.

 

[Russ]

So they’re screwing the agent. I’m done with WellCare. And Silver Script.

Wonder if I can add Humana PDP to the list. They’re scared to release info.

The options are running out.

No sense ordering supplies from WellCare and SS.

 

[Truce]

400 PDP clients x $50 each renewal = $20,000 last year....and that's fair compensation for the work involved in advising on each renewal. I said "fair" compensation. It's a lot of hours to survey, shop, and enroll people that need to change. I'd happily pay someone else the $20K to do the work during the insanity of a short AEP.

This year, planning for PDP comp to be close to zero and the work to be even more tedious..... I bought a retire flo subscription, I'll send out the surveys, I'll send an email letting everyone know why they have to self service a bit to get advice, pay a contractor to track the survery and find people with plan mapping problems, formulary holes, etc. I'll encourage that select group to set meetings if needed, but hopefully just confirm via email what plan they want and send them a self enroll PURL.

1. I don't expect to get paid money to sell an unprofitable line of insurance, and that's what PDP is for 2025 insurers.

2. I don't expect to work for free, or take a loss in time-value or contractor fees.

I don't know how to square the 2 items listed above, but I have faith that a client who trusts me with their medical insurance decisions will ulimately be a profitable asset. I'll just be patient while the market figures it out and take the L this year and defend my book.

I'll even go full bore contrarian and HELP people whose PDP agents have abandoned them. I've got time and confidence, and switching that healthy person with a newly bloated PDP will result in multiple underwritten Med Supp policies in Feb/March when I slow down. I'll collect the medical data during the drug app and turn crisis into opportunity. And I still reserve the right to bitch and moan all AEP and question my sanity and strategy, and I will exercise that right.

 

[straightnochaser]

I tried to tell y'all about WellCare 2 weeks ago...

 

[Russ]

400 PDP clients x $50 each renewal = $20,000 last year....and that's fair compensation for the work involved in advising on each renewal. I said "fair" compensation. It's a lot of hours to survey, shop, and enroll people that need to change. I'd happily pay someone else the $20K to do the work during the insanity of a short AEP.

This year, planning for PDP comp to be close to zero and the work to be even more tedious..... I bought a retire flo subscription, I'll send out the surveys, I'll send an email letting everyone know why they have to self service a bit to get advice, pay a contractor to track the survery and find people with plan mapping problems, formulary holes, etc. I'll encourage that select group to set meetings if needed, but hopefully just confirm via email what plan they want and send them a self enroll PURL.

1. I don't expect to get paid money to sell an unprofitable line of insurance, and that's what PDP is for 2025 insurers.

2. I don't expect to work for free, or take a loss in time-value or contractor fees.

I don't know how to square the 2 items listed above, but I have faith that a client who trusts me with their medical insurance decisions will ulimately be a profitable asset. I'll just be patient while the market figures it out and take the L this year and defend my book.

I'll even go full bore contrarian and HELP people whose PDP agents have abandoned them. I've got time and confidence, and switching that healthy person with a newly bloated PDP will result in multiple underwritten Med Supp policies in Feb/March when I slow down. I'll collect the medical data during the drug app and turn crisis into opportunity. And I still reserve the right to bitch and moan all AEP and question my sanity and strategy, and I will exercise that right.

I’m sorry for you losing $20,000. I’m losing $5000+ but losing $20,000 reminds me of TFL days.