Open Enrollment and Commissions

[FLM2]

Yep, I think your right. The problem is what happens to pending commissions if I change by agency. As I've heard, you lose them if you contract with somebody else. I may be wrong hopefully.

If you have assigned commissions to the agency (which is likely) then they will keep them, if you are paid directly then they are yours. You won't be able to move unless you stop writing business for a carrier for a minimum of 6 months so, if you stopped writing any business for Humana right now you would be able to go direct in November even if you wrote something yesterday.

You should really take a long and hard look at what you are doing, it seems to me, from the very limited information in front of me, that your business model is highly flawed and needs revision.

 

[ameneses54]

If you have assigned commissions to the agency (which is likely) then they will keep them, if you are paid directly then they are yours. You won't be able to move unless you stop writing business for a carrier for a minimum of 6 months so, if you stopped writing any business for Humana right now you would be able to go direct in November even if you wrote something yesterday.

You should really take a long and hard look at what you are doing, it seems to me, from the very limited information in front of me, that your business model is highly flawed and needs revision.

Thanks for sound advice.

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Those are Humana's standard, direct commissions in many states, here is the 2015 Producer Partnership document, individual Major Medical commissions are on page 15: http://apps.humana.com/marketing/documents.asp?file=2134184. There are several states with 5% FYC but all of them have 4% renewals; the only exception is LA HMO (I am not licensed in LA).

The other companies I quoted are accurate as well.

It really boggles my mind when an agent makes over 200 posts on this board and doesn't take the time to research things as basic as 'how much will I get paid' and 'am I getting a fair deal?'

Your agency is screwing you over, big time, do you realize that now?

After reading your advice again, it boggles me on how naive and complacent you can get. In any case, my situation is a catch 22, Humana commissions are so backlogged that if I were to leave my agency I would loose 4 months income and if I continue with them they keep on screwing me.

 

[FLM2]

Thanks for sound advice.

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After reading your advice again, it boggles me on how naive and complacent you can get. In any case, my situation is a catch 22, Humana commissions are so backlogged that if I were to leave my agency I would loose 4 months income and if I continue with them they keep on screwing me.

Naïve and complacent? Not me, I get paid directly, and weekly, by Humana (as just one example). I am fully up to date on commissions for all months through April and have already started receiving commissions for May premiums. Your agency has already been paid as well, they are most likely full of crap if they are telling you that commissions are way in arrears.

I didn't tell you to walk away from your current policies and lose (not LOOSE!!!!) that income, I told you to stop writing business with one or more carriers until you could walk away, it is completely different even if you don't understand it.

Don't lash out at me because you are a bad business person, you are stuck and will probably never work your way out of it because you seem much more interested in showing others you are right rather than dealing with the facts and building something that works.

Plenty of us have been through your situation (including myself to a lesser extent)-we found a away to work out of those situations over time and no longer have to deal with predatory agencies.

 

[ameneses54]

Naïve and complacent? Not me, I get paid directly, and weekly, by Humana (as just one example). I am fully up to date on commissions for all months through April and have already started receiving commissions for May premiums. Your agency has already been paid as well, they are most likely full of crap if they are telling you that commissions are way in arrears.

I didn't tell you to walk away from your current policies and lose (not LOOSE!!!!) that income, I told you to stop writing business with one or more carriers until you could walk away, it is completely different even if you don't understand it.

Don't lash out at me because you are a bad business person, you are stuck and will probably never work your way out of it because you seem much more interested in showing others you are right rather than dealing with the facts and building something that works.

Plenty of us have been through your situation (including myself to a lesser extent)-we found a away to work out of those situations over time and no longer have to deal with predatory agencies.

I really don't understand why you are so incisive, first of all I'm deeply grateful for your advice and regarding the complacent and naive I was referring to myself only. Further more I'm not lashing at anybody,I'm only asking. About walking away, in six months without writing my commissions would still be backlogged in my agency, both for Humana and UHC--that's my conundrum, loosing those commissions once I change directly to the companies.
Thanks anyways.