Pre and Post ACA Pricing in CA
- Thread starter supersupps
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Really? Let's take a very modest $50K income. You want to be in a position to have to enroll 500 new members just to make a modest income? Wow. You can have it. You do realize that as a reputable agent, you job doesn't end once the application is submitted, right?
If it's per-member and not per-contract it would be fine. Most of my applications are families so it would be more like $32-40/mo first year and $16-20/mo renewals. Given that I only get 10% now and CareFirst BCBS only pays $20-25/mo per contract, it's about the same when all is said and done and I don't have to worry about declines or turning people away because they are uninsurable.
Enrolling 500 members/year is not that tough. Before I scaled back on health insurance I was doing 150-200 apps/year which is probably 500 members if not more. After a couple years of renewals it adds up and that does not take into consideration the life/disability/LTC sales and the occasional annuity.
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Kaiser CA currently pays $100 FY and $50 Renewals per head, not per application.
We aren't talking about 'before', we are talking about Obamacare and OE. You don't get all year to enroll 500 members. For 2014, you get six months. Beyond 2014, you get the same ten week period as Medicare. Of course you can bank on getting a lot of enrollments during lock in due to life events, but you won't find me with that strategy.
Like I said, you are convinced that this is a good compensation package and it's workable, go for it. I am worth more than $100 per member per year. I get four times that amount for MAPD.
no sir, not gonna do it for 100 bucks PMPY. Not worth the time restrictions. There is no way in hell im going to bust my hump, spend thousands of dollars on marketing for that mickey mouse comp.... you want you can have... no one else will
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If this were the pay from an exchange when would the agent receive it...Jan or Feb issue or submission?? That's a long time...any ideas
Who knows? On MAPD they pay promptly, but on the PCIP the saying "the check is in the mail" was more than just a joke.
However, commission will be coming from the insurers, not the exchange, so they may pay promptly but have a charge-back if the insured cancels in the 90-day grace period that is allowed for exchange business. Also, you may get commission on the subsidized and unsubsidized portion separately. For instance, in Arizona we have a Small Business Tax Credit, and the insurance company pays on both sources of funds, but the commission is separated because they only pay commission when the funds are actually received.
They may follow how MAPDs are paid....initially you get the renewal commission, then after a period of time you get the remaining portion if it's an initial renewal. With exchange comp, they may initially pay renewal amount, then after the 90 day grace pay the remainder.
