Referral Fees - MAPD Plans

[sodaytongal]

Hello,
I've been captive and have about $400 in renewal fees that I need to assign to another agent. Is any type of referral fee legal? Thanks

 

[Chazm]

If you are captive, I doubt it. Call the company
Even if you are not captive I'm not sure most companies would change the AOR for MA plans

 

[Josh]

You're sticking your renewal *fees* on another agent?

 

[sodaytongal]

If you are captive, I doubt it. Call the company
Even if you are not captive I'm not sure most companies would change the AOR for MA plans

I'm captive now . . this was a book that has dwindled down over the past few years. I need to give it to someone else. I have checked with the carrier and I can assign renewal commissions to another agent. Instead of just giving someone $400 in renewals, I was wanting to know if there is anything legal I can do here. I doubt they would buy this book from me and I don't even know if that's legal. Just wanted to know if I had any choices other than giving it back to the carrier or just giving it away. THANKS.

 

[SportsNut]

Most captive situations do not preclude you from receiving renewal comm's from previously sold products and clients. You may wish to check into this further, and if not, then re-evaluate your situation.