Humana with 6% renewals. That was in 2014. It's possible they changed it this year and I didn't notice. I think Aetna/Coventry will be at 8% in 2016 for agents who have at least 20 on the books, but less for between 5 and 19. And this I can't believe....If you don't have 5 on the books either renewals or new sales for Aetna/Coventry with an effective date of Jan 1, you won't be able to get any commissions for the rest of the year. That's the way their emails read. Could that possibly have been a mistake? Who knows?
The Eye Popping 2016 Obamacare Rate Increases Are Out
- Thread starter cadylou
- Start date
That's too bad. I'm 99.9 % positive that the first year,2014, Humana was 8%/6%.
Aetna may be like that now but they are increasing commissions for "top selling" agents in 2016. Meaning 20 or more effective Jan 1. Most of us should be fine with a PPM as long as it is 6%-8% of the Premium because we have a book of business to live off of, but it makes it very difficult for someone entering the business. In addition I had 20% fall off the books for one reason or another. It would be depressing to have to work to pay that off.
Parts of an email I received from Aetna:
"You have a powerful future with Aetna. Enroll 20 or more paid members for Aetna individual and family health plans and you'll be a powerful force at our Chairman level. That's our top commission level. And this year renewals are now worth even more to you."
*Your 2016 commission tier will be based on enrolled and paid new and renewing members that are assigned to you and in force January 1, 2016. Minimum of 5 members in your book of business is required by January 1, 2016 sold effective dates to get commissions on new business in 2016."
WOW! So they don't want the 100 more apps I could do between Dec 16th and Jan 31st after Medicare AEP is over?
Not my market, only 2 on exchange competitive carriers in my area. I heard Cigna pulled out of Florida. Is that true? or only some areas?
Does anyone know if any new carriers are going on exchange in Florida this coming year? I haven't had time to keep up with the news.
Aetna may be like that now but they are increasing commissions for "top selling" agents in 2016. Meaning 20 or more effective Jan 1. Most of us should be fine with a PPM as long as it is 6%-8% of the Premium because we have a book of business to live off of, but it makes it very difficult for someone entering the business. In addition I had 20% fall off the books for one reason or another. It would be depressing to have to work to pay that off.
Parts of an email I received from Aetna:
"You have a powerful future with Aetna. Enroll 20 or more paid members for Aetna individual and family health plans and you'll be a powerful force at our Chairman level. That's our top commission level. And this year renewals are now worth even more to you."
*Your 2016 commission tier will be based on enrolled and paid new and renewing members that are assigned to you and in force January 1, 2016. Minimum of 5 members in your book of business is required by January 1, 2016 sold effective dates to get commissions on new business in 2016."
WOW! So they don't want the 100 more apps I could do between Dec 16th and Jan 31st after Medicare AEP is over?
Not my market, only 2 on exchange competitive carriers in my area. I heard Cigna pulled out of Florida. Is that true? or only some areas?
Does anyone know if any new carriers are going on exchange in Florida this coming year? I haven't had time to keep up with the news.
- 1,305
For on exchange business Cigna has pulled out of FL for 2016 due to insurance Fraud....or so that's what has been presented.
As for new carriers in FL I've heard of some in South Fl but not any I would offer personally.
This is not a mistake Nasha. If you do not submit and have at least 5 members PAID and ready to go by January 1, 2016 your contract with all of the Aetna based companies (In the Mid Atlantic they are Aetna, Coventry, and Innovation Health) will be terminated. You can continue to submit new business under your NPN but you will not be paid for nor get credit for the submissions. The total number of members can be combined among the Aetna based carrier meaning if you have 5+ with one carrier you are good.
They said that they are stepping up their advertising campaign to draw in more customers. They said the campaigns drew in over 60% of their business. Agents accounted about 37% of their business.
They also said that ALL business submitted by agents MUST be submitted through the exchange. If you submit business direct with the company you will not get credit for it. THIS IS EVEN IF THE CLIENT DOES NOT WANT OR QUALIFY FOR A SUBSIDBY. IF THEY WANT TO USE AN AGENT THEY MUST GO THROUGH THE EXCHANGE. BIG SIGH IN THE ROOM.
The agents were not happy including myself. They claim that the TECHNOLOGY is not available to be able to connect the agents NPN to submissions coming in direct to the company and other explanations that made no sense. My take is they are competing against us and are not striving to make it easier for us. Sad thing many for the agents there are still using HC.gov and think it's crazy to pay someone to submit applications through HC.gov. The company agreed to set up meetings to help the agents who need help navigating HC.gov. I'm a web broker convert.
We asked about new agents that might get contracted after December 15th and submit 20 or more applications between December 16th and January 1st would they be terminated also. They said they had not thought of that but would look into it. The commission schedule in the Mid-Atlantic states is:
-5 Member= $0 new TERMINATION
5-19 Members= $8 New/ $8 Renewals
20+ Members= $16 New/ $16 Renewals
Whatever level you achieve by January 1st you are stuck there for life. Meaning if you reach the $8 commission level you will be stuck there going into 2017 unless they make adjustments. They did not say whether a terminated agent can recontract in 2017.
This is not a mistake Nasha. If you do not submit and have at least 5 members PAID and ready to go by January 1, 2016 your contract with all of the Aetna based companies (In the Mid Atlantic they are Aetna, Coventry, and Innovation Health) will be terminated. You can continue to submit new business under your NPN but you will not be paid for nor get credit for the submissions. The total number of members can be combined among the Aetna based carrier meaning if you have 5+ with one carrier you are good.
They said that they are stepping up their advertising campaign to draw in more customers. They said the campaigns drew in over 60% of their business. Agents accounted about 37% of their business.
They also said that ALL business submitted by agents MUST be submitted through the exchange. If you submit business direct with the company you will not get credit for it. THIS IS EVEN IF THE CLIENT DOES NOT WANT OR QUALIFY FOR A SUBSIDBY. IF THEY WANT TO USE AN AGENT THEY MUST GO THROUGH THE EXCHANGE. BIG SIGH IN THE ROOM.
The agents were not happy including myself. They claim that the TECHNOLOGY is not available to be able to connect the agents NPN to submissions coming in direct to the company and other explanations that made no sense. My take is they are competing against us and are not striving to make it easier for us. Sad thing many for the agents there are still using HC.gov and think it's crazy to pay someone to submit applications through HC.gov. The company agreed to set up meetings to help the agents who need help navigating HC.gov. I'm a web broker convert.
We asked about new agents that might get contracted after December 15th and submit 20 or more applications between December 16th and January 1st would they be terminated also. They said they had not thought of that but would look into it. The commission schedule in the Mid-Atlantic states is:
-5 Member= $0 new TERMINATION
5-19 Members= $8 New/ $8 Renewals
20+ Members= $16 New/ $16 Renewals
Whatever level you achieve by January 1st you are stuck there for life. Meaning if you reach the $8 commission level you will be stuck there going into 2017 unless they make adjustments. They did not say whether a terminated agent can recontract in 2017.
You know, I thought I heard that through my half listening Aetna webinar. What the hell? Let's just help HC.gov take over distribution of health insurance.
This makes no sense for Aetna to do all that you are saying. They have off exchange plans too, don't they? And while you can do on exchange plans for people who don't qualify for tax credit, which I do, you can't do off exchange plans on HC.gov. I guess they won't have any. Oh G-d I hope the antitrust committee blocks the Humana purchase.
Medicare agents have a writing number and sign clients up directly through the company, so that excuse makes no sense. Must have something to do with saving money by letting the exchange do all the paperwork.
All I can say is if they want business they better be a lot less money than everyone else and I doubt they will be in my area at least. They haven't been on the exchange in my county-2 counties away they have though. Who is going to write business for $96 an app when the premium is 6k to $7k a year. (I shouldn't say that really-I wrote some business for $0 to help a couple of referrals in another county with a plan I wasn't appointed with.) $192 isn't a bargain either and that's less than last year. Lol, that email I got lead me to believe the commissions would be higher. I guess I shouldn't post in the forums unless I know more of what I'm talking about. I don't think I will be affected by any of what you said Aetna is doing but I sure am pissed off right now just hearing about it. And I'm really worried about the Humana purchase and all you guys/gals should be too. Do we have any lobbyists on the forums? Humana takes good care of their agents; both career and independent
I read a little of the speech the Aetna CEO, I think, made to some committee to "talk them into" allowing the merger to go through and he mentions how all the Aetna employees will soon be getting raises to increase their income to at least $16 an hour and soon after the Humana employees will be getting the same. A little off topic but I found that interesting in light of what I just read here about Aetna.
Medicare agents have a writing number and sign clients up directly through the company, so that excuse makes no sense. Must have something to do with saving money by letting the exchange do all the paperwork.
All I can say is if they want business they better be a lot less money than everyone else and I doubt they will be in my area at least. They haven't been on the exchange in my county-2 counties away they have though. Who is going to write business for $96 an app when the premium is 6k to $7k a year. (I shouldn't say that really-I wrote some business for $0 to help a couple of referrals in another county with a plan I wasn't appointed with.) $192 isn't a bargain either and that's less than last year. Lol, that email I got lead me to believe the commissions would be higher. I guess I shouldn't post in the forums unless I know more of what I'm talking about. I don't think I will be affected by any of what you said Aetna is doing but I sure am pissed off right now just hearing about it. And I'm really worried about the Humana purchase and all you guys/gals should be too. Do we have any lobbyists on the forums? Humana takes good care of their agents; both career and independent
I read a little of the speech the Aetna CEO, I think, made to some committee to "talk them into" allowing the merger to go through and he mentions how all the Aetna employees will soon be getting raises to increase their income to at least $16 an hour and soon after the Humana employees will be getting the same. A little off topic but I found that interesting in light of what I just read here about Aetna.
LOL, are you just trying to get to 25,000 posts?
1. Pay such low commissions( I need a why?)
2. Block agents from doing business with them if they don't have 5 effective 1/1/16 when OEP goes to 1/31/16 and agents are busy until 12/7 doing Medicare enrollments for Aetna/Coventry
3. Require the use of Healthcare.gov when they sell off exchange plans which can't be done on healthcare.gov
4. Lock agents into a commission rate that's half of other agents rates no matter how well they do during the year.
Maybe they have different rules for different parts of the Country.
1. Pay such low commissions( I need a why?)
2. Block agents from doing business with them if they don't have 5 effective 1/1/16 when OEP goes to 1/31/16 and agents are busy until 12/7 doing Medicare enrollments for Aetna/Coventry
3. Require the use of Healthcare.gov when they sell off exchange plans which can't be done on healthcare.gov
4. Lock agents into a commission rate that's half of other agents rates no matter how well they do during the year.
Maybe they have different rules for different parts of the Country.
Because they can.
Same answer as #1
You got me there.
See answer #1
Obamacare is a game changer, moving health insurance from a sellers market (agent driven) to a buyers market (where buyers don't see the value of an agent when they can "cut out the middle man" and buy direct through hc.gov).
Agents are an extra layer of expense and frustration for the carriers. A (good) agent will put the sick people on a higher metal level when the numbers are right. A navigator will simply put them in the plan with the lowest outlay.
Someone posted (maybe in another thread) that one carrier states that only 30% of their business is agent driven. BX has seen numbers like that for years, long before Ocare. It would not surprise me if other carriers see a similar pattern.
