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Amittedly I don't write tons of med supps versus mapd.
How does commission work on this age (64)? Americo only paid me $25 so I'm confused.
How does commission work on this age (64)? Americo only paid me $25 so I'm confused.
Under 65 med Supp commission
- Thread starter OttoGraf
- Start date
I can't speak to Americo; however I'm currently looking for some MedSup options to offer alongside AARP/UHC in the Arizona market and I was sent some information for a couple of carriers in my market and was shocked to see that one carrier had the following on their commissions sheet "Compensation for Under age 65 and GI (Guaranteed Issue) business will be paid at a one-time flat rate of $25"
That's a lot of time/effort for a one time $25 check! :(
Was coming to post to see if anyone had any suggestions for reputable carriers that I could look to contract with with decent commission rates...
That's a lot of time/effort for a one time $25 check! :(
Was coming to post to see if anyone had any suggestions for reputable carriers that I could look to contract with with decent commission rates...
If your State Insurance commissioner doesn't look out for its constituents $25 is normal. ( some States make commisions same for under over 65)
Most companies won't underwrite a disabilty supplement. The only time a disability Medicare Supplement is normally issued is for OE or GI.
If a company pays a commision for disability when no one else does they get all the sickies.
Sucks for someone going on Medicare disability , because many agents won't give them the time of day if they're not compensated. To make it worse some companies will yank your contract if you write too many disability apps.
Most companies won't underwrite a disabilty supplement. The only time a disability Medicare Supplement is normally issued is for OE or GI.
If a company pays a commision for disability when no one else does they get all the sickies.
Sucks for someone going on Medicare disability , because many agents won't give them the time of day if they're not compensated. To make it worse some companies will yank your contract if you write too many disability apps.
- 16,877
No one wants under age 65 Med Sup business. The only way they can have Medicare at that age is to be on disability. So not an attractive healthy block of business for any company.
So unless the state requires otherwise no company is going to pay anything over a token for that business.
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Re write at age 65 and you are then golden!
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I was admittedly concerned by the "and GI (Guaranteed Issue) business" portion as I took that to mean if they were a standard T65 (age-in) than the commission would be $25. There is no 'under 65 Med Sup' business in Arizona.
If I am reading that correctly, why would I write T65 MedSup business for a carrier that was only paying a one time commission!
David Irwin
New Member
- 8
Limited number of carriers and plans for under 65 Medicare Supplements. You sell them a MAPD.
- Thread starter
- #8
- 337
Well that sucks. Thanks guys!!!
State by state rules.
A few years ago the GA DOI told carriers if they wanted to write Medigap 65+ they had to offer U65 SSDI as well.
Rate generally start around $500/mo for plan F and quickly rise to as much as $3,000+ per month.
And the commission sucks
A few years ago the GA DOI told carriers if they wanted to write Medigap 65+ they had to offer U65 SSDI as well.
Rate generally start around $500/mo for plan F and quickly rise to as much as $3,000+ per month.
And the commission sucks
