United HealthOne - Golden Rule Bonus
- Thread starter somarco
- Start date
- 415
Thats looks pretty good (although there is bound to be some small print)
- 5,056
Ok, let's look at the average agent that does 3 apps per week, with let's say 25% of that with uhc, round it off to 15 apps total between oct and jan.
2500 bonus / 15 apps is 166 per app bonus.
10k / 30 apps is 333 per app bonus, def helps.
- 14,809
We're going to quickly get out of agents spreading their business out. What it looks like we're going to see is graduating commission scales loaded with bonuses.
You cannot maximize comp by spreading your business out with 3 or 4 carriers with that model. That could cost you $20K to 50K a year starting in Jan.
You're going to see agents devoting themselves to a single carrier. Watch for it. I've never been into what I call "hyper-ethics." So long as a carrier is competitive in my state, the one giving me the most in commissions wins.
If the one offering the largest comp isn't competitive then I'll find a state where they are. If you're only in this game to "help people" where comp doesn't matter - go work for Habitat for Humanity.
You cannot maximize comp by spreading your business out with 3 or 4 carriers with that model. That could cost you $20K to 50K a year starting in Jan.
You're going to see agents devoting themselves to a single carrier. Watch for it. I've never been into what I call "hyper-ethics." So long as a carrier is competitive in my state, the one giving me the most in commissions wins.
If the one offering the largest comp isn't competitive then I'll find a state where they are. If you're only in this game to "help people" where comp doesn't matter - go work for Habitat for Humanity.
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- 415
So, on a $300 pr month deal it could look like this:
$300 x 12% = $36 x 12 = $432 First year commission.
$432 + $333 (assuming you hit that number)= $765 total comp
$765/$3600 = 21.25% of annual premium.
Thats not a bad deal at all.
$300 x 12% = $36 x 12 = $432 First year commission.
$432 + $333 (assuming you hit that number)= $765 total comp
$765/$3600 = 21.25% of annual premium.
Thats not a bad deal at all.
- Thread starter
- #6
I realize every area is different, but it has been 3 years since GR had anything to offer here. Seriously, the only business I have placed in that time has been stuff no one else would write.
When a carrier, by design or otherwise, sets themselves up as the junkyard dog they deserve what they get.
Right now I am still riding Humana but sprinkling business in other places as the need arises. Has nothing to do with bonus. All about what is right for the client.
When a carrier, by design or otherwise, sets themselves up as the junkyard dog they deserve what they get.
Right now I am still riding Humana but sprinkling business in other places as the need arises. Has nothing to do with bonus. All about what is right for the client.
- 14,809
Had a very very interesting conversation with a rep yesterday. Said ironically with the new sliding scale coming out top producers can make MORE than 20%.
Why? Simple math. If base is 10% carriers know that 90% will be paid 10%. If you're only paying the top 10% over 20% including bonuses you average that and you're golden.
Why? Simple math. If base is 10% carriers know that 90% will be paid 10%. If you're only paying the top 10% over 20% including bonuses you average that and you're golden.
- 415
Although its hard to build a business plan only knowing what the total comp is up to a certain date. I mean, what happens after 1/31?
Whilst this looks good and is a definite point in the right direction there are still lots of questions unanswered......
Whilst this looks good and is a definite point in the right direction there are still lots of questions unanswered......
- 14,809
This has been discussed but at the end of the day the carriers need business. Can they gain enough through direct channels? They already know the answer to that: No.
We are their least expensive way to gain business AND if it's bad business that peels off the books, our pay stops. Can't get better than that. Can they take back that $12/hr call center rep's pay? No. Has the call center model worked? The four major national call centers are all out of business.
So unless they crunch the numbers and find a way to keep agents in business they might as well start packing their boxes.
We are their least expensive way to gain business AND if it's bad business that peels off the books, our pay stops. Can't get better than that. Can they take back that $12/hr call center rep's pay? No. Has the call center model worked? The four major national call centers are all out of business.
So unless they crunch the numbers and find a way to keep agents in business they might as well start packing their boxes.
Sorry for my ignorance, but what doesn't make sense to me is these bonuses still factor with the MLR. Its not like they say bonuses don't count. Especially if they are paying out more with bonuses. Doesn't this defeat the whole purpose.
I don't know if made sense but I hope somebody understands what I'm saying.
I don't know if made sense but I hope somebody understands what I'm saying.
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