Updates on 'Have You Been Paid?'

[MaryDallas]

Yes, I am #1 priority, too .... along with thousands of other agents. As of Friday the ticket was 'still open' so looks like May or later to be paid for January; so frustrating. I feel sorry for the front line people, too, but this system of putting finance behind a brick wall is a bit pretentious.

They really need to pay a bit of overtime and get that taken care of. We know that will happen. And I can't figure out why they keep telling me to call back in a week or a few days every time I call. They are as usual creating even more unproductive/inefficient work. I appreciated this last lady telling me it might be six months more than this every few days noise, which was just to get rid of me.

I am so thankful that I am independently wealthy and do not need money.
Aren't you all?

 

[Norwayguy]

Yes, I am #1 priority, too .... along with thousands of other agents. As of Friday the ticket was 'still open' so looks like May or later to be paid for January; so frustrating. I feel sorry for the front line people, too, but this system of putting finance behind a brick wall is a bit pretentious.

They really need to pay a bit of overtime and get that taken care of. We know that will happen. And I can't figure out why they keep telling me to call back in a week or a few days every time I call. They are as usual creating even more unproductive/inefficient work. I appreciated this last lady telling me it might be six months more than this every few days noise, which was just to get rid of me.

I am so thankful that I am independently wealthy and do not need money.
Aren't you all?

What would happen if you sent them a bill computed by yourself. You have waited 4 months at this point you are charging 12% interest and will be reporting the deficiencies to the credit bureaus and vector..... Oh my bad we are talked about collections from a carrier not an agent.

 

[MaryDallas]

Exactly, NorwayGuy .... or what if our clients sent in 1/2 of their premium? Everything is always all about the insurance companies. We have our feet held to the fire nonstop and have to cross our T's and dot our I's. Insurance companies need to be held to the highest possible standards as well. Are they? No.

I have for many years wondered why at the State Board of Insurance there is no way to get help with payment for the agents. There needs to be a department for the agents to get assistance getting paid either from the insurance companies and/or agencies that end up with the agent's money. Even the District Attorney agrees it is white collar crime. Now, there's one I would love to see happen in my lifetime.

 

[AllenChicago]

I have for many years wondered why at the State Board of Insurance there is no way to get help with payment for the agents. There needs to be a department for the agents to get assistance getting paid either from the insurance companies and/or agencies that end up with the agent's money. Even the District Attorney agrees it is white collar crime. Now, there's one I would love to see happen in my lifetime.

Right now all they care about is raking in renewal fees, and punishing agents with $$$ fines for a myriad of non-compliance issues. But if agent pay issues become bad enough to cause a significant number to stop renewing their license, the state department of insurance might start caring.

 

[MaryDallas]

Right now all they care about is raking in renewal fees, and punishing agents with $$$ fines for a myriad of non-compliance issues. But if agent pay issues become bad enough to cause a significant number to stop renewing their license, the state department of insurance might start caring.

That's all they've ever cared about; it is not about the agent.

 

[Norwayguy]

Right now all they care about is raking in renewal fees, and punishing agents with $$$ fines for a myriad of non-compliance issues. But if agent pay issues become bad enough to cause a significant number to stop renewing their license, the state department of insurance might start caring.

Well the Maine is a non issue for carriers license has no renewal cost.

 

[somarco]

But if agent pay issues become bad enough to cause a significant number to stop renewing their license, the state department of insurance might start caring.

DOI revenues come mostly from premium taxes. if fewer agents apply for new licenses or renewals that just means less headache (and possibly staff).

As health insurance shifts from private to Medicaid and fewer people covered the DOI MIGHT see a drop in revenue from health insurance. That is most likely offset by higher premium tax collections on these ridiculous Obamacrack premiums.

 

[AllenChicago]

DOI revenues come mostly from premium taxes. if fewer agents apply for new licenses or renewals that just means less headache (and possibly staff).

So the moral is to diversify. Dedication to one Carrier, MGA, FMO, etc.. will eventually come back to bite our arse hard, and there will be Zero help from the state DOI.

 

[GreenSky]

I've been paid on every med sup I've written from every company. But given how screwed up all companies are, maybe this will be the exception in the future rather than the rule.

I have a bad feeling about all commissions in the years we have left selling health products.

Rick

 

[kgmom219]

I've been paid on every med sup I've written from every company. But given how screwed up all companies are, maybe this will be the exception in the future rather than the rule.

I have a bad feeling about all commissions in the years we have left selling health products.

Rick

Based on the fact that HCSC didn't pay commissions on Over 65 business in January due to an "internal error", I would say you are right. Going forward its going to be an issue on all business.