We urge CMS to require brokers and agents to reveal commissions, commission residual schedules, bonu

[Duaine]

Sales Commissions and Other Sales Issues Commonwealth Fund analysis also found that most people who received help choosing between their coverage options turned to brokers and agents.13 But these representatives are not always objective; they receive commissions, which may not be equal between products.14 For example, commissions that are higher for MA plans than for supplemental coverage like Medigap may incentivize agents and brokers to steer consumers into MA. We urge CMS to require brokers and agents to reveal commissions, commission residual schedules, bonuses, and other financial incentives they receive for any given enrollment. We also ask CMS to require that agents and brokers identify themselves as such, and not disguise their financial interest behind terms like “advisor” or “navigator.” Such disclosures are a necessary and long overdue step towards transparency. Further, we urge CMS to consider imposing fiduciary duties on agents and brokers to ensure that they are acting in the beneficiary’s best interest. We also ask CMS to more actively promote and advocate for increased funding for State Health Insurance Assistance Programs (SHIPs). Despite being a primary, trusted source of unbiased enrollment counseling, their funding is unable to keep pace with growing demands, which are in part being driven by MA enrollment increases and an ever-more complex plan selection process. To better help SHIPs provided needed assistance, we recommend seeking adequate funding in the President’s budget requests to Congress.

https://www.medicarerights.org/pdf/021323-comments-2024-ma-and-partd-rule.pdf

 

[MedicareAgent]

I tell my customers what I earn, it's called building trust and letting them choose what product they want, not the one that pays the most.

 

[Dutch]

SHIP sucks because the client has no recourse if they got bad advice.

 

[Duaine]

I tell my customers what I earn, it's called building trust and letting them choose what product they want, not the one that pays the most.

I inform them that, if they enroll with me, I am paid by the insurance company at no additional cost to them. If they ask more then I tell them the commissions but I don't ask them what they make at work.

 

[somarco]

I have never told a client (or prospective client) what I earn . . . it's none of their business.

A few times I say it's a lot less than I would make from an MA plan. Sometimes I say it is the same rate you get from the carrier . . . the difference is you deal with me vs whoever answers the phone at the carrier shop.

If they are going to make their choice based on who earns the lowest commission, I don't want them as a client.

 

[Cornelius]

What about informing the client how much can be lost if the agent doesn't recertify? Have them check a box if they think that is fair. Yes or No..

 

[policywunk]

What about informing the client how much can be lost if the agent doesn't recertify? Have them check a box if they think that is fair. Yes or No..

Or informing the client that i have had to sit on many cat piss couches, listen to 1000's of hours of old and stupid peoples ramblings while judge judy is blasting from the TV and wasted many hours and gas driving to no show appointments - all at no charge.

 

[DonP]

Right if all my clients tell me what they make I’ll be glad to reciprocate. Tell my clients how I get 15 calls a day . Anyone who calls mapd “ passive income “ is either delusional or a recruiter living off the hard work of others .

 

[InsuranceGuy29]

Have to definitely disagree with this. Not that it really matters, but I don't think it's a secret that we're paid on commission. You can look it all up online. Supplements are all within a tight range of pay (no significant differences) and Medicare Advantage is all identical, depending on state, regardless of the company.

Wow, Medicare Rights Center....you got us there. Yea, we're gonna sell everyone down the river for an extra few cents/month, while damaging our reputations and risking not getting future referrals. Because that makes tons of sense.

I'm not sure what groundbreaking information they're trying to get here. It's all available online. I mean, is it normal to go up to people and ask them what they make? It's pretty ridiculous, to be very honest. Maybe we should start demanding they disclose their pay, too. I mean, God forbid someone get paid for doing their job.

Just another thing to pick and poke at agents as if we're the problem. It's pretty clear these commie think-tanks just want us out of the way so they can try the "death by a thousand paper cuts" option, so that before we know it we're in a breadline and "Daddy government" has taken over.

It won't happen, but God knows they're trying, which is why they want more funding for state SHIPS (navigators). I also work the under-65 marketplace and all I hear all day long is the garbage advice and "help" people got from navigators. Why? Because it's the government, they aren't licensed agents, they don't know the million rules and laws, they can't be fired, they're overworked and underpaid, and they don't give a shit. lol.

All these people know is they hate private businesses and they "rEeEeEeEeEeE" whenever someone mentions it. Stop voting Democrat, and make sure you stay on NAHU to stand in our corner with this stuff. We need to stay organized and vigilant to counter their crap, because they're never gonna stop.

 

[InsuranceGuy29]

What about informing the client how much can be lost if the agent doesn't recertify? Have them check a box if they think that is fair. Yes or No..

Exactly. They should be informed that we undergo rigorous training every single year from not only each and every insurance company, but also AHIP, whom we are given a lengthy and difficult word salad legalese test that we have to get a 90 PERCENT on, every single year, otherwise we lose EVERY SINGLE DOLLAR WE'VE EVER MADE....LIKE EVER, in regards to Medicare Advantage.

I mean, if that doesn't make an expert out of someone, I don't know what will. Who would you rather speak to.....someone like that, or a crony, low paid, uniformed, uninterested government/state navigator employee who is not accountable to anyone for bad advice and knows they can't get fired?