Wellcare paying no commissions on pdp’s

[axeman462]

There are a couple groups looking to sue, it sounds likely

please keep us updated

 

[Special Agent]

There are a couple groups looking to sue, it sounds likely

lawyers love them some class action lawsuit that they think they can win and has some value.If there is lets say 500,000 x 55.00 lost renewals that is 27.5 mill in lost commish.Agent may not end up getting much but an ambulance chasing attorney that thinks the case is winnable would IMO take that case

 

[axeman462]

lawyers love them some class action lawsuit that they think they can win and has some value.If there is lets say 500,000 x 55.00 lost renewals that is 27.5 mill in lost commish.Agent may not end up getting much but an ambulance chasing attorney that thinks the case is winnable would IMO take that case

how would we get involved in a class action like that?

 

[Special Agent]

how would we get involved in a class action like that?

all i know is that after the attorneys who do these cases sniff out a case they they get a list of all the aggrieved parties in discovery and then notify them.Unfortunately any class action lawsuit that i participated in i.e Verizon i ended up getting about $3.26 while the attorneys got 40 million or so.

 

[InsuranceGuy29]

Just searched up this Michael Carson douchelord, who is the CEO of WellCare. One look into those dead eyes, and yup.....total evil psychopath. The worst of karma to you, sir. It's in the figurative mail.

 

[MedicareWAA]

Sometimes litigation is beneficial even if you don't think you'll win. It's a time suck, it's expensive, and it sends a pretty strong message to the defendant. And then sometimes you eke out a settlement.

I doubt we'll see any realistic litigation because the groups with the resources to sue also depend on WellCare to pay stupid high comp on their MAPD - in the end it's way more than the FMV commission rate.

 

[Russ]

Replaced a WellCare PDP today. I'm sorry Wellcare

 

[Sam]

lawyers love them some class action lawsuit that they think they can win and has some value.If there is lets say 500,000 x 55.00 lost renewals that is 27.5 mill in lost commish.Agent may not end up getting much but an ambulance chasing attorney that thinks the case is winnable would IMO take that case

It's more than 10 times this amount

Could be not all of their business was written by agents, but they have almost 6.7 million PDP members

 

[hockeyday]

Rewrite to who???

Cigna

 

[sshafran]

It's more than 10 times this amount

Could be not all of their business was written by agents, but they have almost 6.7 million PDP members

And it's annual comp. A big agency loses $100,000 - to think they only lost $100k is shortsighted. Many agents have PDP clients on the books for 5+ years.