Wellcare PDP Class Action Suit

[Yagents]

In what scenario is an agent allowed to charge a fee for pdp enrollment?

Is it state based? Ahip certification status? No Double dipping allowed?

I still believe this will be the end result when the admin realizes they put seniors at risk and allow fees going forward

 

[Chazm]

In what scenario is an agent allowed to charge a fee for pdp enrollment?

Is it state based? Ahip certification status? No Double dipping allowed?

I still believe this will be the end result when the admin realizes they put seniors at risk and allow fees going forward

I was told from my FMO that if you offer any PDP or MAPD, you can’t charge a fee.

 

[Yagents]

I was told from my FMO that if you offer any PDP or MAPD, you can’t charge a fee.

Please elaborate on "offer".

Can an agent that is not certified and does not sell, nor get paid commissions on pdp or mapd.....charge a fee for a pdp review?

 

[rmhaire]

In what scenario is an agent allowed to charge a fee for pdp enrollment?

Is it state based? Ahip certification status? No Double dipping allowed?

I still believe this will be the end result when the admin realizes they put seniors at risk and allow fees going forward

Pretty much a no go on all three but it depends on your state.

Most states say no.

CMS would have a conniption fit.

Definitely not happening this year.

 

[rmhaire]

Please elaborate on "offer".

Can an agent that is not certified and does not sell, nor get paid commissions on pdp or mapd.....charge a fee for a pdp review?

Under this scenario yes you can.

If you're not certified then CMS can't say jack. It falls on the state.

In GA you can charge a fee you just can't receive any commissions.

Same thing in FL. Up to a max of $35.

 

[Yagents]

Under this scenario yes you can.

If you're not certified then CMS can't say jack. It falls on the state.

In GA you can charge a fee you just can't receive any commissions.

Same thing in FL. Up to a max of $35.

So the state of Florida allows you to charge up to a $35 fee? Where do you find data on other states like az?

 

[Newby]

Any agent that has not been running his Med Advantage and Part D biz in a manner where he knows that ALL commissions and renewals can go poof in the stroke of a politician’s pen has his head in the sand.

Make all the money you can while it lasts. But never put all your eggs and income in that basket. That has been my opinion for 15-years. But I have been surprised that it has lasted this long.

It’s every insurance company’s, wet dream to be able to eliminate insurance agents and commissions entirely, and still sell the same volume of their products. With most things, they can’t pull that off because sales just shut down when they eliminate commissions.

But on a product that everyone has to sign up for and there is zero premium and zero underwriting they will eventually be able to sign up people directly if they make it easy enough for people to know how to do that. It will happen. We have always known that.

It still pays very well today so make all the extra cash you can with it. But especially if you’re a young agent, I would never build my entire empire off of this product. This is an additional sale product not your bread and butter. You better be selling a lot of Medicare supplements or Final Expense or annuities or something that is more of a long terms stability or you are going to be hugely disappointed one day.

Just my opinion. I could be wrong, but I doubt it.

 

[AgentGeneral]

Any agent that has not been running his Med Advantage and Part D biz in a manner where he knows that ALL commissions and renewals can go poof in the stroke of a politician’s pen has his head in the sand.

Make all the money you can while it lasts. But never put all your eggs and income in that basket. That has been my opinion for 15-years. But I have been surprised that it has lasted this long.

It’s every insurance company’s, wet dream to be able to eliminate insurance agents and commissions entirely, and still sell the same volume of their products. With most things, they can’t pull that off because sales just shut down when they eliminate commissions.

But on a product that everyone has to sign up for and there is zero premium and zero underwriting they will eventually be able to sign up people directly if they make it easy enough for people to know how to do that. It will happen. We have always known that.

It still pays very well today so make all the extra cash you can with it. But especially if you’re a young agent, I would never build my entire empire off of this product. This is an additional sale product not your bread and butter. You better be selling a lot of Medicare supplements or Final Expense or annuities or something that is more of a long terms stability or you are going to be hugely disappointed one day.

Just my opinion. I could be wrong, but I doubt it.

Sounds about right to me.

and for sure people always need to have other options moving weekly out the door...fe/life/U65/gtl/anything that pays outside fed regs...

in this case, I would love to be wrong.

 

[InsuranceGuy29]

Any agent that has not been running his Med Advantage and Part D biz in a manner where he knows that ALL commissions and renewals can go poof in the stroke of a politician’s pen has his head in the sand.

Make all the money you can while it lasts. But never put all your eggs and income in that basket. That has been my opinion for 15-years. But I have been surprised that it has lasted this long.

It’s every insurance company’s, wet dream to be able to eliminate insurance agents and commissions entirely, and still sell the same volume of their products. With most things, they can’t pull that off because sales just shut down when they eliminate commissions.

But on a product that everyone has to sign up for and there is zero premium and zero underwriting they will eventually be able to sign up people directly if they make it easy enough for people to know how to do that. It will happen. We have always known that.

It still pays very well today so make all the extra cash you can with it. But especially if you’re a young agent, I would never build my entire empire off of this product. This is an additional sale product not your bread and butter. You better be selling a lot of Medicare supplements or Final Expense or annuities or something that is more of a long terms stability or you are going to be hugely disappointed one day.

Just my opinion. I could be wrong, but I doubt it.

I mean, even Med Supps can go “poof” with the stroke of a pen too. The government does whatever the hell it wants.

The Biden administration recently mandated rule changes for med supps and made it illegal to sell short-term health insurance plans.

No matter what line you sell, it can all go away tomorrow with overregulation. This is why it’s very important to start getting very political. Brokers need major lobbying power in Washington DC.

NABIP is a good first step but I haven’t heard a peep from them on this issue, thus far. And the most important thing brokers can stop doing is voting for a party that hates your line of work and wants to see you eliminated.

This is not some grand conspiracy theory. Cackling “Heels-UP!” Harris literally said this in 2019. STOP SUPPORTING THE PARTY OF BIG GOVERNMENT AND OVERREGULATION!

They hate insurance. They hate small business owners. They hate any sort of upward mobility for the little guy. They want to control us all.

 

[rmhaire]

So the state of Florida allows you to charge up to a $35 fee? Where do you find data on other states like az?

Dude. I'm old people. We go around with all kinds of stuff in our heads. Just don't ask us where we found it.

But I've been told that I've got 3 or 4 other people living in my head. I'll go ask one of them.

I'd suggest a google search. "Can an insurance agent charge a fee in AZ"

That will give you your answer.