What is a fair split?

Discussion in 'General Insurance Agent Discussions' started by Sam, Sep 10, 2006.

  1. Sam
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    Sam Founder Administrator

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    I am working a group health case in Wisconsin and I am pulling 7 retirees off of the general plan. Because they have creditable coverage and their plan is "ending", they will be gauranteed issue. Currently, they are with a state plan that charges them $467/month in premiums. My understanding is that with a new plan, they will be gauranteed to have lower out of pocket expenditures over the course of the year.

    I know very little about supplements and how they commission. I will be bringing 7 people together for a presentation and then they will all sign up. It is guaranteed business.

    If the Humana broker is going to sign them up for a supplement and a prescription plan, what would his comp be? What do you guys think would be an equitable split?
     
  2. somarco
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    somarco Guru

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    I can't say what Humana pays in WI and I assume you are talking about a MAP with drug card. In GA they pay a flat $250 for the MAP and (I believe) 20% for the Rx.

    As for the split, there is not that much to split in a MAP sale. If the Humana broker is a GA I believe his comp rises to $350.

    I could be off a bit. When the MAP's first became available I looked at them and decided the liability was too great for the little bit of comp, even if it was (supposed to be) a slam dunk sale.

    If you are not certified to sell the MAP with Humana you cannot split the comp so it may be a moot point. You have to attend their training including the CMS certification.
     
  3. GreenSky
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    GreenSky Guru

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    I've been wondering for the past 3 years if the 7 people signed up. How was the split handled?

    Rick
     
  4. somarco
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    somarco Guru

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    I didn't get paid on any of them. How about you?
     
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