When do you typically get paid for AEP Commissions?

[multipledigits]

Hi Everyone!

I just spoke with Agent Support at Devoted today and learned that my commissions during AEP are still paid out in their 2-week cycle. Does this sound right?

Or does it vary by carrier? I saw something when I searched the forum about this that was a rule from CMS saying we can't be paid 1/1 eff. date commissions until after 1/1 so I'm a bit confused. Maybe the rep from Devoted was talking about non-AEP policies that I write during that period? I don't know.

Last AEP I was with Assurance and I didn't get paid until mid-February (and then again a few weeks later because they cut everyone's commissions based on a horrid tier system but then everyone stopped working so they were like "okay you win").

 

[Fisher]

January it is.

 

[GoPokes]

In my experience, the big carriers pay out pretty quick, in early January. The smaller companies, pay out later in the month, or in the following months. I think some paid in Feb and March.

But, they have always paid, so you can rest assured the money is coming..... just dont spend your commission until its deposited in your account, just my advice

 

[ValeRosso]

Jan-Feb depending on carrier

 

[InsuranceGuy29]

Depends on the carrier, but usually first "true-up" payment is in early January, and the second and final true-up payment is late January. Some carriers might pay out the final payment in early-to-mid-February. If you're in a state with Blue Cross, their attitude is basically that of a Boss that also happens to be a degenerate gambler....."Eh, I'll pay you when I feel like it, pleb." Their first payment usually doesn't arrive until very late January and the second is usually very late February, sometimes even early March. They are the worst.

 

[AgentGeneral]

National carriers Jan. State specific carriers by march.

The 1st one I see in Jan is Humana. The last one I see is HAP in michigan in mid march. Depends what youre writing. We have one in Michigan that still has paper checks. That one is new to me. I doubt I'll see that one until the end of March.

I agree on BCBS, although last year the first part showed up mid jan. Who knows about 2024.

 

[Midlevel]

Had anyone else noticed a lag in commissions last couple months for new business? Have about 8 or 9 I wrote for 7/1,8/1, and 9/1 that I haven’t been paid try-ups for and all were new to Medicare turning 65. Company just keeps telling me it can take up to 3 months but it never has before.

 

[ValeRosso]

Had anyone else noticed a lag in commissions last couple months for new business? Have about 8 or 9 I wrote for 7/1,8/1, and 9/1 that I haven’t been paid try-ups for and all were new to Medicare turning 65. Company just keeps telling me it can take up to 3 months but it never has before.

yep, same issue here

 

[Midlevel]

yep, same issue here

Good to know it’s not just me. They have the chargeback for death done before the funeral takes place though.

 

[DonP]

United pays Initial first of all carriers . They pay Jan 1st and will again this yr . People who override get their overrides monthly .