Who pays the best commission on MedSupp GI?

[somarco]

Still looking for anything approaching 100% of normal OE payout!!

Why would you think carriers would pay full commission on a piece of business that is almost always a money loser?

I believe Aetna paid full comp then cut to 50%. The last cut was to 0.015%. Wonder why?

Chazm says full comp on GI is the "norm" in Florida.

@ Rob Lion #2- Plan F to G or anything else is permitted by UHC/AARP at anytime. Are there any other carriers that permit plan switch w/o UW, that anyone's aware of?

I thought UHC changed that recently. No more migration or only with stipulations? Other carriers aren't that foolish (allowing no underwriting change).

Although there was a carrier in 2010 that offered plan N with no underwriting requirement.

Care to guess how well that worked?

 

[XpressInsurance]

Still looking for anything approaching 100% of normal OE payout!!

WTF- Do the right thing put the customer in the right plan. You don't get rich off of one customer, you become successful for doing the right thing. I know I am not fond of writing GI business but it is what it is, suck it up buttercup. Really? This whole tread about couple hundred dollars.

How about you treat this person right, maybe get a few referrals because they think you went above & beyond, then tell everyone they know. If you don't want do the right thing move on.

 

[russelltw]

Funny Bob, a couple months ago I replaced that carrier's GI Plan N ($600+/month) with another Plan N for $230. Client was 92.

 

[somarco]

@XpressInsurance preach it.

I will not write GI business or under 65 business primarily because I am usually not appointed with the carriers with the best rates in those situations. But I do refer them to the carrier and suggest they go direct.

In the case of U65 Medigap the carriers in GA with the best rates are direct writers and do not appoint independent brokers.

Funny Bob, a couple months ago I replaced that carrier's GI Plan N ($600+/month) with another Plan N for $230. Client was 92.

Either that person's health improved dramatically in the last 8 years or the writing agent just looked for the easy way to pick up a few $$$.

Either way, congratulations on your sale. You did the person a favor and gained 6 years of renewal income you would not have otherwise.

 

[XpressInsurance]

I will not write GI business or under 65 business primarily because I am usually not appointed with the carriers with the best rates in those situations. But I do refer them to the carrier and suggest they go direct.

I will write the U65 supplement business, because they will turn 65 at some point & they always have friends. Lot of the U65 people I work with are usually not new to Medicare, so they tend to be in the MAPD or DE-SNP market.

I don't see any problem referring them directly to the carrier. I just think it is crazy to worry about couple hundred bucks in commissions.

 

[somarco]

I don't "worry" about commissions but I do feel my time is valuable. $25 one time or less for the same amount of work is not productive.

I do put in a fair amount of time for those within 3 years or so of T65 but many (most?) are 30 - 50 years old.

When carriers writing U65 plan F for $250/mo vs $700 to $3,000 for the carriers where I am appointed it just seems like a no brainer to refer them out.

So it's not that I wouldn't mind picking up $140/mo or more in monthly commission, the folks on SSDI really can't afford the $700 premium and for many even $250 is a stretch.

 

[MatthewC]

I have written a meaningful number of Trial Right Medigap plans. The 12-month Trial Right is not a GI. The consumer is reverting back to their Initial Enrollment. They can choose any Medicare supplement that is available to them, not just GI plans. I have argued this with MOO, Cigna and others and been paid on the business.

 

[somarco]

I have written a meaningful number of Trial Right Medigap plans. The 12-month Trial Right is not a GI. The consumer is reverting back to their Initial Enrollment. They can choose any Medicare supplement that is available to them, not just GI plans. I have argued this with MOO, Cigna and others and been paid on the business.

Beg to differ, but trial right IS a GI case no matter how you argue.

Have you been paid full commission on this "meaningful number" of applications?

 

[MatthewC]

Yes, I have been paid full commission - many times. If a trial right is a GI, then so is Initial Enrollment. Note the Choosing A Medigap guide pg 23 - GI plans are A,B,C,F,K and L. YOur choice with a Trial Right is "Any Medigap policy that’s sold in your state by any insurance company." That includes non GI Medigap plans. If you are not being paid perhaps it because you didn't argue the point. I am..from Cigna and MOO mostly. I don't recall if I have done the same with Aetna or others.

 

[somarco]

You don't need to point out where to find trial right info. I know exactly where it is and which plans are available under each of the TWO trial rights.

One trial right allows the individual to purchase ANY plan sold in their state, the other limits choices to the 5 GI plans.

Conflating GI/trial right with IEP doesn't make your case any stronger. At least not to me or most if not all of the other agents on the forum.

Carriers really don't like non-underwritten business and have been known to terminate agent contracts when they write a meaningful number of GI type apps.

Have a nice day.