Why did I only get paid $5 commission on a new to medicare supplement?

[straightnochaser]

Caveat, not an agent.

I think it is when they were born, not when they went on Part B, for Plan C and F purchase eligibility.
(see p 75, Medicare and You 2024)

The question is "Were you eligible for medicare before Jan 1st 2020" Being eligible for it is the only requirement for F

 

[vic120]

From writing supplements since 1987.

Wow and you never did an open enrollment case for anyone over 65?

 

[Russ]

Wow and you never did an open enrollment case for anyone over 65?

Wow. Yes I have.

 

[jdeasy]

No it does not, If someone has Medicare a and b for over 6 months they are not new to Medicare even if they continued under employer coverage, and should not have started B they are not new to Medicare just because they retired

Noted. I was meaning new to a sup.

Details are important. He did say new to Medicare.

 

[jack3454]

New to Part B is NOT GI but if you checked the GI box on the app by mistake then you won’t be paid full commission. That’s a training issue.

This is what I did. Son of a….well at least I know what NOT to do next time!

 

[jack3454]

Bingo. .........here is an important DETAIL to never forget Jack 3454. If this was your client's situation call the company and get paid. Still not sure how plan F could have been written unless He was on Medicare part B before 1-1-2020 . We don't have when he went on Part B.

Many times Both GI and OE rules apply when someone retires from a company. As Newby said if you checked GI instead of OE you got paid by GI rules. Go look at your contract it will show this.
Remember these Insurance Companies could care less if you got stiffed or paid less .They would have known by his Part B date he was OE as well. They don't care. As my Momma said " No one cares more for you than Me and one day I'll be gone" In this business you care for you because the Companies don't and many Uplines could care less either.
There is a ton of experience on this board use it. And yes we can be snarky nothing personal.

I put the app in as GI, so this is where I went wrong. Thank you for helping get to the bottom of it! I’ll be more careful next time, but I just didn’t realize GI paid so little. I will call the company and see if anything can be done apart from putting an entire new app in. Not holding my breath but at least I caught it now instead of later.

 

[Dave G]

You Wrote: Basically client was coming off of group and retiring, and already had part A. Signed him up for B, then supplement F. I assumed I would be getting the percentage of premium, but clearly I didn’t.

If applicant was indeed "new to Part B" (i.e. within 6-months of the Part B effective date) this would be an Open Enrollment case with full comp. Wondering if maybe you stipulated it was "Guarantee Issue" on the application?? Some carrier apps can be confusing on the question if case submitted under Open Enrollment or Guarantee Issue. Check your copy of the application. If this is the case, call agent support for the carrier yourself....don't go through your FMO.

 

[somarco]

I put the app in as GI, so this is where I went wrong. Thank you for helping get to the bottom of it! I’ll be more careful next time, but I just didn’t realize GI paid so little. I will call the company and see if anything can be done apart from putting an entire new app in. Not holding my breath but at least I caught it now instead of later.

Consider using a different carrier . . . less hassle than trying to get it resolved with the carrier you used.

 

[Roxanne Robertson]

If it's Guaranteed issue, you are lucky you made $5. It's usually less than $1-2 per month.

You always want to see if they would pass Under Writing first, if not, then you reapply as GI. You
do what you have to do for the clients.

 

[marindependent]

I got $5 for a Plan F supplement,

too much or too little?