Will You Write Plans at 0% Commission?

[FLM2]

No pay no play... referrals from a zero comp client is worthless for those selling indy plans.... if you write a plan for free you are the problem with this system.... send a message, don't be a fool, stay in school and school taught me no pay no play

Peeler and I are in 100% alignment on this point.

The only way for agents to get CMS to mandate fixed compensation for ACA plans is for enrollments to fall so low it becomes a political burden and requires action.

Before you scoff at this suggestion, Florida Blue decided to reduce or eliminate agent compensation during the 2nd OEP and lost so many people they reinstated compensation for active renewals the following year and it continues into 2017.

We have no political action community, the ONLY way to help yourselves get paid in future years is to not write policies where you aren't being paid

 

[Alston]

Yes! After 36 years in this business, I have learned to value referrals that come from clients who know that I will give them the answer that meets their needs the best, regardless of how much I get paid. It builds trust. They send referrals. They buy other products. I make money. So, 0% is just one unpleasant blip in the road.

I agree.

I have a very similar plan although I plan to do P&C and not group.

The way I look at it, they can take my commissions away, but they can't take my clients. The relationships I've cultivated are not going away in one fell swoop.

My health clients will buy other insurance products in the future. The might as well buy from them me, but they aren't likely to do so if I abandon them now.

Of course, I won't bring in any new individual health clients.

 

[DS4]

- Will you write plans with these carriers at 0% comish?
- If yes, why?
-

Yes, I will write at $0 commission. Why? It keeps my adjusted gross income low so I can qualify for free government cheese.

 

[riskybiz]

Yes, I will write the plans and service them for a fee. There are plenty of people that want and need help and will gladly pay. We have been charging fees all year, it isn't for everybody but more have paid than not.

In addition I won't have to try to sell them some other "crap" they may not need to cover our cost. We provide value they pay us a fee, it works like that in other industries, why not insurance. Actually it does work like that in large group insurance, you add a fee on 100+ lives in most markets.

Plenty of people use Turbotax and plenty more pay an accountant to file taxes. You can DIY or you can pay a professional. I am going to be that professional and not leave people high and dry.

 

[Yagents]

Spot on Risky......................

Overall, each situation is situational, and it depends on circumstances.

 

[DS4]

California is still paying. Only because the DOI "hinted" legislation if the carriers stopped agents commission. DOI said agents provide a helpful service to insured's.

 

[taterpeeler]

Yes, I will write the plans and service them for a fee. We have been charging fees all year, it isn't for everybody but more have paid than not.


.

exactly... not for everyone because its illegal in most states, like Texas

 

[Sherota1]

If you live in or sell in VA charging a fee may or may not be illegal depending on how you do it. If you call yourself a consultant you must be properly licensed.

Virginia State Law Regulations (See pages 1, 16, 18, and 26)

Can an agent or broker charge an application fee on the FFM? Google Search "Agent Broker FFM Application Fees" Posted 7/18/2016

Looks like state law rules. Laws can be bent and twisted at any time. Best to check with your state and see FFM and state exchange updates.

 

[riskybiz]

exactly... not for everyone because its illegal in most states, like Texas

Definitely legal, Texas has a separate counselors license. I am in the process of getting my non-res at the moment.

 

[Yagents]

Definitely legal, Texas has a separate counselors license. I am in the process of getting my non-res at the moment.

And your read on the new Florida fee law?