Does this supplemental commission schedule sound right?

[jack3454]

I was talking to Aetna on the phone and they sent me the commission schedule for Medicare supplemental sales, and these amounts sound low to me:

For open enrollment age 65+, im at 23% for years 1-6, then at 3% for years 7+
For under age 65, im at 2.5% for years 1-6 and then 0% at years 7+

Guaranteed issue im at 0.9% (not even a full percent) for years 1-6.

Did I make a mistake with my current contracting? PLease help.

 

[GoPokes]

You should be getting at least 100% of the street level commission. Since you are asking here, it’s clear, you have no idea what is normal.

 

[Newby]

I was talking to Aetna on the phone and they sent me the commission schedule for Medicare supplemental sales, and these amounts sound low to me:

For open enrollment age 65+, im at 23% for years 1-6, then at 3% for years 7+
For under age 65, im at 2.5% for years 1-6 and then 0% at years 7+

Guaranteed issue im at 0.9% (not even a full percent) for years 1-6.

Did I make a mistake with my current contracting? PLease help.

Yes 23% is about normal for street and it goes 6-years in most states.

The rest of that stuff they don’t want at all. And they are trying to tell you with the commission percentage to stay away from it. That is normal. They don’t want disability business (under 65 is ALL disability) and they don’t want GI biz.

Turning 65 pays the full 23%. It’s not considered GI. Even though it is underwritten as GI.

 

[jack3454]

Yes 23% is about normal for street and it goes 6-years in most states.

The rest of that stuff they don’t want at all. And they are trying to tell you with the commission percentage to stay away from it. That is normal. They don’t want disability business (under 65 is ALL disability) and they don’t want GI biz.

Turning 65 pays the full 23%. It’s not considered GI. Even though it is underwritten as GI.

Thank you for the information. I looked at my other carrier supplemental commission rates and they are all around 23-25% as well. I’m glad to hear this is street level and that I wasn’t getting ripped.

And That’s a good way to look at the disability and other scenarios where they pay so little...they just dont want that business.

Now I see why MAPD is so popular with agents, commissions are way better!

 

[DonP]

Thank you for the information. I looked at my other carrier supplemental commission rates and they are all around 23-25% as well. I’m glad to hear this is street level and that I wasn’t getting ripped.

And That’s a good way to look at the disability and other scenarios where they pay so little...they just dont want that business.

Now I see why MAPD is so popular with agents, commissions are way better!

Im at 30% with Aflac also administered by Aetna . But that’s about 4 levels above street .23% is low with Aetna . You can get 25-27% if you have a relationship with an fmo. And your incorrect mapd overall doesn’t pay more than med sup . 90% of your mapd sales will be non t 65 were you’ll make $301 total .

 

[Yagents]

Thank you for the information.

Now I see why MAPD is so popular with agents, commissions are way better!

It takes a great salesman to be able to sell a free plan, and......get paid more

 

[DonP]

It takes a great salesman to be able to sell a free plan, and......get paid more

No but it takes a hell of a salesman to keep it on the books yr after yr and build relationships. The work to keep it is 10 times harder than a sup . But you can write a lot more of it . My 5 fig renewals hit this week . It just reiterates all the hard work I put in .

 

[Yagents]

No but it takes a hell of a salesman to keep it on the books yr after yr and build relationships. The work to keep it is 10 times harder than a sup . But you can write a lot more of it . My 5 fig renewals hit this week . It just reiterates all the hard work I put in .

Does that include the 2 digits after the decimal point? Ha

 

[Millwood]

Aetna is one of the few that pays full commission on age 80 and over.
Most companies cut it in half at 80 and above.

If all you're worried about is Max commission every sale go find a different job. Do what's best for client every time.
Not what's best for Your pocketbook .
That's why I wouldn't trust 90% of agents to write my momma!!

Last GI disability Supp paid me $25 . Lady had called at least 10 agents they all blew her off because commission was only $25. She has probably given me 10 referrals I wrote.

 

[jack3454]

Thank you