Medicare Supplements in Texas - Newbie Questions

[TopSecret]

Thanks guys. Will check them all out and of course I hope Frank comes by. I have been following all of you ...

Re: "They will only pay the full commission on people turning 65 or aging into Medicare, those who had plans terminated or are coming out of an MA or employee group plan will earn a flat commission of $24 per year, then $12 per year following. Generous, huh? I will be avoiding those like the plague...."

Are all companies like that or just Medco ... thats BS? What other Companies do that? I have heard this before. Not into spinning my wheels for nothin!

Other than assigning commissions is there anything I should look out for in these contracts?

 

[wehotex]

Last I checked Oxford was not competitive AT ALL!

To reiterate what the others said, you have to go through an FMO. I use Amerilife (NOT the captive side) for my GA contracts with United of Omaha, Assured Woodmen of the World, Gerber, Forethought. I use Benefitmall for United Healthcare AARP, Humana (small group), BCBS and Aetna. I just did my contracting with these, and I don't know if I will even end up using BCBS or Aetna, but I know I will be using UHC just because of that damn AARP branding. I don't remember who I got my Medico contract through, I believe it was called "The Brokerage" located here in Dallas. Medico also offers a med supp here, but I just received an email about a commission change on their guaranteed issue policies. They will only pay the full commission on people turning 65 or aging into Medicare, those who had plans terminated or are coming out of an MA or employee group plan will earn a flat commission of $24 per year, then $12 per year following. Generous, huh? I will be avoiding those like the plague....

AARP really should not pimp out their organization that way. I don't have any respect for them at all.
I used to be with BenefitMall. They really didn't offer a lot of support. I dropped them and went somewhere else.
I just discovered that Aetna "lost" one of my supps that I sold in July 2008. I didn't realize that they weren't paying me on it. My understanding is that they use CHCS, which is very sloppy with commissions. I hope that I don't have to fight to get paid. :(.

 

[Superchief]

Several carriers have been reducing commissions on G/I business, namely anything Mutual has their hands in which seems to be about 75% of the products out there right now. Mostly paying 50% of your current comp on T65 or underwritten business.

Paying a flat $24 is garbage, but like Medico there are a couple of other culprits doing similar things. Rumor has it, Old Surety will just terminate you for submitting G/I business.

 

[TopSecret]

It’s pretty amazing how they screw us. I am relatively new. My experience was only during last years AEP selling MAs for Humana. One of the things that really set me off with them is they didn’t pay me on folks I enrolled if they were already a Humana beneficiary (on another plan of Humanas). No one told me this. In fact I was under the impression that I would be paid a full commission on all those I enrolled. As it turned out, if they were aging in or new to a MA I got full commission. If I switched them from another company the commission was 50%. The kicker is they feed me some of the leads and I serviced their customers, hours of work and expense, with no pay. It doesn’t seem right. So new season, I was informed by another agent that I needed to fill out an Agent Change of Record form, another said “no that it was the way it was with all companies” and, another said “it is last application recorded wins the prize. So which is it?

I can’t find an Agent Change of Record form on site, so I email them on three different occasions with various questions but they managed to avoid answering where I get the Change of Record form 3x’s. Go figure. This year I will write for them but I will not write those who are already their customers, I will write them up under a different company. Does this sound right to you seasoned agents? School of hard knocks here, hope it pays off in the long run.

So now according to the post for Med Supps if they are T65 or have GI status I don’t get paid squat from some companies or even terminated, geezzz

It's a maze!

 

[Superchief]

The reduction in comp for G/I does not include T65. You still get full comp for T65 business.

 

[TopSecret]

The reduction in comp for G/I does not include T65. You still get full comp for T65 business.

Thanks Superchief!

 

[wehotex]

It’s pretty amazing how they screw us. I am relatively new. My experience was only during last years AEP selling MAs for Humana. One of the things that really set me off with them is they didn’t pay me on folks I enrolled if they were already a Humana beneficiary (on another plan of Humanas). No one told me this. In fact I was under the impression that I would be paid a full commission on all those I enrolled. As it turned out, if they were aging in or new to a MA I got full commission. If I switched them from another company the commission was 50%. The kicker is they feed me some of the leads and I serviced their customers, hours of work and expense, with no pay. It doesn’t seem right. So new season, I was informed by another agent that I needed to fill out an Agent Change of Record form, another said “no that it was the way it was with all companies” and, another said “it is last application recorded wins the prize. So which is it?

I can’t find an Agent Change of Record form on site, so I email them on three different occasions with various questions but they managed to avoid answering where I get the Change of Record form 3x’s. Go figure. This year I will write for them but I will not write those who are already their customers, I will write them up under a different company. Does this sound right to you seasoned agents? School of hard knocks here, hope it pays off in the long run.

So now according to the post for Med Supps if they are T65 or have GI status I don’t get paid squat from some companies or even terminated, geezzz

It's a maze!

They only pay if you switch the "product", ex: PDP to HMO; PDP to PPO; HMO to PPO; PPO to HMO; PPO or HMO to PDP $27.

 

[Superchief]

I never actually submitted my UHC AARP paperwork back to Benefitmall..... I may go with the Rabbi from here and do telephone signups as well as my telemarketed appointments. I hope he doesn't Jew me out of money though.... I do well on appointments because of my youth and beauty, the old people love me and never say no. It seems like this industry is overrun with middle aged slick businessmen, not many pretty girls in their early twenties. I digress....

I just don't want to go through all the hassle of AHIP and SOA's only to get fucked over by these MAPD carriers, I've heard it happening so many times. That's why I just want to choose one or two GOOD competitive ones and run with that. And yes, I've heard last app in wins.

***swoon***
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Last I checked Oxford was not competitive AT ALL!

Yeah, Jim over there sent me the rates but failed to send me a contract. I guess he knew it was a waste of time.

They've got 3 small zip codes worth a damn, but the rest of the state is too high. No Plan G either. Pfft.

 

[texaslady]

I think an agent of record form is simply a typed letter stating that the client wants you be the agent from here on out. Then the client signs it.

Shabat Shalom Everybody!

 

[donamese]

Oxford does? I've been hearing about this one, but I thought it was an SMS deal. Is it competitive?

Christian Fidelity was always free from SMS but only has Plan C and N, Oxford Life broke away from SMS and began offering direct contracts just a couple weeks ago (Plans F and N). The rates sucked initially but are looking pretty decent in some areas after all the other companies put out large increases.