Obama Care Commissions Scheduled

[Zanetti90]

Does anyone know how fast are they getting paid for on exchange policies? For example, I have wrote 10 policies that have as an effective day March 1st and I heard that you get paid 6 weeks after effective day. Could you guys helps me clarify that since I am a new agent.

Thanks

 

[Yagents]

I heard someone "has a pen" and he's gonna use it.........maybe to sign commission checks.

If things get fixed on the back end, you might get paid in April for march 1st exchange biz. If not fixed, you'll be able to pay your bills by late summer.

 

[timsip]

It's up to the carriers. You probably should be asking your carrier rep.

 

[policy doctor]

One of my friends got paid around $2 and change. He was so p'oed and called the carrier, who informed he would get rest after they got their subsidy from gov't. LOL

 

[ChrisN19]

So far the color co of TN has paid the ppm on all of my new policies, in fact I received a couple of payments in December on 1/1 effective policies. They were the ones who were able to get in and pay early

 

[AllenChicago]

One of my friends got paid around $2 and change. He was so p'oed and called the carrier, who informed he would get rest after they got their subsidy from gov't. LOL

Ah ha. That's what I thought the pay system might look like. We get paid the month after each portion of the premium is paid. Insurance companies won't pay us commission on a subsidy that hasn't arrived yet from Uncle Sam. I wonder if the commission systems have been "adjusted" to pay in this manner, and to display this two-step premium/commission structure on our monthly reports? Under this scenario, those who wrote a lot of heavily subsidized business for 1/1/14 will have to wait another month (March) to receive their full commission on these policies.