Recap of Commission Changes

[Yagents]

I thought it would be a good exercise to recap all of the companies' changes, and compare my notes to yours. The commissions below reflect direct agents (not GA/MGA), and some speculation as final communication has not come from all companies:

GR/UHC: 10% FYC on base premium only
4% Renewal years 2-4 on Base premium
2% Renewal years 5+ on base premium
Bonus plan available on written apps

Humana: 10% FYC on __?__ premium only
5% Renewal years 2-4 on Renewal premium
3% renewal years 5+ on renewal premium
Bonus program - points system

Cigna: 12% FYC on base premium only
5% renewals forever on Renewal premium
Bonus program - based on # lives on books

Aetna: 4% / 6% or 8% FYC (UNSURE OF THIS)
4% renewals yr 2-4
3% renewals yr 5+

Assurant: 12% FYC with advances returning (Unsure)
4% renewals

BCBS: State by state

Please correct me or post changes as needed.

 

[0b1kanobee]

Thanks, I was looking for something like this.

Q- I heard BCBSFL went to a flat fee per app. Cannot anyone confirm and if so how does the renewal work?

 

[mmike160]

Aetna has a max tier at 10%, once you write 50 cases. Still haven't seen anything official yet.

 

[YouGotMyMoney]

Thanks, I was looking for something like this.

Q- I heard BCBSFL went to a flat fee per app. Cannot anyone confirm and if so how does the renewal work?

I called Alliance, but they don't return phone calls.

 

[AllenChicago]

Some additions to the list: Effective 1/1/2011

Individual Health Policy Commissions

Blue Cross Illinois (And Texas?)
15% First Year if 25 Or More Cases Were Written in 2010.
10% First Year if Less Than 25 Cases Were Written in 2010.
5% Renewal for Years 2 - 9
0% Renewal for Years 10+

Standard Security Life Insurance Company
18% to 25% First Year
5% to 8% Renewal

Celtic Insurance Company
10% First Year (Retroactive to Policies Effective 9/1/2010)
4% Renewal

End

 

[YouGotMyMoney]

Who is standard security?

 

[CHUMPS FROM OXFORD]

Just to add a bit here...Don't forget the SQI (State Quotient Index) which takes into account premiums for specific states. For example...

GR/UHC: 10% FYC on base premium only
4% Renewal years 2-4 on Base premium
2% Renewal years 5+ on base premium
Bonus plan available on written apps

Becomes this in Ohio:

GR/UHC: 3.5% FYC on base premium only
1% Renewal years 2-4 on Base premium
1% Renewal years 5+ on base premium
Bonus plan available on written apps with more than six family members

 

[YouGotMyMoney]

yeah ok chumps ohio has most of the best rates and commissions in the country, quit trying to hog all the leads

 

[CHUMPS FROM OXFORD]

I'll trade ya Ohio for Florida!

 

[JAngelson79]

Who is standard security?

They're a subsidiary of IAC/IHC - Independence Holding Company...

And I heard from a lil bird @ GR that they are going to roll on with the USPC bonuses and such in 2011 almost the same as they are today...not bad new eh?