Talk to me about Supp commissions in NC

[KandKsmommy]

Hi Guys,

My boss's parents and the majority of her family are moving to NC. We are trying to decide if it would be beneficial to get me a non-resident license. I was looking at their Med Supp premiums and compared to Maine they are insanely cheap so it makes me wonder what the commissions look like.
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In Maine
Anthem Plan F Premium $237.12 and we get paid $18.75

How does it compare?

 

[Chazm]

Hi Guys,

My boss's parents and the majority of her family are moving to NC. We are trying to decide if it would be beneficial to get me a non-resident license. I was looking at their Med Supp premiums and compared to Maine they are insanely cheap so it makes me wonder what the commissions look like.
-
In Maine
Anthem Plan F Premium $237.12 and we get paid $18.75

How does it compare?

Wow, less than 10%! I don’t sell in NC but I’d have to guess it’s 20-25% to make up for the lower premiums.

 

[somarco]

non-resident license

At one time NC did not allow non-res health licenses in NC. Not sure if that still applies or not.

 

[DonP]

I never heard of 10% on med sup . I’m 2% above street on anthem and at 30% on Aflac ( since I got way above street on fe it bumped my med sup part up ) . Street on most sups is 20-22%

 

[goillini52]

I never heard of 10% on med sup .

BCBSIL only pays 10% on their GI Med Supp.

 

[rmhaire]

An NR license will set you back around $100 for L&H. But what's really cool is that they have a new line of authority for Medicare/LTC for an extra $50. One of a few states that separate MS from health.

 

[Chazm]

I never heard of 10% on med sup . I’m 2% above street on anthem and at 30% on Aflac ( since I got way above street on fe it bumped my med sup part up ) . Street on most sups is 20-22%

I doubt it’s 10%. It’s probably a flat fee of $225. uhc used to pay $225 flat fee in FL. Thankfully it’s $450 now.

 

[rmhaire]

I doubt it’s 10%. It’s probably a flat fee of $225. uhc used to pay $225 flat fee in FL. Thankfully it’s $450 now.

Could very well be.

I remember reading a commission schedule that included all the states. The kind the companies send you when you contract with them. I remember a northern state at 10 or 12 but can't remember which state. Could have been Maine.

 

[KandKsmommy]

Wow, less than 10%! I don’t sell in NC but I’d have to guess it’s 20-25% to make up for the lower premiums.

ME has interesting GI rules and Anthem has chosen not to ask health questions at all. I think that is why their commissions are not the greatest. They do give us a production bonus on N & G 3-4 a month gets you $100 per sale and 5+ gets you $225 per sale. The bonuses were better in my first year (2021) $150, $250, and $300 if I remember correctly.

I do a lot better with our other carriers like Cigna which gives 19% for non-GI but GI with them is a measly 3%.

 

[DonP]

Ok this explains it . Many states give $25 flat for Gi med sup . Nobody’s selling a regular sup for 10% commission.