Why did I only get paid $5 commission on a new to medicare supplement?

[jack3454]

Does this sound right? Im street level commission, and I got $5 for a Plan F supplement, new to medicare. I was told by the carrier it was because it was “guaranteed issue”.

Is this normal? How do you make any money on supplements then??

 

[Russ]

If it's a turning-65 new to Medicare you should get $20-$30 a month.

If's it not and it's GI then yeah, low commission.

 

[axeman462]

Does this sound right? Im street level commission, and I got $5 for a Plan F supplement, new to medicare. I was told by the carrier it was because it was “guaranteed issue”.

Is this normal? How do you make any money on supplements then??

This is a good question for your upline

 

[Chazm]

Lesson learned. In FL We have multiple companies who pay full commission on GI. Varies by state.

 

[Millwood]

You definitely need a mentor.
NO company wants GI business. Hence very little to no commision in most states.
Some states mandate full commission because the insured is the one that gets screwed because no agent even wants to write it. Obviously you're not in one of those states.
So what are the full details? Person coming off group? Person coming off group and going on part B at a different time then their Part A? Losing Medicaid? Did their last company go belly up? Tons of variables no details.This business is all about the details. Every detail matters.

 

[jack3454]

If it's a turning-65 new to Medicare you should get $20-$30 a month.

If's it not and it's GI then yeah, low commission.

Oh ok thanks

 

[jack3454]

This is a good question for your upline

Not talking to them anymore i am switching Jan 1st.

 

[jack3454]

Lesson learned. In FL We have multiple companies who pay full commission on GI. Varies by state.

So all new to medicare are GI and you just have to find the ones who pay full commission?

 

[jack3454]

You definitely need a mentor.
NO company wants GI business. Hence very little to no commision in most states.
Some states mandate full commission because the insured is the one that gets screwed because no agent even wants to write it. Obviously you're not in one of those states.
So what are the full details? Person coming off group? Person coming off group and going on part B at a different time then their Part A? Losing Medicaid? Did their last company go belly up? Tons of variables no details.This business is all about the details. Every detail matters.

I had a mentor for about a month but he ghosted me, so Im leaving this company in January.

If no company wants GI and if youre not ina state that pays a decent commission on these, how can you even make money as an agent then?

I should have included the details but wasn’t trying to make a long post. Basically client was coming off of group and retiring, and already had part A. Signed him up for B, then supplement F. I assumed I would be getting the percentage of premium, but clearly I didn’t.

 

[goillini52]

I had a mentor for about a month but he ghosted me, so Im leaving this company in January.

If no company wants GI and if youre not ina state that pays a decent commission on these, how can you even make money as an agent then?

I should have included the details but wasn’t trying to make a long post. Basically client was coming off of group and retiring, and already had part A. Signed him up for B, then supplement F. I assumed I would be getting the percentage of premium, but clearly I didn’t.

New to Medicare should pay full commissions.