MNSURE....I'm Confused

derekgmn

Expert
30
Alright, so currently all my clients whom I sell health insurance to actually goes through another guy at our office and quite honestly it's becoming more and more part of my business. He takes 50% of commission. My question is I know I have to get MNSure certified but do I also have to get appointed by each individual company or an IMO or once I become MNSure certified will that be enough. Obamaca...sorry Affordable Health Care Act is such a pain I hate it. :goofy: Oh, I know I should be appreciative of those 400,000 jobs it's going to create.:D
 
In Iowa you have to also be appointed with each insurance company if you want to get paid commission for selling their policies! Probably the same in MN
 
In Iowa you have to also be appointed with each insurance company if you want to get paid commission for selling their policies! Probably the same in MN

Thanks for letting me know. I'm sure Minnesota will be the same as Iowa. I'm guessing it's probably the same in all states.
 
Thanks for letting me know. I'm sure Minnesota will be the same as Iowa. I'm guessing it's probably the same in all states.

It's not the same in all states. In most states you only need to be licensed to do a commission split, not appointed. With Medicare Advantage plans it's different, but they have a lot of their own rules. If your office is handling it that way, it's very likely to be legit. I don't think they would fool around with breaking the law.
 
It's not the same in all states. In most states you only need to be licensed to do a commission split, not appointed. With Medicare Advantage plans it's different, but they have a lot of their own rules. If your office is handling it that way, it's very likely to be legit. I don't think they would fool around with breaking the law.

Josh, I do have my state license. I was talking about to get full commissions do I just have to be MNSure certified or do I have to be MNSure certified as well as get appointed by BCBS, MEDICA, UnitedHealth, etc. Right now since I'm not appointed by any health companies I have been doing commission split with another agent at the office.
 
Derekgmn,

Carriers pay compensation directly to the broker, the marketplace has nothing to do with it. Because of this, yes, you do have to be appointed.

I presume your current situation is one where your co-SA is appointed, he is receiving the comp, and 50/50 splitting with you. You'd have to follow in his footsteps and get appointed if you'd like that 100% for yourself.
 
Derekgmn,

Carriers pay compensation directly to the broker, the marketplace has nothing to do with it. Because of this, yes, you do have to be appointed.

I presume your current situation is one where your co-SA is appointed, he is receiving the comp, and 50/50 splitting with you. You'd have to follow in his footsteps and get appointed if you'd like that 100% for yourself.

Ray, that was exactly what I was looking for. You hit the nail on the head. Thank you!
 
You will need to get appointed with all carriers in the exchange.....FYI - not all carriers are granting new appointments. Good luck
 
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