I've written some with Blue Cross TN and they aren't worth the effort given how much follow up is required - especially considering that we'll have to jump through the same hoops next year. My intent is to take care of current clients or people that ask for coverage but not seek subsidized business.
What Commissions Are You Seeing for Individual Health
- Thread starter junkman
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What kind of follow-up problems are you having? Only issue I have had was getting the marketplace to cancel the old plan when a different plan was elected for 2015. Clients were getting two bills. This occurred with off-marketplace as well except I could go straight to Bcbs with that to deal with it.
- 4,707
Yes , but the good news is, after the open enrollment Feb 15th, you can spent the rest of the calendar year fighting with the insurance company to get paid.
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- 8,448
March 4, 2015
Someone stated in another thread today that ACA commissions "stink". With some companies, they really are terrible.
Personally, I only write health insurance for Blue Cross of Illinois, and Land of Lincoln Health, the state's new cooperative. These two companies have the lowest premiums and widest PPO networks in NE Illinois.
Here's a comparison of BCBS-IL commissions before ObamaCare was fully implemented in the Individual Insurance market (pre-2014), and what they are today.
Commission Percentages Before Metal and After Metal.
Before 2014, Blue Cross paid 10% year 1, & 5% level, starting in year 2.
Blue Cross now pays 6% / 6% / 6% years 1-2-3, and 4% level, starting in policy year 4.
Premiums Before Metal and After Metal.
Before 2014, the average BCBS family premium for a $5,000 HDHP was approx. $600 per month.
Now, the equivalent plan (Bronze) is around $1400 per month.
Commission Dollar Amounts Based on $600 and $1400 monthly premiums.
Pre 2014 Commission: $720 year 1, & $360 level, starting in year 2.
Now, $1,008 / $1,008 / $1,008 years 1-2-3, and $672 starting in policy year 4.
SUMMARY:
Five Year Income from pre-2014 sales: $2,160
Five Year Income from today's sales: $4,368
I don't have enough info to discuss the Land of Lincoln Health Co-op commissions. They say 5.5% level, but it's not in writing, and they've delayed the first commission run to "around" March 15th.
But the bottom line is that the actual BCBSIL commission dollar amount is higher now than it was before the "ObamaCare" plans became mandatory.
In addition, everyone in now required by law to have Major Medical coverage, most (?) Americans qualify for Premiums payment assistance, and we help the consumer "pick a plan" without any underwriting consideration whatsoever.
With today's higher deductibles, consumers are more likely to buy your recommended "gap" plans as well. That's another stream of income on top of the Major Medical compensation.
The ACA law is like one of those contraptions that have lots of movements (ball rolls, causing wheel to turn, causing water to pour, making boat float, etc..) just to turn on a damn light. It's overkill x1000!! But, it's made the health insurance industry a "no brainer" for increasing one's income. Much easier than the pre-metal days in fact. (In my experience, OK?)
-ac
Someone stated in another thread today that ACA commissions "stink". With some companies, they really are terrible.
Personally, I only write health insurance for Blue Cross of Illinois, and Land of Lincoln Health, the state's new cooperative. These two companies have the lowest premiums and widest PPO networks in NE Illinois.
Here's a comparison of BCBS-IL commissions before ObamaCare was fully implemented in the Individual Insurance market (pre-2014), and what they are today.
Commission Percentages Before Metal and After Metal.
Before 2014, Blue Cross paid 10% year 1, & 5% level, starting in year 2.
Blue Cross now pays 6% / 6% / 6% years 1-2-3, and 4% level, starting in policy year 4.
Premiums Before Metal and After Metal.
Before 2014, the average BCBS family premium for a $5,000 HDHP was approx. $600 per month.
Now, the equivalent plan (Bronze) is around $1400 per month.
Commission Dollar Amounts Based on $600 and $1400 monthly premiums.
Pre 2014 Commission: $720 year 1, & $360 level, starting in year 2.
Now, $1,008 / $1,008 / $1,008 years 1-2-3, and $672 starting in policy year 4.
SUMMARY:
Five Year Income from pre-2014 sales: $2,160
Five Year Income from today's sales: $4,368
I don't have enough info to discuss the Land of Lincoln Health Co-op commissions. They say 5.5% level, but it's not in writing, and they've delayed the first commission run to "around" March 15th.
But the bottom line is that the actual BCBSIL commission dollar amount is higher now than it was before the "ObamaCare" plans became mandatory.
In addition, everyone in now required by law to have Major Medical coverage, most (?) Americans qualify for Premiums payment assistance, and we help the consumer "pick a plan" without any underwriting consideration whatsoever.
With today's higher deductibles, consumers are more likely to buy your recommended "gap" plans as well. That's another stream of income on top of the Major Medical compensation.
The ACA law is like one of those contraptions that have lots of movements (ball rolls, causing wheel to turn, causing water to pour, making boat float, etc..) just to turn on a damn light. It's overkill x1000!! But, it's made the health insurance industry a "no brainer" for increasing one's income. Much easier than the pre-metal days in fact. (In my experience, OK?)
-ac
- 514
Just got a $200 bonus for selling Blue Cross Blue Shield off exchange plans!
And commissions paid without hassles.
No headaches ... no on exchange... ...sleeping well
And commissions paid without hassles.
No headaches ... no on exchange... ...sleeping well
- 1,199
Any agents writing UnitedHealthone in Fl know if it's possible to get better than what UHC pays for direct contract of 8 % ?
I believe UHC pays the same for on and off exchange plans.One benefit I see to selling on exchange plans with full subsidy is there is no premium to lapse -unless I am missing something?
jwk1257
Expert
- 51
anybody know or sell for USHEALTH ADVISORS?
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