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Discussion on Humana commission within the Senior Insurance Forum, part of the Insurance Agents and Brokers Forum category.
Just Announced!!
Compensation for Delegated Agents for 2009 enrollments:
Medicare Advantage
$500 per sale (paid first month)
Renewals(beginning 13th month): ... |
10-15-2008, 02:16 PM
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#1
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Super Genius
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Just Announced!!
Compensation for Delegated Agents for 2009 enrollments:
Medicare Advantage
$500 per sale(paid first month)
Renewals(beginning 13th month): $42 pmpm years 2-5(includes product changes)
PDP
$10 per sale(paid first month)
Renewals: $10 annually years 2-5(same for plan changes)
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10-15-2008, 02:36 PM
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#2
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Guru
Join Date: Jul 2008
State: 
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Where did this come from? It isn't on the Humana company email yet that I have seen.
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Chuck
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10-15-2008, 04:41 PM
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#4
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Guru
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So, is that $500 for only new people to MA plans...or is it $500 per enrollment?
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I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. - Thomas Jefferson
www.mymidwestbroker.com
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10-15-2008, 04:53 PM
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#5
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Guru
Join Date: Jul 2008
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According to an 'unnamed source', within the Humana Management, it is for new to MA only. All existing MA will be paid the $250 renewal.
It is also not 'official' and has not been 'officially' released. They have 60 days to release compensation plans, and Oct 15 is not the required release date.
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10-15-2008, 10:42 PM
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#7
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Guru
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Just so I can verify this for myself and others...
If someone has a Today's Options plan and you switch them to Humana, that would be considered a renewal.
If they never had a MA plan, then it would be a new commission.
Am I correct in this?
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I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. - Thomas Jefferson
www.mymidwestbroker.com
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10-16-2008, 01:46 AM
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#9
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Expert
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Quote:
Originally Posted by patch36
According to an 'unnamed source', within the Humana Management, it is for new to MA only. All existing MA will be paid the $250 renewal.
It is also not 'official' and has not been 'officially' released. They have 60 days to release compensation plans, and Oct 15 is not the required release date. |
I learned today that MIPPA rules don't apply to turning 65 leads because they don't have Medicare yet.
I almost feel sorry for these prospects - they are going to get hammered with calls and mail from agents.
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10-16-2008, 06:07 AM
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#10
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Guru
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Quote:
Originally Posted by allhealthandlife
I learned today that MIPPA rules don't apply to turning 65 leads because they don't have Medicare yet.
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You could learn something else tomorrow. Sounds like a flaky interpretation of rules by a carrier or FMO trying to circumvent them. The marketing medicare products is releated to medicare products and does not change if it turns out that the person is not qualified by reason of age, not yet enrolled in original medicare etc.
I could be wrong but I just would be careful about thinking that you have "learned" something in this environment. It is almost all rumor mill and people stumbling to interpret or circument some ruling that was learned an hour ago from some marketer that is already to go this season not matter what the rules may turn out to be.
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Condoleezza Rice - The last real man left in the Republican Party
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10-16-2008, 10:06 AM
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#11
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Guru
Join Date: Jul 2008
State:
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As I understood, new to MA plans earn the agent first year commission. If they have an MA it is renewal commission. Age-ins are new to MA, thus first year commissions.
What they were worried about was the extreme amount of churning if it were first year commissions for all MA sales this year. The rule has been in place for several weeks now and is not being reinterpreted.
My information came from the carrier, not an upline. And it is not official until we see it in writing. I suspect the carriers are worried the rules will change and they do not want to commit to anything to hastily.
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10-16-2008, 11:27 AM
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#12
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Super Genius
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SO are you guys saying Southern Insurance, a brokerage house for Humana sent out this e-mail all on their own. So npbody will believe this until they hear it from their own FMO. Well, mine sent this out yesterday. And I can't believe that they were premature, I would certainly think they had the go ahead to release this from Humana.
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Just got off the phone with Southern Insurance. They tell me they have gotten lots of phone calls about the email they sent out. They say that is commission according to email they got from Humana. They also said, that it is $500 per app, regardless of if the person has a med supp or an existing MA.
If you don't believe me, call them yourself. And ask about email regarding commission.
Last edited by yeager : 10-16-2008 at 11:34 AM.
Reason: Automerged Doublepost
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10-16-2008, 11:38 AM
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#13
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Guru
Join Date: Jul 2008
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Not sure what you are asking, but when I asked an executive with the company yesterday afternoon about compensation, he said that it was not yet released. The figures you cite are probably correct, just not yet officially released by Humana or approved for release. It seems that if one is given 'permission' to release, all would be. It could also be that your 'Brokerage House for Humana' has special authority and status. I don't know, I am just repeating what I was told by a Humana Executive, that nothing is official at that time.
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10-16-2008, 11:50 AM
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#14
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Guru
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Quote:
Originally Posted by yeager
SO are you guys saying Southern Insurance, a brokerage house for Humana sent out this e-mail all on their own. So npbody will believe this until they hear it from their own FMO. Well, mine sent this out yesterday. And I can't believe that they were premature, I would certainly think they had the go ahead to release this from Humana.
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Just got off the phone with Southern Insurance. They tell me they have gotten lots of phone calls about the email they sent out. They say that is commission according to email they got from Humana. They also said, that it is $500 per app, regardless of if the person has a med supp or an existing MA.
If you don't believe me, call them yourself. And ask about email regarding commission. |
I had a Pyramid regional manager tell me on Sept. 30 that he had the '09 commission schedule sitting on his desk. He said I would be pleased with it, but, he could not release the information yet.
I would say that your folks have had the same info all along as well. It seems somebody let the cat out of the bag before they were given the go ahead.
I don't doubt the validity of the information. It's good to know what we are looking at for this season.
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10-16-2008, 12:01 PM
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#15
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Super Genius
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It doesn't matter to me what Humana is, as I will not sell any of those plans and have never sold a Gold Choice Plan. I just hope other companies fall in line close to that commission.
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I had a confernece call with Pyramid yesterday and they said they think it will be an exciting season. They also said they would release it to us late last night or today, neither has happened. This is on the career side though.
Last edited by yeager : 10-16-2008 at 12:04 PM.
Reason: Automerged Doublepost
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10-16-2008, 07:23 PM
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#18
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Expert
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Quote:
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Originally Posted by Winter | | | | | | | | | | | |
Humana commission
