I'm asking again about commissions

honestagent · 02-17-2007, 07:54 AM

Greetings kind people,

I need your very very HONEST feedback again.

PLEASE.

The decision I am presently contemplating will either make or break me.

I am asking what MA companies are paying on time????

I am running on a deficit momentarily. Look, bottom line is this: I know I'm going to go out there and right a ton of business. I KNOW I CAN. I live hours from the territory (and I have A LOT OF LEADS, REFERRALS, ETC.ETC. in that territory, which is why I go there.) However, that costs money to go and meanwhile, I have bills to pay, like we all do. And I CANNOT afford to wait X # of months to be paid. I'm barely surviving right now since I have not seen steady liquid come in from the AEP.

I was told we would be paid by Dec. / Jan. It's almost flippin MARCH!!!!! :shock:

So, kind people, I implore you to please share what MA companies are paying promptly (meaning... within the following month or okay, I'll go two months at best) but certainly not over 3 months to be paid ( and not knowing which month we or I will be paid) !!!!!!

I DON'T WORK FOR FREE! NONE OF US DO - OR WE SHOULD NOT FEEL LIKE WE DO!

My last thought is on Pacificare / Secure Horizons. One poster was kind enough to share his/her experience on pay. Can anybody else please ellaborate? I do not want to assume that because one agent is getting paid on time that all agents are getting paid on time.

Your feedback will HELP ME choose most prudently how to orchestrate my time most efficiently and plan my finances accordingly. I am very uncertain which method to choose how to run these appointments - if I even continue, sadly I am saying. I am sadly saying because I cannot afford, again, to wait endless months to be paid on these cases. I just can't.

So if you know, I am asking that you please share what you've personally experienced or personally know other fellow / friend agents' experiences.

Again I thank thank thank you in advance.

Honest

sman · 02-17-2007, 09:25 AM

The majority of my MA business has been with Today's Options (Pyramid Life) and Coventry (Advantra Freedom). They are Johnny on the spot when it comes to paying commissions. Usually it's within the next week after it is submitted. SecureHorizons just isn't competitive in my area this year so I haven't written anything with them. I have written some with Universal Healthcare (Any, Any, Any) and Care Improvement. I have yet to be paid from either carrier.

With that said, I don't believe you should write a product because it pays commissions quickly. I believe you do what's right by the client. I have no idea how competitive Today's Options and Advantra Freedom are in your area. But if they are competitive, that's who I'd write.

I just checked my bank account online and see that I was paid for two cases I wrote with Today's Options on 02/12/07. The money was deposited on 02/16/07. I enrolled the cases online and completed the verification call right after I did the enrollment. So it took 5 days to get paid (counting the day of enrollment). Not bad if you ask me.

Arno · 02-17-2007, 03:38 PM

I have recieved my checks for care improvement plus yesterday for my 12/1 business. Working with wellcare payment also seems to be slow, but steady? I have been paid on 8 enrollments from dec. I wouldn't call this fast at all. But I was new and had no idea what to expect. I had no idea what to expect and now we are paying down credit cards finally.

honestagent · 02-18-2007, 02:21 AM

Wow, over 40 views and 2 replies?!?!?

:?

Here's a very special thank you for the two people who took the time to share about their commission experiences.

I thank you very much.

Honest.

*midwestbroker* · 02-18-2007, 10:15 AM

You cannot expect each person who reads a post to reply. I am sure that there are many out there that are just looking, and have no experience on the subject. I would not expect them to post. I am sure we have looked at posts and not replied. Could you imagine the clutter that would cause if each person did post a reply?!?

What does Wellpoint pay on? Is it the 2nd month after the effective date or on submission? Do you have a contact at Wellpoint for payment / agent support?

honestagent · 02-18-2007, 10:04 PM

Originally Posted by midwestbroker

You cannot expect each person who reads a post to reply. I am sure that there are many out there that are just looking, and have no experience on the subject. I would not expect them to post. I am sure we have looked at posts and not replied. Could you imagine the clutter that would cause if each person did post a reply?!?

You have raised some very valid points. I agree. Thanks.

*midwestbroker* · 02-19-2007, 09:39 AM

Have you talked to the Wellpoint person here? I am guessing that you have, but what did he say?

furlover · 02-19-2007, 06:47 PM

I have heard of several agents having problems being paid on MA's so, you are not alone.

I have been especially interested since I want to specialize in the senior market.

Apparently it is a product specific problem. New companies understaffed and CMS dropping the ball as well.

Hope that helps. It is definitely not just you!

Linda

*midwestbroker* · 02-19-2007, 07:46 PM

One thing to check Honest is to make sure that the members who you have enrolled actually got coverage. If they made too many elections this year, then the last plan they applied for will be void.

I had a case where someone made an election in January to a different plan. I took an app on them this month and it was rejected due to the fact they can only make 1 change in OEP.

honestagent · 02-20-2007, 07:06 AM

Thanks a lot Midwest and Linda,

Yes. I have called. "It's being processed and we're cutting checks each week." This is the infamous phrase I keep hearing.

Apparently, my name is not on the roster nor has been for some time.

I'm just laughing right now. It's all I can do, momentarily.

Thanks for the helpful suggestions.

johnrocks · 02-23-2007, 05:33 PM

I HAVE ENROLLED SEVERAL SENIORS WITH UNIVERSAL AND CAN HONESTLY SAY I HAD NO PROBLEM GETTING PAID UNTIL RECENTLY I HAVE HAD SEVERAL PEOPLE CALL AND COMPLAIN ABOUT NOT RECEIVING THEIR CARDS YET AND IT HAS NOW BEEN 40 DAYS SINCE MY LAST PAY PERIOD I AM PROBABLY DONE WITH THESE PEOPLE

healthagent · 02-23-2007, 05:39 PM

THANK YOU FOR YOUR POST!

sman · 02-23-2007, 08:30 PM

ABSOLUTELY!!!! WE REALLY DO APPRECIATE IT. NEXT TIME, DO YOU MIND SPEAKING A LITTLE LOUDER?

johnrocks · 02-25-2007, 03:04 PM

Lol please forgive me

senior-advisor-indiana · 03-14-2007, 11:47 PM

I havent got paid from todays options and it has been 3 weeks. i'd like to know how u get paid that fast

sman · 03-15-2007, 08:26 AM

Originally Posted by senior-advisor-indiana

i havent got paid from todays options and it has been 3 weeks. i'd like to know how u get paid that fast

Are you submitting paper applications or doing the enrollment online? Secondly, are you completing the verification phone calls (they will not pay commissions if the verification call wasn't completed)? I can honestly say, I have not had a sinlge issue with Pyramid Life paying commissions.

I don't know if a paper application takes longer than online enrollment as far as getting paid commissions, but I submit everything online. And I complete the verification call immediately (when enrolling someone online, you can input the verification number when completing the application).

Also, are your commissions to be paid direct or are they being paid to an FMO first? This could be another issue in the delay. And lastly, was the person approved for coverage? If not approved, you won't get paid.

senior-advisor-indiana · 03-15-2007, 02:56 PM

They have thier packets and cards, so i assume they are approved and i get my money direct deposit so i dont know if i comes from pyramid or sms. and yes it was paper app and i faxed it in

sman · 03-15-2007, 03:16 PM

Originally Posted by senior-advisor-indiana

they have thier packets and cards, so i assume they are approved and i get my money direct deposit so i dont know if i comes from pyramid or sms. and yes it was paper app and i faxed it in

I'd give Pyramid Life a call.

senior-advisor-indiana · 03-16-2007, 01:40 PM

I MUST BE AN IDIOT! I called pyramid and they said i had to do the verification call. I thought that you only had to do that if you enrolled them online. Whats the point of the verification call?

*midwestbroker* · 03-16-2007, 03:05 PM

Verification call is where you hand the phone to the client, they ask if you went over the materials, they understand that this is not a supplement, and they know the AEP periods. Basically a CYA call for the insurance carrier.

I know that Pyramid and Humana both do them. That way if the client says "The agent told me this was a supp" they can replay the recording and say nope.