BCBS Commissions in Missouri

[Duaine]

Attended a BCBS meeting today in Kansas City where we were told the 2014 commissions for their plans are as follows:

Individual Payer under age 65: 6% a shave of 3% off existing commissions.

Groups in the 1-50 Market sliding scale 9% down. A shave of 1% off current commissions.

Let the good times roll...

 

[dgoldenz]

Re: BCBS Commissions in Missouri & Kansas

6% of the entire premium or the unsubsidized portion?

 

[Yagents]

What about renewals???

 

[Duaine]

Re: BCBS Commissions in Missouri & Kansas

6% of the entire premium or the unsubsidized portion?

Well, they didn't say, but I would suppose that it is 6% of the total premium including the subsidy.
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What about renewals???

That wasn't mentioned. It was a presentation from the stage and no questions were asked so who knows?

 

[AllenChicago]

Re: BCBS Commissions in Missouri & Kansas

Insurance companies are allowed to keep 20% of premium for administrative overhead, which includes commissions. Since the premiums will be higher, that's MORE MONEY for health insurers to keep in 2014. ((i.e. 20% of $1,000 a month premium is $200, which is more than 20% of a $700 monthly premium ($140)).

Insurers who cut their commissions, while bringing in additional income are taking agents for fools and idiots. Their thinking is, "We could continue to pay the same 10% commissions, but those small-minded agents will be glad to get 6% of these higher premiums. Besides, our offices need redecorating, and we need a new pair of corporate jets, and a 9% COLA of our executive salaries."
-ac

 

[SamIam]

Re: BCBS Commissions in Missouri & Kansas

How can you guys not ask him?

 

[stuy119]

Re: BCBS Commissions in Missouri & Kansas

Another failure by agents. If you're so far behind in learning this stuff that you don't pay attention to running your business, you're not long for this career.

Any chance you can email him and ask?

 

[Duaine]

Another failure by agents. If you're so far behind in learning this stuff that you don't pay attention to running your business, you're not long for this career.

Any chance you can email him and ask?

Over 1,000 agents in the presentation so no forum for questions.

If you're implying by your post that I'm not long for this business you're wrong. I've been successful for over 24 years so run your own shop and leave your snarky comments to yourself.

 

[taterpeeler]

Re: BCBS Commissions in Missouri & Kansas

Over 1,000 agents in the presentation so no forum for questions.

If you're implying by your post that I'm not long for this business you're wrong. I've been successful for over 24 years so run your own shop and leave your snarky comments to yourself.

You did good dude. Thanks for the info

 

[LGilmore]

Re: BCBS Commissions in Missouri & Kansas

In WA so far blue cross is going with $17 pmpm for individual health coverage. So any increase in premium isn't going to reward the agent.