Guranteed Issue ---Med. Sups Commissons?

[Mike Siegal]

Hi Friends...Question from a Newby,

I'm Not sure if what i read was correct about comm. on Guaranteed Issue med.sups. BUT I was reading on another post, that during the GI period for Med.Sups, the comm is lower???

QUESTION(s):

1. Are Med.Sup commissions "lower" during the Guaranteed Issue Period?
2. If so, how much are Med.Sups comm. (in general) during the GI period?
3. If i'm mistaken, are there "ever" situations when a lower commission is paid on Med.Sups?

Thanks for any constructive input you can offer...(waiting for my FMO guy to get back to me)

 

[somarco]

Most carriers pay $0 - $25, one time, on GI apps.

 

[Mike Siegal]

Most carriers pay $0 - $25, one time, on GI apps.

Thank you for responding.

1. I thought it was a percentage (18-22%).
2. Is there any truth to that rumor of GI period paying less?
3. Paying "$0"---in what circumstance would there be 0 comm.?

Thanks!

 

[sman]

Thank you for responding.

1. I thought it was a percentage (18-22%).
2. Is there any truth to that rumor of GI period paying less?
3. Paying "$0"---in what circumstance would there be 0 comm.?

Thanks!

1 - Commissions are typically in the range you listed on underwritten and open enrollment business

2 - Bob already answered your question about commissions in GI situations. Why ask it again? Did you not like his answer? It isn't going to change just because you ask it again. Most carriers pay $0 or $25 on GI business.

3 - See #2. In a GI situation is a circumstance in which some carriers pay $0

 

[goillini52]

Hi Friends...Question from a Newby,

I'm Not sure if what i read was correct about comm. on Guaranteed Issue med.sups. BUT I was reading on another post, that during the GI period for Med.Sups, the comm is lower???

QUESTION(s):

1. Are Med.Sup commissions "lower" during the Guaranteed Issue Period?
2. If so, how much are Med.Sups comm. (in general) during the GI period?
3. If i'm mistaken, are there "ever" situations when a lower commission is paid on Med.Sups?

Thanks for any constructive input you can offer...(waiting for my FMO guy to get back to me)

1. Depends on your state, but inmost cases...yes.

2. Depends on your state and the company. Some companies pay $0. Many have a one time payment of $25. Some pay a lower % like 5.25% or 10%. I know of one that pays full commission in my state, but not in others.

3. Most companies pay a lower commission for those 80 years old and older...usually 10% or less. Most companies pay less for U65 Med Supps, ranging from 0% - 10%. I have one company that pays full commission for U65.

 

[JimmyUt]

Hi Friends...Question from a Newby,

I'm Not sure if what i read was correct about comm. on Guaranteed Issue med.sups. BUT I was reading on another post, that during the GI period for Med.Sups, the comm is lower???

QUESTION(s):

1. Are Med.Sup commissions "lower" during the Guaranteed Issue Period?
2. If so, how much are Med.Sups comm. (in general) during the GI period?
3. If i'm mistaken, are there "ever" situations when a lower commission is paid on Med.Sups?

Thanks for any constructive input you can offer...(waiting for my FMO guy to get back to me)

I think you may be confused as to the difference between GI and open enrollment, hence the answers you received. They are two entirely different things.

 

[jdeasy]

Hi Friends...Question from a Newby,

I'm Not sure if what i read was correct about comm. on Guaranteed Issue med.sups. BUT I was reading on another post, that during the GI period for Med.Sups, the comm is lower???

QUESTION(s):

1. Are Med.Sup commissions "lower" during the Guaranteed Issue Period?
2. If so, how much are Med.Sups comm. (in general) during the GI period?
3. If i'm mistaken, are there "ever" situations when a lower commission is paid on Med.Sups?

Thanks for any constructive input you can offer...(waiting for my FMO guy to get back to me)

Open enrollment pays full commission. In most state GI pays less. In Ky we don't have any company that pays full commission on GI business.

I just wrote two Aetna GI med sups. I will be paid .75% commission on those for as long as they have them or 6 years.

Had I wrote them with Equitable I would have been paid a one time $25 fee on each.

Most of the companies fall in that range for GI business. Very low commissions or a one time fee. In this state. In Indiana they are prohibited from doing that so I get paid on GI business there just as though it was underwritten or open enrollment.

 

[vic120]

Cigna I know pays Full in SC, MO ILL & TN

I believe SC & TN are always full pay all companies

I have not written GI with any other company this year and don't write too many
But I am sure I wrote a year or 2 ago with Aetna and Mutual and got half commission Has this changed?

 

[somarco]

Aetna changed their comp on GI last fall or late summer. JD said it is 0.75%. I thought it was 0.25%. Regardless, it isn't worth pursuing. At least not to me.

 

[jdeasy]

Aetna changed their comp on GI last fall or late summer. JD said it is 0.75%. I thought it was 0.25%. Regardless, it isn't worth pursuing. At least not to me.

They changed it a few months ago to .75% in the states where they could. There may be some .25% out there but I'm supposedly at .75%?