How Do Mapd Plans Pay Commissions

[azmedsupagent]

Sounds like a lame question but I seriously have no idea. I have always been captive and am now preparing to go indy and add MA to my tool box. More specifically I am wondering if they pay first year commission on submit or issue. And for renewals do they pay all renewals due that month all at once in one lump sum or do they come in as earned over the course of a year.

Example: If I write a policy that had an effective date of jan 2012 will I get all 200 in renewals in jan of 2013?

 

[Chazm]

Sounds like a lame question but I seriously have no idea. I have always been captive and am now preparing to go indy and add MA to my tool box. More specifically I am wondering if they pay first year commission on submit or issue. And for renewals do they pay all renewals due that month all at once in one lump sum or do they come in as earned over the course of a year.

Example: If I write a policy that had an effective date of jan 2012 will I get all 200 in renewals in jan of 2013?

Every company is different but the norm is $413 for new to Medicare clients and $207 renewals. Starting on month 13 you usually get $207/12.

I do have one company that pays the full $207 on month 13 though and most will pay the first year commission about 2-3 weeks after you submit

 

[wehotex]

Sounds like a lame question but I seriously have no idea. I have always been captive and am now preparing to go indy and add MA to my tool box. More specifically I am wondering if they pay first year commission on submit or issue. And for renewals do they pay all renewals due that month all at once in one lump sum or do they come in as earned over the course of a year.

Example: If I write a policy that had an effective date of jan 2012 will I get all 200 in renewals in jan of 2013?

Some of them will pay a "lump sum" and some pay "as earned".
My HealthNet and Healthspring contracts both pay the "lump sum" option upon 13th month while the rest pay "as earned."

 

[Guest]

Only MAPD plan I ever sold was with UHC.

With them first year is advanced. Years 2 - 5 are as earned.

 

[Midlevel]

Very slowly..........................

 

[Chazm]

Very slowly..........................

Pay faster than my med supps

 

[bpenn9]

Only MAPD plan I ever sold was with UHC.

With them first year is advanced. Years 2 - 5 are as earned.

2-5 as earned? don't you mean 2-10!

 

[Guest]

yes 2-10 as earned.
I get paid quickly from uhc, i i faxed in mapd last week and got paid today.
Med supp are ridiculously slow, they sent an email out that upon issue we would be paid but still waiting for supp money since Nov.

 

[BeeSelective]

Weakly..........!


Got to have more character? How do they know me? hahahaha

 

[Midlevel]

American Continental pays commissions quickly on Med Sups, a couple days after they are issued. Now getting them issued is a whole different story although UW has been quicker this last month.