They Are In ! 2009 CMS approved rates posted

retread · 11-15-2008, 05:24 PM

I went to pick up my wife at work, came back and just checked my email. WOW! The rates are in, and it looks good, at least for me. My Coventry rate is UP! UHC rate not so much, and I won't go into the others, but check your own carriers! Woo-Hoo!

The Hunter · 11-15-2008, 08:21 PM

Retread I' m happy for you ,but would you mind sharing the dollar amounts

mking · 11-15-2008, 09:14 PM

The larger commissions are for aging-In ONLY......ALL changes for 2009 only get renewal commisions.....even switches to a new company...........really not that good from my perspective, based on the time spend (include the dam certification exams) and my EXPENSES to market proppects...Going forward I will ONLY market to aging-IN people.......and may even throw in the towel for them too!

policy doctor · 11-15-2008, 10:24 PM

I just read one of my carriers bulletin and these commis rates have to be approved by CMS. So it's not a final approval!

And we will be paid renewal rates upon submission until verificiation of a new sale or replacement.

retread · 11-15-2008, 10:26 PM

Originally Posted by The Hunter

retread I' m happy for you ,but would you mind sharing the dollar amounts

Sorry, there are already several threads on commission rates for 2009 so I didn't want yet another one. I just wanted to let everyone know that the announcements are out.

You should really check your own carrier's info that should come to you in an email. If not, look at the other threads.
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Originally Posted by mking

the larger commissions are for aging-In ONLY......ALL changes for 2009 only get renewal commisions.....even switches to a new company...........really not that good from my perspective, based on the time spend (include the dam certification exams) and my EXPENSES to market proppects...Going forward I will ONLY market to aging-IN people.......and may even throw in the towel for them too!

Boy, some people will kick even if they are hung with a new rope!

We are going to get full commissions for all new MA enrollees. We may have to take in halves, but the flip side is: we could be Humana agents! (yech!) If the enrollee already has an MA plan, yes, we will not get the full Monty up front, but we will bring in more over the long haul. I don't know about you, but I see getting $1200-$2300 (depending on the carrier and product) per ap with renewals over 6 years better than $400-$500 next month and little or no renewals.

What is it about not having to run down new enrollees versus servicing what you already have that you don't see as a benefit?

MedSuppPro · 11-15-2008, 10:49 PM

Originally Posted by mking

the larger commissions are for aging-In ONLY......ALL changes for 2009 only get renewal commisions.....even switches to a new company...........really not that good from my perspective, based on the time spend (include the dam certification exams) and my EXPENSES to market proppects...Going forward I will ONLY market to aging-IN people.......and may even throw in the towel for them too!

I wounder how many agents think they are getting the "Initial Year"? And how many will take the time to look at the PDP for a Buck 66 a month! A $1.66 for a PDP. I'm out!

And as far as the age ins.

That will be one ugly seen!
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padthaiforlunch · 11-16-2008, 01:08 AM

So glad I don't work the senior market....

policy doctor · 11-16-2008, 08:24 AM

Originally Posted by padthaiforlunch

So glad I don't work the senior market....

Well yes, this market is getting more controlled by the year. As has been stated before, the senior is America's SACRED COW. But over-regulation of the free-market system (lol) is
Stifling the economy overall.

mking · 11-16-2008, 10:01 AM

I agree with you that we will possably make more over the long haul..........However based on the changes this year in regards to plans changing benefits and cost do you really thing that ALL your current clients will stay with the SAME plans for 5 years??.......When their plan goes South they will call you and you may have to start from scratch explaining the plan, checking RX drugs they use, see if their doctors take the plan, do all the new paperwork, take time from your day and then YOU will breakeven on renewal commissions...A lot of work for no NEW commision......I wish I was wrong, I like this market...........But thats how I see it.......becasue I am already doing this example THIS year!

Originally Posted by retread

Sorry, there are already several threads on commission rates for 2009 so I didn't want yet another one. I just wanted to let everyone know that the announcements are out.

You should really check your own carrier's info that should come to you in an email. If not, look at the other threads.
- - - - - - - - - - - - - - - - - -

Boy, some people will kick even if they are hung with a new rope!

We are going to get full commissions for all new MA enrollees. We may have to take in halves, but the flip side is: we could be Humana agents! (yech!) If the enrollee already has an MA plan, yes, we will not get the full Monty up front, but we will bring in more over the long haul. I don't know about you, but I see getting $1200-$2300 (depending on the carrier and product) per ap with renewals over 6 years better than $400-$500 next month and little or no renewals.

What is it about not having to run down new enrollees versus servicing what you already have that you don't see as a benefit?

Bob_The_Insurance_Guy · 11-16-2008, 10:07 AM

Perhaps I'm blocked from this, but I will reiterate my previous post. Did anyone see any compensation plans from CIGNA?

retread · 11-16-2008, 10:31 AM

Originally Posted by mking

I agree with you that we will possably make more over the long haul..........However based on the changes this year in regards to plans changing benefits and cost do you really thing that ALL your current clients will stay with the SAME plans for 5 years??.......When their plan goes South they will call you and you may have to start from scratch explaining the plan, checking RX drugs they use, see if their doctors take the plan, do all the new paperwork, take time from your day and then YOU will breakeven on renewal commissions...A lot of work for no NEW commision......I wish I was wrong, I like this market...........But thats how I see it.......becasue I am already doing this example THIS year!

I think you are missing a really big point. Perhaps you have clients climbing over the fence to come see you, but I don't. It takes a lot of $ and time to chase down prospects. If I already have an existing business relationship with a client, I count that as an asset.

scottfree · 11-16-2008, 12:23 PM

Originally Posted by mking

However based on the changes this year in regards to plans changing benefits and cost do you really thing that ALL your current clients will stay with the SAME plans for 5 years

One thing that everyone is forgetting when talking about having a current client on the same plan for 5 years. is that in 2011 all of us that have a large book of PFFS plans will have to move them to network plans and have to explain and help clients choose again for the same renewal. That is if things don't change to this plan sooner or if there will be a totally new type of Medicare plans with the new president.

I will keep in the mix for next year but if we have to deal with this BS at all next year(which we will) I will just not do it.

The Rabbi · 11-16-2008, 12:29 PM

Originally Posted by mking

I agree with you that we will possably make more over the long haul..........However based on the changes this year in regards to plans changing benefits and cost do you really thing that ALL your current clients will stay with the SAME plans for 5 years??.......When their plan goes South they will call you and you may have to start from scratch explaining the plan, checking RX drugs they use, see if their doctors take the plan, do all the new paperwork, take time from your day and then YOU will breakeven on renewal commissions...A lot of work for no NEW commision......I wish I was wrong, I like this market...........But thats how I see it.......becasue I am already doing this example THIS year!

You definitely should leave the senior market if it is that much work.

Me, I buy internet leads and qualify the people on the phone, email them a pkg with an app and SOB (I use mostly AARP plans if they want a PPO or supp). If they want it, they print out the app and fax it to me. Done deal. I've had it with the HMOs and the crummy agencies I have to work through. I believe the AARP clients will stick.

Frank Stastny · 11-21-2008, 11:42 AM

Hey,

I think most of you know how I feel about the whole commission thing with agents having to go through an FMO and the differences between what the FMO gets and what the agent gets. Especially when considering what the agents get in the way of "training" and "help" etc.

Isn't that what the FMO's are claiming is the reason for keeping so much of what they get and passing on a much smaller amount to the agent?

I discovered the other day that I have a pretty good contract with Pyramid. I knew it was above street level but I guess I didn't realize how much above. It was at that time that I also found out that I could offer contracts.

I can offer contracts at the Regional Managing General Agent level. I have been told the commissions are quite a bit higher than the "street level" that most agents are getting.

I haven't paid a lot of attention to all of that because I only sell PDP plans. I don't offer PFFS plans in rural Missouri and I no longer sell in St. Louis or KC.

The commission levels that I can offer would be $500 MAPD and $450 for MA. Replacement commissions are slightly above 50%. Yes, I said above 50%.

I found out that I can also offer Coventry contracts above street level but I don't have the exact figures.

For Rick's benefit, no, the marketing organization I have my contract through does not give unconditional releases which means that I can't either.

However, if those figures are substantially higher than what others are offering I really don't care about getting a release. Where would I go to get a better deal if I did get a release?

What do you think? Should I post this in the Offers section?

retread · 11-21-2008, 02:59 PM

Originally Posted by Frank Stastny

Hey,

I think most of you know how I feel about the whole commission thing with agents having to go through an FMO and the differences between what the FMO gets and what the agent gets. Especially when considering what the agents get in the way of "training" and "help" etc.

Isn't that what the FMO's are claiming is the reason for keeping so much of what they get and passing on a much smaller amount to the agent?

I discovered the other day that I have a pretty good contract with Pyramid. I knew it was above street level but I guess I didn't realize how much above. It was at that time that I also found out that I could offer contracts.

I can offer contracts at the Regional Managing General Agent level. I have been told the commissions are quite a bit higher than the "street level" that most agents are getting.

I haven't paid a lot of attention to all of that because I only sell PDP plans. I don't offer PFFS plans in rural Missouri and I no longer sell in St. Louis or KC.

The commission levels that I can offer would be $500 MAPD and $450 for MA. Replacement commissions are slightly above 50%. Yes, I said above 50%.

I found out that I can also offer Coventry contracts above street level but I don't have the exact figures.

For Rick's benefit, no, the marketing organization I have my contract through does not give unconditional releases which means that I can't either.

However, if those figures are substantially higher than what others are offering I really don't care about getting a release. Where would I go to get a better deal if I did get a release?

What do you think? Should I post this in the Offers section?

I dunno, Frank. I like you the way you are. I can't see you becoming "Frank and Associates"! LOL

As to your commission offer... that's what I get direct now, so what are you going to offer to "sweeten the deal"?

Frank Stastny · 11-21-2008, 03:12 PM

Originally Posted by retread

I dunno, Frank. I like you the way you are. I can't see you becoming "Frank and Associates"! LOL

As to your commission offer... that's what I get direct now, so what are you going to offer to "sweeten the deal"?

Frank Ass? I already get called that a lot, figured I might as well try to make a buck if I'm going to get called that anyway.

Hi have a couple of goats that are going to have kids next month. How about one of them? However, I don't deliver.

retread · 11-21-2008, 05:30 PM

Originally Posted by Frank Stastny

Frank Ass? I already get called that a lot, figured I might as well try to make a buck if I'm going to get called that anyway.

Hi have a couple of goats that are going to have kids next month. How about one of them? However, I don't deliver.

May take you up on the offer. I made pocket change when I was a kid selling goat milk to ulcer patients... that was the therapy back in the 50's. My goat's name was "Annie"... she had such a big udder that it dragged the ground. I had to fashion a "bra" for her out of a burlap feed sack. When my mother saw it she almost died with hysterical laughter!

MedSuppPro · 11-21-2008, 05:35 PM

Frank,

What happened to you? I thought you were anti-Medicare Advantage. You've been into that scotch bottle again - haven't you? We all can get the same stinken level with Pyramid and besides what do you offer that the pig boys FMO don't already offer?

Frank Stastny · 11-21-2008, 06:38 PM

Originally Posted by MedSuppPro

Frank,

What happened to you? I thought you were anti-Medicare Advantage. You've been into that scotch bottle again - haven't you? We all can get the same stinken level with Pyramid and besides what do you offer that the pig boys FMO don't already offer?

Goats!

I'm not anti MA just anti PFFS for people who live in rural Missouri. If I still lived in St. Louis I would be peddling the HMO's along with the best of them.

I have no idea what the contract pays that I have with Pyramid, my "go to guy" said that commission levels above me were solidified yet. I'm guessing my level will pay $25 above what I'm offering. If mine is higher than $25 then I will offer more.

I'm really not doing it to get in the business of recruiting, just trying to offer something better if an agent isn't getting that much.

"They" are right, no good deed goes unpunished.

How many goats do you want?

MedSuppPro · 11-22-2008, 08:07 PM

I don't want green eggs and ham. Horses is what I am.

You Tube

[COLOR="Indigo"]I haven't paid a lot of attention to all of that because I only sell PDP plans. I don't offer PFFS plans in rural Missouri and I no longer sell in St. Louis or KC.[/COLOR]

-- FRANK

As far as St. Louis. Man, if I were you, I'd go east on I-70 and get off in St. Louis County. It has got to be a hot market for supp's.

As far as PDP's, I thought you sent your clients down to the local drug store?