Another Commission Question

[Trent]

The MA plans pay for a total six years, if on the 7th year the insured goes to another agent and company. Does the cycle start over again with five more renewal commissions?

It could be interprerted once commissions have been paid to any agent for a total of 6 years no commision would be paid on that Medicare number.

 

[MedSuppPro]

The MA plans pay for a total six years, if on the 7th year the insured goes to another agent and company. Does the cycle start over again with five more renewal commissions?
It could be interprerted once commissions have been paid to any agent for a total of 6 years no commision would be paid on that Medicare number.

The only way you will get a total of six years will be for "Initial Enrollments" (yet to be defined).

1 year of first year + 5 renewal years = 6 total

If you replaced another MA and or PDP plan, then you will get 5 renewal years = 5 total

It could be interprerted once commissions have been paid to any agent for a total of 6 years no commision would be paid on that Medicare number.

Yes, after 5 or 6 years, Medicare will track the agent tied to each Medicare number and they have promised to notify the carrier.

I'm not a lawyer, but, I heard there is a federal rule that could prohibit Medicare from doing this.

 

[Russ]

The only way you will get a total of six years will be for "Initial Enrollments" (yet to be defined).

1 year of first year + 5 renewal years = 6 total

If you replaced another MA and or PDP plan, then you will get 5 renewal years = 5 total



Yes, after 5 or 6 years, Medicare will track the agent tied to each Medicare number and they have promised to notify the carrier.

I'm not a lawyer, but, I heard there is a federal rule that could prohibit Medicare from doing this.

So much for renewals down the road

 

[MedSuppPro]

So much for renewals down the road

So much for taking care of the client. So much for being consumer friendly. These people need real help! This is one sick CMS rule.

Hopefully, Tom Dashall will not be a pay to play director.

 

[patch36]

Does anyone else suspect that the insurance companies have something to do with this rule? I can see Humana and others lobbying for this kind of compensation rule.

 

[Russ]

Med-supps, for the most part, work the same way. I'm sure most on here know it, but after 10 years most companies pay the agent zero % commission.

Ten years is better then 5 though.

 

[MedSuppPro]

Med-supps, for the most part, work the same way. I'm sure most on here know it, but after 10 years most companies pay the agent zero % commission.

Ten years is better then 5 though.

The CMS term-limit is 5 or 6 years and your not able to find a better plan and be paid for your services. Your client is renting...

This is where the rubber meets the road. Some MedSupps stop after 10 years. Then If at any time your able to help your client find a lower premium your client remains your client. No government rule that prevents commerce.

No rule that says 5 or 6 years and your client has to sleep outside on a park bench in Fargo ND. Our clients want to pay us to help them with our advice. They are not counted as CMS looks at them and decides in favor of some non-consumer corporate friendly rule.

I never though a republican (small R) administration would do this. That is why I hold out hope. Hope for change!

 

[stormtracker]

I realize that I am getting old and my opinion of government is jaded, but in my humble opinion it is only a matter of time before CMS finds their way into med supp involvement like they are tainting MA's now. I remember in the mid 90's you had to be a captive (salaried) agent to sell the equalivalent of today's MA's. Now, all the signs are pointing towards things going that way again. So how to further reel in control of the senior health care market? Big Brother's got supps in their sights!!!