Captive Medicare Advantage Agent Salary

[Northeast Agent]

It's all over the place. I started out at a call center making $12.65 an hour, no commission, bonuses, etc. The staffing agency I worked for didn't offer benefits, either but I was part time seasonal during AEP.

I talked to a territory manager for a regional carrier recently and was told they earn around $70,000 with their bonus, but they also get benefits.

 

[Melo5457]

Northeast, l wonder what is this person salary minus the bonus?

 

[AcemanX007]

I generally see $2,000-$3,000 a month as salary for captive career agents. Some companies offer health insurance, paid vacation, mileage and tuition reimbursement as well as 401k. Some are paid a stipend as a 1099 contractor, some W2 as direct employees.
With those offering benefits and salary, there could also be a reduction in overall commission.

 

[vic120]

It's all over the place. I started out at a call center making $12.65 an hour, no commission, bonuses, etc. The staffing agency I worked for didn't offer benefits, either but I was part time seasonal during AEP.

I talked to a territory manager for a regional carrier recently and was told they earn around $70,000 with their bonus, but they also get benefits.

Wow, $12.60 no commision, What was the motivation?

I could not imagine what it feels like to sell something, anything without commision or bonus or any reward for sale

 

[JaBrooklyn]

In NYC, they get $40-90K basically plus commission. Also have seen many agents that reach their monthly goal consistently and still get laid off...One plan change can end it and then your entire (book) or lack of book goes out the door.

 

[keese]

Most captive agents at private brokerages probably make between $10-20/hr +bonuses/commissions depending on how much they're selling vs how much they're servicing the client base. Captive agents/sales managers at larger insurance companies (Humana, Mutual of Omaha, etc) probably make more than that, probably $50k-$80k+bonuses but the pressure is significantly higher in those types of positions.

 

[timeflies]

Deciding whether or not to becomee a captive agent depends on your level of sales experience and if you have Medicare Advantage and Medigap product knowledge. I have held several captive positions. For an experienced agent, you cannot beat being independent and experienced agents will make twice as much. From my years of experience, many captive agents make approximately $50,000 to $60,000. Humana pays its agents what they call perpetuity, which is a much less version of renewals, but they offer great training, leads and other employee benefits. After a while, a Humana agent can make into 6 figures. You might want to look into United Health Care's 1099 Independent Career (ICA) agent opportunities. They offer great training, leads and you keep your book if you become a broker. Brokers can make a lot more than captive agents, but you will not likely get the same level of support as would being a captive agent. Life is filled with tradeoffs.