Cigna Cuts IFP Comp to 0% 4th Quarter Biz

[Dave020]

Wonder what the "to be announced" 2016 commission rates will be.

Please be advised that we are adjusting our Cigna Individual and Family Plan medical commission schedules effective September 1, 2015. Sales submitted on/after August 22nd for September 1st through December 31st effective dates will earn 0% commission. Commission schedules have been updated on the portal. This decision only impacts business submitted with effective dates of September 1st through December 31, 2015. Business for 2016 will be paid at posted commission rates that will be announced prior to the 2016 Open Enrollment Period.

 

[AllenChicago]

Looks like they've taken their California experiment nationwide, and expanded it to include all metal levels. Not just Gold and Platinum. Maybe this was a part of the slave-master deal between Cigna(slave) and Anthem(Master).

 

[bluediamond]

Gotta cut before Anthem takes over.

 

[FLM2]

There goes my recent positive thoughts on this market, screw them...

 

[Yagents]

Do you think the timing of the merger and commission announcements are related? Or independent of one another.

Didn't Cigna pull this lever 4th qtr last year as well?

 

[FLM2]

Do you think the timing of the merger and commission announcements are related? Or independent of one another.

Didn't Cigna pull this lever 4th qtr last year as well?

Just Gold and Platinum last year:



Commission Changes

08/05/2014


Commission Changes for 9/1/14 through 12/31/14.


Regarding Cigna's Gold and Platinum plans, please be advised that for new Individual and Family Plan cases with effective dates from September 1, 2014 to December 15, 2014, Cigna will not pay commissions on the medical portion of those plans. This applies to both on-exchange business as well as off-exchange business. We will continue to pay commissions as usual on the dental portion of these sales. Note, there is no change to the commission level for Bronze and Silver plans or to any of your existing medical plans written prior to 9/1/14.

 

[GreenSky]

Wonder how much longer any carrier pays commission for IFP. Agents won't have a place soon.

Rick

 

[somarco]

Gotta cut before Anthem takes over.

True. After getting 0% from Cigna 0.5% from Anthem will look great.

Didn't Cigna pull this lever 4th qtr last year as well?

Cigna has been playing tricks with commissions going back to at least 2013.

 

[YouGotMyMoney]

Wonder how much longer any carrier pays commission for IFP. Agents won't have a place soon.

Rick

I guess we'll have to take your medicare clients then Rick.

 

[GreenSky]

I guess we'll have to take your medicare clients then Rick.

Both of them?

Rick