delayed commission payments for MAPD

[MSLLC]

I got two emails today referencing this issue:
From Ritter - "With the changing market and delayed carrier payments, now is the time to explore additional revenue streams."
From Think Advisor - SelectQuote was quoted, one of the big Medicare plan issuers it represents has changed its commission payment schedule, and that has forced the company to adjust its Medicare plan sales strategy for the upcoming annual enrollment period, company executives told securities analysts Friday.

Does anyone know what they are talking about?

 

[rmhaire]

Does anyone know what they are talking about?

Yep. They're both going through a market correction.

Ritter is trying to protect their bottom line by pushing interest in other lines. FE, Annuities, Life, etc. All FMOs are doing it.

They know that they're going to make a lot less next year in overrides on MA and are simply trying to make up the difference.

Same thing with SelectQuote except the word on the street is that they're having financial problems as well.

MA is going through a market correction just like real estate and the financial markets. The insurance industry is not immune.

Never put your eggs in one basket and look for other ways to skin the cat.

Unless you're in Ohio then you might want to bring the cat inside.

 

[T Sparks]

Yep. They're both going through a market correction.

Ritter is trying to protect their bottom line by pushing interest in other lines. FE, Annuities, Life, etc. All FMOs are doing it.

They know that they're going to make a lot less next year in overrides on MA and are simply trying to make up the difference.

Same thing with SelectQuote except the word on the street is that they're having financial problems as well.

MA is going through a market correction just like real estate and the financial markets. The insurance industry is not immune.

Never put your eggs in one basket and look for other ways to skin the cat.

Unless you're in Ohio then you might want to bring the cat inside.

Speaking of Cats...one almost got a Dawg this past weekend!

 

[rmhaire]

Speaking of Cats...one almost got a Dawg this past weekend!

Correction. Those cats scratched up a lot of Dawgs the other night.

But BTW. Those damn Rocky Tops are looking pretty good.

 

[MedicareWAA]

Yep. They're both going through a market correction.

Ritter is trying to protect their bottom line by pushing interest in other lines. FE, Annuities, Life, etc. All FMOs are doing it.

They know that they're going to make a lot less next year in overrides on MA and are simply trying to make up the difference.

Same thing with SelectQuote except the word on the street is that they're having financial problems as well.

MA is going through a market correction just like real estate and the financial markets. The insurance industry is not immune.

Never put your eggs in one basket and look for other ways to skin the cat.

Unless you're in Ohio then you might want to bring the cat inside.

SQ is talking about a carrier moving to overrides paid as earned, not up front. The call centers have shit retention. In the past, there were ways to pocket the entire (high) override and soft money even when the policy only stuck for 91 days.

 

[AgentGeneral]

Yep. They're both going through a market correction.

Ritter is trying to protect their bottom line by pushing interest in other lines. FE, Annuities, Life, etc. All FMOs are doing it.

They know that they're going to make a lot less next year in overrides on MA and are simply trying to make up the difference.

Same thing with SelectQuote except the word on the street is that they're having financial problems as well.

MA is going through a market correction just like real estate and the financial markets. The insurance industry is not immune.

Never put your eggs in one basket and look for other ways to skin the cat.

Unless you're in Ohio then you might want to bring the cat inside.

Yes, that .... they are not easy going on this...they do feel changes are coming. Big ones.

 

[MSLLC]

Thanks. Most of us here probably prefer As Earned, the CC will hate it for sure. Do you know which carrier made the change?

 

[DonP]

Slow changes in the air but acceleration coming . I know for a fact several bigger carriers have not released marketing money yet . I’m sure regardless of cms next yr overrides get chopped hard I’m betting . The gold rush of mapd is over, now comes the part in the coming 2 years were there’s a slimming of the herd in carriers , plans , overrides , commissions etc

 

[Special Agent]

Slow changes in the air but acceleration coming . I know for a fact several bigger carriers have not released marketing money yet . I’m sure regardless of cms next yr overrides get chopped hard I’m betting . The gold rush of mapd is over, now comes the part in the coming 2 years were there’s a slimming of the herd in carriers , plans , overrides , commissions etc

Damn should have sold my book last year.

 

[ValeRosso]

Got the same email, I'm done with Ritter after AEP.