Do new to medicare Med Supp policies get paid a 2nd commission?

[jack3454]

Do new to medicare Med Supp policies get paid the same way as new to medicare MAPD policies? I was told by Humana that med supp polices do not get the “new to medicare” payment like MAPD does, just the percentage of the premium? I could have sworn I got this payment from previous Med Supps. Thanks

 

[axeman462]

Do new to medicare Med Supp policies get paid the same way as new to medicare MAPD policies? I was told by Humana that med supp polices do not get the “new to medicare” payment like MAPD does, just the percentage of the premium? I could have sworn I got this payment from previous Med Supps. Thanks

only the one commission, then renewals starting in year 2

Humana though, often runs Bonus Programs for medsupps. Where you can earn more money for selling the medsupps.

 

[jack3454]

I wonder why MAPD gets a new to medicare commission but Med Supp doesnt?

That bonus you mentioned is probably why I thought I got the 2nd commission, but it was just the bonus. Thanks for mentioning it.

 

[axeman462]

I wonder why MAPD gets a new to medicare commission but Med Supp doesnt?

That bonus you mentioned is probably why I thought I got the 2nd commission, but it was just the bonus. Thanks for mentioning it.

because MAPD is a government contracted product. The insurance company pays in a "True-up" fashion as part of their reconciliation process

medsupp i a totally private insurance. as a result true-ups are not necessary

 

[jack3454]

Ohhh good to know. Thanks for the info.

 

[sshafran]

Do new to medicare Med Supp policies get paid the same way as new to medicare MAPD policies? I was told by Humana that med supp polices do not get the “new to medicare” payment like MAPD does, just the percentage of the premium? I could have sworn I got this payment from previous Med Supps. Thanks

If new to Medicare and you write their PDP, you will get the double on the PDP (So, $50 + $50-new).

Also as others mentioned, med supps often have bonuses