Ohio - Med Supp - 5 Yr Comp?

[sshafran]

There is a med supp carrier here in OH paying years 1-5 @ 20% and years 6+ at 8% when contracting directly.

Seems odd.

Almost everyone else pays at least 6 years.

Hopefully not a trend...

 

[goillini52]

There is a med supp carrier here in OH paying years 1-5 @ 20% and years 6+ at 8% when contracting directly.

Seems odd.

Almost everyone else pays at least 6 years.

Hopefully not a trend...

Which one.............?

 

[sshafran]

Which one.............?

THP - The Health Plan - came up competitive for a few people so I checked out contracting with them....

 

[goillini52]

THP - The Health Plan - came up competitive for a few people so I checked out contracting with them....

Must be regional. The higher renewals years 6 on are almost meaningless, except for those with serious heath problems.

 

[ecotainer]

This is straight from Ohio's insurance regs: "(2) The commission or other compensation provided in subsequent (renewal) years must be the same as that provided in the second year or period and must be provided for no fewer than five renewal years."

The comp has to be for 6 years. Something is fishy.

 

[goillini52]

This is straight from Ohio's insurance regs: "(2) The commission or other compensation provided in subsequent (renewal) years must be the same as that provided in the second year or period and must be provided for no fewer than five renewal years."

The comp has to be for 6 years. Something is fishy.

I wonder how they'll look at Aetna's new Level for Life commission payout option. I can't imagine that many if any agents will opt for it...but it's there.

 

[sshafran]

This is straight from Ohio's insurance regs: "(2) The commission or other compensation provided in subsequent (renewal) years must be the same as that provided in the second year or period and must be provided for no fewer than five renewal years."

The comp has to be for 6 years. Something is fishy.

Ok, google isn't my friend tonight. Tried to find this...

Source?

 

[somarco]

Doesn't address the OH issue but this is interesting

http://csgactuarial.com/beta/wp-content/uploads/2013/09/Compensation.pdf

 

[goillini52]

Doesn't address the OH issue but this is interesting

http://csgactuarial.com/beta/wp-content/uploads/2013/09/Compensation.pdf

Interesting.

28% of Supps pay 22% street?

CSI Life now pays a set amount also.

 

[sshafran]

Interesting.

28% of Supps pay 22% street?

CSI Life now pays a set amount also.

Yeah, I'm not digging the set amount.

If you sell "JUST" CSI Life then it's cool. But who does that?