Are you sure this first email is correct? Is it for renewal commissions or a bonus to the agency - a bonus for over 500 apps?
Renewals
- Thread starter mississippiagent
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- #12
mississippiagent
Expert
- 54
The contract is with the insurance company. I never signed a contract with the mga . No, there is not anything in the contract about renewals at all for 2008 year.
The contract for 2009 does spell out renewals at $200.00 which will be paid from Windsor.
No ones contract that I've talked with said anything about renewals, however they have all said that they did have a contact with their mga
except the group I was with. At this point I would not sign anything with her.
I've had no problem with Wellcare paying and they have major troubles.
yet they are paying .Of course I'm not with this agency with aything
but Windsor.
So today renewal monies was to go out. I don't know anyone that received any.
The contract for 2009 does spell out renewals at $200.00 which will be paid from Windsor.
No ones contract that I've talked with said anything about renewals, however they have all said that they did have a contact with their mga
except the group I was with. At this point I would not sign anything with her.
I've had no problem with Wellcare paying and they have major troubles.
yet they are paying .Of course I'm not with this agency with aything
but Windsor.
So today renewal monies was to go out. I don't know anyone that received any.
Any updates on this?
- Thread starter
- #15
mississippiagent
Expert
- 54
Hello everyone,
this is the e-mail from the company
We are getting many questions about renewals payments. We have begun paying out 2008 renewals to qualifying Brokers and MGA's. The key word is qualifying. Qualifying according to their 2008 Windsor Commission Addendums.
I want to address a couple recurring issues we are getting questions about.
First, if you received your commissions directly from a Managing General Agent (MGA)last year, the (MGA) is responsible for paying renewals according to your agreement with him/her. You should be aware that under the 2008 Windsor MGA contract to qualify for renewal payments a MGA must have 500 active members with Windsor as of April 1,2009. Unfortunately several failed to meet the requirement and are not receiving renewals from Windsor.
Second, if you received your commissions in 2008 directly from Windsor, you will receive your renewals directly from Windsor according to your Independent Producer Commission Addendum. As you should know, under the 2008 Windsor Independent Producer Commission Addendum to qualify for 2008 renewal payments a MGA must have 100 active members with Windsor.
Our first obligation is to pay those who met the requirements according to their 2008 contract. Next, because we have several independent producers and MGA's who have comeback and done a tremendous job for us this year under very difficult circumstances, we are going to re-visit their totals and possibly with the addition of their 2009 members meet the minimum qualifications.
Attached is a copy of the 2008 Independent Producer Commission Addendum for those whom we paid directly last year.
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The company said they would look at this again in maybe august or so ,because now they are busy with the list of cms first year comissions that are not correct and now we can wait on that money also
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this is the addendum that was attacted to e-mail
SCHEDULE OF COMMISSIONS ADDENDUM
A. New Business Commission
. A one time commission per enrolled member will be duethe writing Broker.This applies to all enrolling members accepted by the company and CMS who becomes an active member.
.The current commission schedule
Each sale= $350.00
B. Renewal Commissions
Qualification for receiving Rewnewal Commissions is 100 active qualifing renewing members
Renewal will be paid onactive plan members enrolled by the writing Broker who are in their second,third,and fourth plan year.Renewals are paid on the end of April Commission payout.
.The Gross Rewal payment schedule is as follows:
ACTIVE MEMBERS IN THIER SECOND,THIRD,AND FOURTH PLAN YEAR GROSS REWNEWAL RATE =$50.00
Qualifying Rewnewal Members who have been active without interruption in their second,third, and fourth year on date of the payout.
C. Commission Charge-Back
Commissions are based on a members continued enrollment for a minimum of 93 days and will be paid bi-monthly following the members effective date.Commissions on enrollments who disenroll between 63 and 93 days will be subject to a partial chargeback of 50%of all commissions/bonuses paid on enrollment. Members who disenroll after 93 days are not subject to charge backs.Current members are the property of the company.The company may change the charge back policy without prior notice,based on
actual disenrollment experience.
D. HOLDBACK
The company reserves the right to enforceholdback as outlined below if a Brokers,disenrolled,cancelledation,or rejected enrollment exceed 25%of applications submitted.
A comission holdback equal to 20% of the most recent three months' commissission will be applied as a reserveagainst chargebacks.This amount may be increased or decreased at the discretion of The Company based upon actual experience.The holdbacknreserve will be paid at the end of the chargeback period when the memberbhas stayed active for a minimum of three consecutive months.
THIS AGREEMENT MAY BE CHANGED AT ANY TIME AT THE COMPANIES DISCRETION AND WITH THE PIROR NOTICE TO THE BROKER.
this commission addendum shall become effective on the____ day of_________,20_____.
Broker:
Print name_________________________
Signature__________________________
Date______________________________
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noone has signed this, I didn't have a 350.00 contract I had a 450.00 Contract.
I did not think that you could dothis a year and a half latter.
But I been told that that can
I guess that that can do whatever they what...
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yes,It is like parkers mess
we really do need something to look out for the brokers out here that dose the work anyway
this is the e-mail from the company
We are getting many questions about renewals payments. We have begun paying out 2008 renewals to qualifying Brokers and MGA's. The key word is qualifying. Qualifying according to their 2008 Windsor Commission Addendums.
I want to address a couple recurring issues we are getting questions about.
First, if you received your commissions directly from a Managing General Agent (MGA)last year, the (MGA) is responsible for paying renewals according to your agreement with him/her. You should be aware that under the 2008 Windsor MGA contract to qualify for renewal payments a MGA must have 500 active members with Windsor as of April 1,2009. Unfortunately several failed to meet the requirement and are not receiving renewals from Windsor.
Second, if you received your commissions in 2008 directly from Windsor, you will receive your renewals directly from Windsor according to your Independent Producer Commission Addendum. As you should know, under the 2008 Windsor Independent Producer Commission Addendum to qualify for 2008 renewal payments a MGA must have 100 active members with Windsor.
Our first obligation is to pay those who met the requirements according to their 2008 contract. Next, because we have several independent producers and MGA's who have comeback and done a tremendous job for us this year under very difficult circumstances, we are going to re-visit their totals and possibly with the addition of their 2009 members meet the minimum qualifications.
Attached is a copy of the 2008 Independent Producer Commission Addendum for those whom we paid directly last year.
- - - - - - - - - - - - - - - - - -
The company said they would look at this again in maybe august or so ,because now they are busy with the list of cms first year comissions that are not correct and now we can wait on that money also
- - - - - - - - - - - - - - - - - -
this is the addendum that was attacted to e-mail
SCHEDULE OF COMMISSIONS ADDENDUM
A. New Business Commission
. A one time commission per enrolled member will be duethe writing Broker.This applies to all enrolling members accepted by the company and CMS who becomes an active member.
.The current commission schedule
Each sale= $350.00
B. Renewal Commissions
Qualification for receiving Rewnewal Commissions is 100 active qualifing renewing members
Renewal will be paid onactive plan members enrolled by the writing Broker who are in their second,third,and fourth plan year.Renewals are paid on the end of April Commission payout.
.The Gross Rewal payment schedule is as follows:
ACTIVE MEMBERS IN THIER SECOND,THIRD,AND FOURTH PLAN YEAR GROSS REWNEWAL RATE =$50.00
Qualifying Rewnewal Members who have been active without interruption in their second,third, and fourth year on date of the payout.
C. Commission Charge-Back
Commissions are based on a members continued enrollment for a minimum of 93 days and will be paid bi-monthly following the members effective date.Commissions on enrollments who disenroll between 63 and 93 days will be subject to a partial chargeback of 50%of all commissions/bonuses paid on enrollment. Members who disenroll after 93 days are not subject to charge backs.Current members are the property of the company.The company may change the charge back policy without prior notice,based on
actual disenrollment experience.
D. HOLDBACK
The company reserves the right to enforceholdback as outlined below if a Brokers,disenrolled,cancelledation,or rejected enrollment exceed 25%of applications submitted.
A comission holdback equal to 20% of the most recent three months' commissission will be applied as a reserveagainst chargebacks.This amount may be increased or decreased at the discretion of The Company based upon actual experience.The holdbacknreserve will be paid at the end of the chargeback period when the memberbhas stayed active for a minimum of three consecutive months.
THIS AGREEMENT MAY BE CHANGED AT ANY TIME AT THE COMPANIES DISCRETION AND WITH THE PIROR NOTICE TO THE BROKER.
this commission addendum shall become effective on the____ day of_________,20_____.
Broker:
Print name_________________________
Signature__________________________
Date______________________________
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noone has signed this, I didn't have a 350.00 contract I had a 450.00 Contract.
I did not think that you could dothis a year and a half latter.
But I been told that that can
I guess that that can do whatever they what...
- - - - - - - - - - - - - - - - - -
yes,It is like parkers mess
we really do need something to look out for the brokers out here that dose the work anyway
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- 185
I dont think its like Parker. Parker is simply the worst, a slimeball who steals and lies ( blows my mind how carriers and CMS let him get away with his BS ). Your MGA is an *** who would probably pay you only he/she got himself into a contract with obligations he couldnt meet.
- Thread starter
- #17
mississippiagent
Expert
- 54
I don't know why cms would deal with Parker either, I guess that money talks . Its doesn't matter that so many of these companies makes their money by stealing it from the agents.
The charge back account from 2008 only had a 3 mo. charge back last year (12 MOS. NOW),yet they still have that money, renewals have not been paid to anyone that I know of at least with this company, now cms has this whole first year commission thing to where we can all wait to see when we might get paid. Renewal monies went from $200.00 to $50.00 and only for 4 years.
Down lines were just taken from agents. CONTRACTS really dose'nt mean anything.
What a mess ,what a mess...
And they what to know why so many agents have left the senior market?
They may get away with an addendum to the 08 contract but its just not the Right thing to do to the agent.
The charge back account from 2008 only had a 3 mo. charge back last year (12 MOS. NOW),yet they still have that money, renewals have not been paid to anyone that I know of at least with this company, now cms has this whole first year commission thing to where we can all wait to see when we might get paid. Renewal monies went from $200.00 to $50.00 and only for 4 years.
Down lines were just taken from agents. CONTRACTS really dose'nt mean anything.
What a mess ,what a mess...
And they what to know why so many agents have left the senior market?
They may get away with an addendum to the 08 contract but its just not the Right thing to do to the agent.
- 920
The only explanation for this behavior must be complicity between CMS and the carriers/FMO's. While all of these shenanigans are probably within the letter of the contracts, it sure violates the nature of the contract. Suppose, for instance, the agent were to negotiate the premiums the customer is to pay? How long do you think it would take CMS to jump all over that one???
- 1,167
CMS does not deal with Parker. The carriers do.
- Thread starter
- #20
mississippiagent
Expert
- 54
yes you are right it is the carries, the point is what they do to agents is just not right
