Of course not . Plus United is cutting overrides to Fmo's . My sources said they find out how much next week
United Healthcare is cutting commissions for 15% of all MAPD
- Thread starter Medicare bro
- Start date
- 1,240
Wow If UHC cut overrides and marketing money the FMO are going to be hurting for certain. the call centers will have to implement the "United Front" program again to steer agents away from selling UHC.lol
I don't know the exact cut amount of commissions yet as i think that comes out next week . But I'm willing to bet they halt marketing money . I'd never let an fmo make money on me with me not getting at least marketing money . If carriers don't pay that then I'll damm sure find an fmo to give me part of their override to cover that
MedicareWAA
Guru
- 627
"My sources" … hahahahahaha
My sources are my upline who overrides me . You used to work for this or that a long time ago. I'm up to the min on what's happening now . We'll see who's right on if most of these commission suppression plans termed or not . I say yes and you say no . I'll be sure to post the results in sept
InsuranceGuy29
Guru
- 946
So true sky isnt falling, just broker agent commissions. Be glad you didnt put too many apples in the MAPD basket.
Before 2005 this product wasnt broker available. Seems with all the cuts from Trump Admin MAPD might go bak to in-house carrier agents like in the old days with base salary and bonuses for enrollments. This would save carriers alot of renewal comp debt.
Carriers are already doing heavy customer service calls so its a no brainer to take it bak in house.
We'll see soon enough.
Unhappy Medicare Plan Issuers Zero Out Agent Commissions
One veteran agent estimated the sudden shift has affected more than 35% of his Medicare plan clients.www.thinkadvisor.com
"The clients with the affected plans who want to continue to have agent help with managing their coverage may have to rush to choose new, commission-paying plans and may have trouble getting commission-paying plans that will cover the hospitals, physicians and prescription drugs they now use at any price."
Over 75% of MAPD sales come from outside brokers. Will never happen. Plus, why would you take on the liability of providing salary and benefits to agents who aren't getting you any new business when you can just 10-99 outside brokers and not have to worry about providing anything or any liabilities? Makes zero sense.
- 1,240
I agree and as we found out with wellcare the carriers can just decide to stop paying renewals once they decide brokers are not needed anymore and addition to that the new generation of old people don't expect to meet agents face to face so much anymore.
Were kind of following the blue print of p@c the past few yrs . Business became unprofitable in certain states and they just pulled out . In other states they axed commissions or just stopped accepting business . The main difference in the 2 is Medicare has Multiple layers of fat overrides between the agent and carrier that is 50-75% of total compensation paid by the carrier . In year 2 on they make massive renewal overrides for doing absolutely zero . Before they punish the agent they need to eliminate or greatly reduce overrides
No one is going to term a plan mid year in any scenario
if they term it will be for the next contract year which (correct me if I am wrong ) will not be a GI
Your correct no carrier can term a plan mid yr unless they go under . But when they term the plan during aep for 12/31 it creates a Guaranteed issue sep into a med sup until Feb 28th of the next yr . This is the one of the many reasons med sups getting massive price increases as all these sick people with GI with termed mapds are moving into plan G
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