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What's New:11.10.2008 - UPDATED!! BRAVO Health announces 2009 certification training for new and existing agents. Click here for details
9.24.2008 Today's Options: ENROLL ONLINE! Starting Nov 15, 2008, Agents can enroll clients online for the Today’s Options PFFS, HMO, PPO, and PDP plans.
8.9.2008 SAVE BIG in Continuing Education Everyone needs continuing education to satisfy the state's licensing requirements. Premier Agent Group can save you 25%!
Did You Know...
Medicare Advantage plans are available to all Medicare beneficiaries?
Producers many times tend to focus only on Seniors - those 65 and above. The truth is that anyone of any age can receive Medicare benefits due to disability.
Looking for Life Products?Premier Agent Group also offer the best in Life products to complement any portfolio. Visit PremierAgentCenter.com for the very best in life products. Marketing TipThe use of video technology can dramatically improve your business. Ask us how easy our cutting edge video products are to use and how effective it will be in promoting your business. |
What MA Renewal Commissions Really Mean
Typically, an Agent has earned a good commission from the initial enrollment with no renewals, and not much of an incentive to keep business on the books past the first year. The new CMS rules about first year and renewal commissions could put you on a solid base "salary" for years to come.
Example using fictitious Company Z:
In 2007, an Agent receives $600 first year commission for each MA enrollment. No renewals for any remaining years the beneficiary stays on the plan.
In 2008, the same Agent receives $250 first year commission and $200 per year for years 2,3 4,5 and 6. Total compensation over 6 years is $1250! More than double the first year commission in 2007 alone!
Do the numbers with the companies you represent and see how quickly 100 enrollees this year can add up to thousands in renewals for the next 5 years.
In the new playing field everyone wins. Less incentive for unscrupulous agents to churn business to get new first year commissions, and those that were in it for the quick "hit" commissions will go elsewhere - like bill collecting.
This leaves the dedicated MA agent a more steady base upon which to build.
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