Thank you. Very useful. I wonder if you are paid exactly the same amount by every private insurance company. If not, then your recommendation may not necessarily be unbiased. Furthermore, even as an independent broker you represent many, but necessarily all available insurance companies. In that case, your recommendation would be limited to only those that you do represent. Correct?
Great Video! You do a great job at explaining a sometimes difficult topic. I would be interested in hearing how one gets trained in becoming an independent broker.
I also used Stephanie to help me decide the best plan and to get me the best rates. For my area it was Continental Insurance. Using an independent broker not limited to one company is invaluable.
Thank you so much for this. It’s very refreshing (and reassuring) to see such complete transparency. It gives me confidence to go through you when I need to interact with an insurance company.
Thank you for your information. I learned a lot from your video. I wish you could make a video for the people (like me), who worked for a company until retired at the age of 65 or later, when he/she is available for Medicare. Their company provides to the retirees a Group of Agents to help them find the best Plan for each one of them. Those agents seems to be together as one company to do the same job is finding the best plan for each retirees.
This is a wonderful video that would be very helpful to watch for someone that is looking for a medicare supplement or even someone that is considering switching to a different medicare supplement provider. This video is informative, to the point, and easy to undersand. The Medicare Supplement market is huge. Just think about how many people there are in the U.S. that are 65 and over. There are thousands of people around the country that sell Medicare Supplental insurance products, but you really need a person like Stehpanie, that specializes in this area. Thank you for posting this.
What about Amerilife? I think they are captive but they work with several carriers too. In the last 2 days I talked to a couple of agencies/IMO. They offer higher commissions but little to no training. Only watch a couple of videos and buy leads. Captive, I could find a mentor and better training + leads. Idk maybe I am wrong. There is a lot of info out there. I am overwhelmed already. Love your channel. Thanks
I'm planning on becoming and independent agent in the next year. I've watched so many videos but I'm still a little confused on systems. When you're shopping plans for your clients what site are you using? Hopefully I worded my question correctly. I only really know how to execute it from the captive side. Also do you use a desktop, multiple desk tops, or a laptop? Sorry I have so many questions lol.
Thanks for sharing such great information. It was really helpful to me. I always search to watch the quality content and finally I found this in your video. keep it up!
Companies don't "hire" independent brokers. We choose which carriers we would like to represent and then contract with them. We are transparent about all available plans and options.
Medicare Advantage plans generally pay a higher commission to agents than Medicare Supplement plans (which is sadly why many agents push them without doing a full needs analysis for the client). Most Medicare supplement insurance companies generally pay the same or a very similar commission by state.
Thank you for all of your wonderful videos, they are so informative and helpful. Regarding how independent brokers get paid, I’m wondering if they are paid by the insurance company with a flat fee or with a percentage commission? The reason I ask is that a dishonest broker might push a more expensive plan if he or she were paid a percentage of the premium for that policy, is that correct?
That is very correct. For Medigap Plans, most insurance carriers pay you a percentage of the premium, although this can vary from state to state. For Medicare Advantage it is a flat rate, and generally a higher commission than Medicare Supplement.
How would the client know he or she is getting the best company when the broker could be recommending the company that kicks back the biggest bird dog ?
Are you allowed by law to charge Medicare clients an admin fee? The commissions doesn't really cover the amount of time we spend on servicing medicare clients.
Not at all. In general, Medicare agents get paid higher commission on Medicare Advantage sales than they do on Medicare Supplement products. But we don't push Medicare Advantage Plans and in fact have many more Medicare Supplement clients (although Advantage Plans are sometimes the right fit for certain folks). We don't push any plan based on it's commission level, because that would be unethical. Doing the right thing for the client is the basis of my business, and should be the basis of any good independent broker's business as well.
I recently used Stephanie for my medicare needs. She listened to me explain what I wanted/needed and then gave me some choices that fit what I needed. Ultimately I made the final decision. She doesn't push you into anything She is truly a profession and I recommend her highly.
Hello! We would be happy to answer any preliminary questions you may have and we even have a retirement check list we can send your way that explains your retirement timeline as it pertains to Medicare. Please give us a call! 888-465-9728
I hope this is an a silly question. But wouldn’t the insurance company save money if you go through them directly and not pay the broker. Or are those costs already built in?
@@johnny-oh4481 I don't think that your answer is necessarily correct. The independent agent must be contracted with each company to be able to sell for that company (Stephenie comment to a question gave info about companies contracted with agent) So unless an agent is contracted with a company and if the company is available in your state, then they can offer it to you. The Apt Agency may be contracted with every company that exists, but I doubt all other companies are. That would be a good question to ask an agent you may be thinking of having as your agent in your state.
Hi I'm a newly licensed in health and life. I'm currently trying to get my start I'm Medicare sales. I'd rather be a broker instead of an captive agent. How would go about becoming a broker?
Do you get paid a different amounts for selling a Supplement Plan G than a Supplement Plan N ? Or is there a difference in your compensation for selling one plan over the other?
Yes, generally when it comes to Medicare Supplement plans, agents get a higher commission the higher the premium is for the plan they sell. Hence why some brokers on RUclips ONLY sell Plan G and won't even offer high deductible options, ect 🙂
Hi , Stephanie your vedios hs always been helpful ,i just wanted to know how can i work with an independent broker as i have LLC registered company , and want to provide health care leads?
Thank you that was my question as well. Do you get higher commissions on supplements versus Advantage Programs. Do you get paid upon commissions as far as what the person's premiums are. In other words, do you get paid for higher premiums when a person signs up? Is there Advantage for license brokers to sell a higher premium product?
@@sheilabrennan4481 agents generally get paid more for Medicare Advantage sales as compared to Medigap. Medigap commission are based on a percentage of premium with some, but not all carriers.
@@AbtInsuranceAgency thank you so much for your reply. It's all so much to navigate, and your videos are awesome to help with all the questions. Much appreciated
Are there some policy's that pay the broker a better commission ? I had someone who sold many policy's but seemed very determined to sell me an advantage plan, when l suggested a medigap supplemental plan the broker said oh yes that maybe better? Just made me suspicious to think the advantage plan paid better commission
Yikes... Incorrect information in this video. You can infact be captive and contracted with multiple carriers. I'm captive, the company I work for has contacted me with several top carriers. That way the customer can shop around and get the best available benefits for their needs. Captive is obviously not the best route when it comes to pay. But when starting out and learning the business, being captive gives great insight. I'd avoid working for any captive agency thats specifically one company. But you can definitely work for what I call an "umbrella company".
May I ask, what are your thoughts regarding Allstate? Are they what you call a captive agency? I'm just starting in the field. I want to gain knowledge & experience, but I don't want to be contractually tied to an agency if it doesn't work and they don't deliver on their promises. I've come across a few stories where folks said that the company refused to release them Others stated they had to sign a 2-year non-compete form (unsure if this is the proper term). Can you please give an example of an Umbrella company? Any insight that you can provide would be greatly appreciated. 🤩
@@AbtInsuranceAgency no wonder my agent calling now, good to know. Your videos are really great. Wish I had seen them when I first signed up for Meducare, I could have called you and not gone crazy for 6 months.
I think it’s important to note that captive agents typically sell for just one company, while independent agents represent many different insurance companies.
SMH, Medicare Broker captured or independent brokers, help you through the process during Open enrollment. For example a captured agent is trained by company XYZ and is considered a W2 employee to know their products and benefits from head to toe. Independent broker is appointed by ABC DEFGHIJKLMNP, which are multiple company and makes only commission. Does that make an independent agent better than a capture agents. Absolutely not saying that a captured agent is not as good as a independent agent your statement is false and it benefits you.
Thank you for your input but I respectfully disagree. I would personally rather be assisted by an agent with product knowledge of many various carriers, who can help me “shop” options every year rather than an agent who only sells one product or one company. But maybe some people feel differently- if so they should work with whichever type of agent they feel best about!
@@AbtInsuranceAgency I am sure you do "respectfully disagree". Thats like saying, I will go to my Primary care doctor to do my heart surgery, because my Primary doctor should know everything. Just because you dabble in multi areas, doesn't make you " Knowlegeable" in all areas. Don't miss rep that you have multi carriers, Yes it helps to have choices, but to say Indendent and capture agents are different how so ? do you not do enrollments base on client needs and not your bottom. Best wishes and good luck.
Questions about working with a Medicare broker? Leave them below!
Thank you. Very useful. I wonder if you are paid exactly the same amount by every private insurance company. If not, then your recommendation may not necessarily be unbiased. Furthermore, even as an independent broker you represent many, but necessarily all available insurance companies. In that case, your recommendation would be limited to only those that you do represent. Correct?
I'm taking the life and health course now to get my license. Thanks for explaining this. I haven't covered it yet in my training. Thank you
Great Video! You do a great job at explaining a sometimes difficult topic. I would be interested in hearing how one gets trained in becoming an independent broker.
My wife and I both used Stephanie and her guidance was great and deserved what Humana pays her
I also used Stephanie to help me decide the best plan and to get me the best rates. For my area it was Continental Insurance. Using an independent broker not limited to one company is invaluable.
gary cooper Thank you for the feedback
Humana pays her, I had Humana and they didn't pay anything. Lol got out of that plan
nicely explained about the commissions of agents is inclusive in the premium and agent adds values to information.
Thanks for answering my question, this was exactly my concern as well as I have been trying to sign up my Mom with Medicare this year
You're welcome! Please reach out to us at any time, we would be happy to assist you directly (888) 465-9728
Thank you so much for this. It’s very refreshing (and reassuring) to see such complete transparency.
It gives me confidence to go through you when I need to interact with an insurance company.
Stephanie, you are the Best!
Pete Weber thank you 😊!
Do you earn trails after selling a policy? If so, for how many years? Thanks for the informative videos!
Trails?
Thank you for your information. I learned a lot from your video. I wish you could make a video for the people (like me), who worked for a company until retired at the age of 65 or later, when he/she is available for Medicare. Their company provides to the retirees a Group of Agents to help them find the best Plan for each one of them. Those agents seems to be together as one company to do the same job is finding the best plan for each retirees.
This is a wonderful video that would be very helpful to watch for someone that is looking for a medicare supplement or even someone that is considering switching to a different medicare supplement provider. This video is informative, to the point, and easy to undersand. The Medicare Supplement market is huge. Just think about how many people there are in the U.S. that are 65 and over. There are thousands of people around the country that sell Medicare Supplental insurance products, but you really need a person like Stehpanie, that specializes in this area. Thank you for posting this.
What about Amerilife? I think they are captive but they work with several carriers too.
In the last 2 days I talked to a couple of agencies/IMO. They offer higher commissions but little to no training. Only watch a couple of videos and buy leads.
Captive, I could find a mentor and better training + leads.
Idk maybe I am wrong. There is a lot of info out there. I am overwhelmed already.
Love your channel.
Thanks
Awesome videos! How do you see each insurance companies rates? Love to work with you to help my parents
I'm planning on becoming and independent agent in the next year. I've watched so many videos but I'm still a little confused on systems. When you're shopping plans for your clients what site are you using?
Hopefully I worded my question correctly. I only really know how to execute it from the captive side.
Also do you use a desktop, multiple desk tops, or a laptop? Sorry I have so many questions lol.
Thanks for sharing such great information. It was really helpful to me. I always search to watch the quality content and finally I found this in your video. keep it up!
How do you know if someone is a “captive” agent vs a broker?
Captive agents will only offer one insurance company.
Ask them what companies they can offer plans for. Ask if an independent or captive agent.
But you will not recommend an insurance company which has not hired you to represent them. How do we know what companies have not hired you?
..?
Companies don't "hire" independent brokers. We choose which carriers we would like to represent and then contract with them. We are transparent about all available plans and options.
Great Video, very informative. Are there different commission amounts for supplemental plans verses advantage plans or between insurance companies?
Medicare Advantage plans generally pay a higher commission to agents than Medicare Supplement plans (which is sadly why many agents push them without doing a full needs analysis for the client). Most Medicare supplement insurance companies generally pay the same or a very similar commission by state.
Thank you for all of your wonderful videos, they are so informative and helpful. Regarding how independent brokers get paid, I’m wondering if they are paid by the insurance company with a flat fee or with a percentage commission? The reason I ask is that a dishonest broker might push a more expensive plan if he or she were paid a percentage of the premium for that policy, is that correct?
That is very correct. For Medigap Plans, most insurance carriers pay you a percentage of the premium, although this can vary from state to state. For Medicare Advantage it is a flat rate, and generally a higher commission than Medicare Supplement.
Stephanie can you share with me how I would become a licensed Medicare Agent. Could you please recommend a school or training I can go to.
Thanks for this. I just asked this question on another video of yours.
Thank you. This was extremely helpful.
Do I need a FMO.... ?
So no out of pocket fees for renewals or any help from you solving billing and claims stuff or any other activities. Right?
Correct! We don’t accept any money from our clients. Our service is free.
How would the client know he or she is getting the best company when the broker could be recommending the company that kicks back the biggest bird dog ?
I see that after a year, there is no answer!
Are you allowed by law to charge Medicare clients an admin fee? The commissions doesn't really cover the amount of time we spend on servicing medicare clients.
We don’t charge any additional fees.
I choose myself
Why non clients of a broker ask other brokers questions?
But how do you get clients and also what is your cost of the E and O insurance
So dont you push the one that pays you the most commission vs a better plan that pays you lower commission?
Not at all. In general, Medicare agents get paid higher commission on Medicare Advantage sales than they do on Medicare Supplement products. But we don't push Medicare Advantage Plans and in fact have many more Medicare Supplement clients (although Advantage Plans are sometimes the right fit for certain folks). We don't push any plan based on it's commission level, because that would be unethical. Doing the right thing for the client is the basis of my business, and should be the basis of any good independent broker's business as well.
I recently used Stephanie for my medicare needs. She listened to me explain what I wanted/needed and then gave me some choices that fit what I needed. Ultimately I made the final decision. She doesn't push you into anything She is truly a profession and I recommend her highly.
@@michaelguida448 Michael thank you so much for this kind comment!
Yes! Its a business we look out for the best deal ! So yes 👍
But my question: Do you get paid MORE if a person chooses Medicare Advantage? How much more? (Percentage).
Agents generally get paid more for Medicare Advantage sales compared to Medicare Supplements. In can be up to a 30% higher commission or more.
So what’s the commission like? I’m confused
How do I find a trustworthy independent Medicare broker near me? Do they have office locations or is everything done on the internet?
I thought a “broker” was different than an agent, ?
Hi, I have Medicare part A and still fully employed. Can I join part D or do I have to wait till I retire?
You can enroll in Part D even if you have part A only.
I was wondering do you get paid weekly biweekly as soon as the member signs up how does that work?
It can vary depending on the insurance carrier.
I plan on retiring in a yr or two. Do I need to call for advice when I’m ready to retire or can I get info earlier? I’d like to use you.
Hello! We would be happy to answer any preliminary questions you may have and we even have a retirement check list we can send your way that explains your retirement timeline as it pertains to Medicare. Please give us a call! 888-465-9728
How do a company get paid from Medicare and how a company sign up with Medicare
How does one become a medicare broker/agent?
Thank you.
I hope this is an a silly question. But wouldn’t the insurance company save money if you go through them directly and not pay the broker. Or are those costs already built in?
The costs are already built into the premiums.
@@AbtInsuranceAgency thanks ! Another reason why using a broker makes $ence lol
So as an independent broker, are all the insurance companies available to us as clients?
Yes
@@johnny-oh4481 I don't think that your answer is necessarily correct. The independent agent must be contracted with each company to be able to sell for that company (Stephenie comment to a question gave info about companies contracted with agent) So unless an agent is contracted with a company and if the company is available in your state, then they can offer it to you. The Apt Agency may be contracted with every company that exists, but I doubt all other companies are. That would be a good question to ask an agent you may be thinking of having as your agent in your state.
hy Stephanie,i have my own call center and i need a compaign (medicare-suppliment) can you please help me!!! i am in a very bad situation
Shes probably not gonna respond! You can't make her any money
Hi I'm a newly licensed in health and life. I'm currently trying to get my start I'm Medicare sales. I'd rather be a broker instead of an captive agent. How would go about becoming a broker?
Do you like being an agent currently!? Stressful? Difficult? Pays good? I’m supposed to start Monday and go through the training
@@NormanAnthony1 At least you're getting training. I've never gotten a minute's worth of it, other than what I've watched on RUclips.
Super Informative!
Check your Email please
Do you get paid a different amounts for selling a Supplement Plan G than a Supplement Plan N ? Or is there a difference in your compensation for selling one plan over the other?
Yes, generally when it comes to Medicare Supplement plans, agents get a higher commission the higher the premium is for the plan they sell. Hence why some brokers on RUclips ONLY sell Plan G and won't even offer high deductible options, ect 🙂
Hi , Stephanie your vedios hs always been helpful ,i just wanted to know how can i work with an independent broker as i have LLC registered company , and want to provide health care leads?
Can I start part time? In a career transition.
Is the commission higher for certain insurance carriers than others?
Some carriers can vary slightly but they are pretty much the same across the board.
Thank you that was my question as well. Do you get higher commissions on supplements versus Advantage Programs. Do you get paid upon commissions as far as what the person's premiums are. In other words, do you get paid for higher premiums when a person signs up? Is there Advantage for license brokers to sell a higher premium product?
@@sheilabrennan4481 agents generally get paid more for Medicare Advantage sales as compared to Medigap. Medigap commission are based on a percentage of premium with some, but not all carriers.
@@AbtInsuranceAgency thank you so much for your reply. It's all so much to navigate, and your videos are awesome to help with all the questions. Much appreciated
Are there some policy's that pay the broker a better commission ?
I had someone who sold many policy's but seemed very determined to sell me an advantage plan, when l suggested a medigap supplemental plan the broker said oh yes that maybe better?
Just made me suspicious to think the advantage plan paid better commission
Yes, in most cases agents do get paid a higher commission for Medicare Advantage Plan sales compared to Medicare Supplements.
Yikes... Incorrect information in this video. You can infact be captive and contracted with multiple carriers. I'm captive, the company I work for has contacted me with several top carriers. That way the customer can shop around and get the best available benefits for their needs.
Captive is obviously not the best route when it comes to pay. But when starting out and learning the business, being captive gives great insight.
I'd avoid working for any captive agency thats specifically one company. But you can definitely work for what I call an "umbrella company".
May I ask, what are your thoughts regarding Allstate? Are they what you call a captive agency? I'm just starting in the field. I want to gain knowledge & experience, but I don't want to be contractually tied to an agency if it doesn't work and they don't deliver on their promises. I've come across a few stories where folks said that the company refused to release them
Others stated they had to sign a 2-year non-compete form (unsure if this is the proper term). Can you please give an example of an Umbrella company? Any insight that you can provide would be greatly appreciated. 🤩
Is it true that Supplements only pay commissions of roughly $20/month/policy?
On average, yes and generally up to 4-7 years.
@@AbtInsuranceAgency no wonder my agent calling now, good to know. Your videos are really great. Wish I had seen them when I first signed up for Meducare, I could have called you and not gone crazy for 6 months.
Seems like if the company would pay the broker more than the others the broker would be tempted to push the company towards them.
Commissions are basically the same from one company to another, but can vary by state or product type.
Yeah, I had same question as squid148. Thanks for clarifying, Stephanie.
what states are you licensed in
ALL except CT MN MA and WI !
Why you have a problem with Medicare broker captive?
I think it’s important to note that captive agents typically sell for just one company, while independent agents represent many different insurance companies.
Check your Email please
SMH, Medicare Broker captured or independent brokers, help you through the process during Open enrollment. For example a captured agent is trained by company XYZ and is considered a W2 employee to know their products and benefits from head to toe.
Independent broker is appointed by ABC DEFGHIJKLMNP, which are multiple company and makes only commission. Does that make an independent agent better than a capture agents. Absolutely not
saying that a captured agent is not as good as a independent agent your statement is false and it benefits you.
Thank you for your input but I respectfully disagree. I would personally rather be assisted by an agent with product knowledge of many various carriers, who can help me “shop” options every year rather than an agent who only sells one product or one company. But maybe some people feel differently- if so they should work with whichever type of agent they feel best about!
@@AbtInsuranceAgency I am sure you do "respectfully disagree". Thats like saying, I will go to my Primary care doctor to do my heart surgery, because my Primary doctor should know everything. Just because you dabble in multi areas, doesn't make you " Knowlegeable" in all areas. Don't miss rep that you have multi carriers, Yes it helps to have choices, but to say Indendent and capture agents are different how so ? do you not do enrollments base on client needs and not your bottom. Best wishes and good luck.
Do you apply for the jobs at usa.gov?or is it some other sites you can apply for too?