Medicare General Agent Contract
A Medicare General Agent contract (GA) refers to a contract that pays the full CMS allowed “street commission” for an individual producer as well as an override per policy. Medicare producers can only receive the amount of pay specified by CMS. On the other hand, with a GA contract agents can receive additional commission both on the initial payment and also renewal payments. The idea behind a GA contract is to provide a payment to the GA to compensate them for recruiting, training and supporting “street” level agents frequently called sub agents or down line agents. One of the other advantages is the GA themselves receive the override commission on their own business as well.
GA contract overrides vary by company but usually pay around $50 on the initial payment and $25 on renewals. GAs receive override payments directly. The street compensation is paid directly to the sub producer or the GA (for their own production) Insurance carriers have initial and ongoing requirements that they must meet to obtain and keep a GA contract. While they change from company to company most carriers will require a minimum of 2 sub agents with some type of minimum production required.
Crowe and Associates is looking for current producers that would like to become a GA.
We are also looking for producing agencies that are not writing Medicare but would like to learn how. We will provide all the assistance needed to get a General Agency contract and grow it by providing….
- Contracting- We will provide the back office support needed to contract your sub producers under your GA contract
- Training- Full training on all aspects of the business will be provided
- Quote platforms- Access to comprehensive online quote systems at absolutely no cost
- Leads- Once a new agency is set up we will spend $1,600 to provide 100 new mail response cards generated in the area of the agencies choice at no cost to them. The GA can also purchase additional leads on a co-op basis to help reduce costs
- Application processing- Back office will scrub and process all applications submitted. (This is optional, you can also send the applications direct to the carriers as well)
- Choice- We will provide access to all major Medicare companies and all major carriers for other lines of business such as Final Expense, Life, Health, LTC, Annuities and Disability.