Eve Venters, Medicare Insurance Agent

How do you get paid, and does it affect the plan you recommend?

Answer: It is a common and fair question to ask how we are paid and whether that impacts the plans we recommend. To be fully transparent: The cost of your plan is exactly the same whether you sign up through an agent, a broker, or directly with the insurance company. You pay no fees for my services; instead, the insurance carriers pay a commission to our agency for the work we do.

For Medicare Advantage and Part D the Centers for Medicare & Medicaid Services (CMS) sets a Maximum Broker Compensation. This creates a level playing field and is designed specifically to prevent "steering" toward a plan just because it pays more commission. Most carriers pay the same flat fee, meaning my compensation is generally the same regardless of which plan you choose. In North Carolina, some plans are "non-commissionable," meaning the carrier pays the agent $0. Our agency has helped many clients enroll in these plans. If a non-commissionable plan is the best fit for your specific health needs and budget, that is exactly where we will point you.

Medigap compensation works differently. These are usually percentage based rather than a flat fee. Agents typically receive a percentage of the annual premium. This percentage is often higher in the first year and then transitions to a lower renewal rate for subsequent years. While percentages vary by carrier.

Our agency does not focus on individual commissions; we focus on volume and long-term relationships. We choose plans based on:

Plan Benefits: Does it cover what you need?

Provider Networks: Are your doctors included?

Customer Service: How does the carrier treat you when you have a claim?

We believe that if we do the right thing and provide excellent service, a strong customer base and referrals will follow. Our priority is and always will be, finding the plan that is right for you, not the one that pays the most.

Eve Black Venters, CSA

Certified Senior Advisor