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A Guide to Broker Bonuses: How to Earn More in Q4

October 7, 2021   |   by Alex Strautman
broker-bonuses

Peak season is a great time to earn a production bonus on your group insurance sales. This year, several of our carrier partners are offering Medical and Ancillary bonuses on cases effective during Q4 2021 and/or early 2022.

How They Work

While specifics vary by carrier and product, generally you may be able to earn added compensation when you write coverage for your clients that begins during a specific time-period. The bonus may be based on several factors:

•  Coverage effective date;

•  Size of the group – and how many employees actually enroll for coverage;

•  Whether coverage is new or written in combination with other coverage (for example, when you add Dental to an existing group with Medical, or when you enroll Medical and another type of coverage at the same time).

The following bonuses are currently being offered:

California Broker Bonuses

If you write business in California, you can earn a bonus from more than a half-dozen carriers and administrators during peak season.

 

Aetna

You can earn an additional $50 to $100 per enrolled employee on new groups with 1-100 eligible employees enrolled in Aetna Small Group Medical effective through December 31, 2021. Plus, you can also earn an additional $25 to $50 on Aetna Whole HealthSM sales.

Download the Aetna flyer for more information.

 

BEST Life (Dental)

Earn $100 to $300 for bundled new Group Dental coverage for 10-100+ enrolled employees for groups effective through 1/1/2022. Download the BEST Life flyer here for details.

 

CaliforniaChoice

Two health plans participating in CaliforniaChoice, the Small Group, multi-carrier, employee-choice private exchange, are offering Q4 producer bonuses:

•  Health Net: For groups effective date of 10/1/2021 through 12/1/2021, you can earn $100 bonus per member. For example, if you have a 25-employee group enrolling in CaliforniaChoice and five enroll in Health Net, you earn a bonus of $500.

•  Kaiser Permanente: The bonus described below for Kaiser Permanente also applies to Kaiser Permanente business written through CaliforniaChoice: $100 per enrolled subscriber.

Download the CaliforniaChoice flyer here for eligibility details. Or, contact your Word & Brown representative for more information.

 

Cigna + Oscar

It’s not too late to earn a bonus of $350 on every new group effective through 12/15/2021, with four or more enrolled employees. Cigna + Oscar offers 16 plans across all four ACA metal tiers. Read our Newsroom story for details.

 

E.D.I.S.

The E.D.I.S. bonus on new business has been extended; it’s now available on new cases effective 8/1/2021 through 12/1/2021. You can earn $500 to $4,000, depending on the group size and selected plan. Download the E.D.I.S. pdf.

 

Kaiser Permanente

You can earn a $100 bonus per enrolled Kaiser Permanente subscriber for coverage effective 12/1/2021 or 1/1/2022. The bonus is payable for new Small Group sales written through any channel, including Word & Brown or the CaliforniaChoice private exchange.

Sell a 61-employee case and enroll 50 subscribers with Kaiser Permanente to earn a $5,000 bonus. Or, sell a new group with 10 employees and enroll nine with Kaiser Permanente to earn a $900 bonus.

Download the Kaiser Permanente flyer with full bonus details.

 

Health Net

Through year-end, Health Net is offering added comp on its “Go for 2!” Bonus Program – giving you the opportunity to earn up to $135 per member for Large Group (101+) sales.

Sell a 101+ new group plan with an effective date through 12/31/2021 and you earn:

•  A $35 bonus for each member enrolled in the sold plan

•  An additional $100 bonus per member when selling CanopyCare HMO.

Click here for complete program guidelines from Health Net.

 

United Concordia Dental

For United Concordia Dental coverage effective 7/1/2021 through 1/1/2022, you can earn a broker bonus of $5 to $20 per subscriber. Your bonus varies by the number of enrolled employees.  Get the details here for the Small Business Reward Program, or here for the Large Business Reward Program flyer.

 

UnitedHealthcare

Earn $100 per employee for new UnitedHealthcare Medical cases effective January 1, 2022, with up to 100 eligible employees – plus another $100 per employee when those groups renew in 2023 and 2024. Just sell a combined total of 10 enrolled employees in eligible groups with fully insured or level-funded Medical coverage to qualify. Click here to download the flyer for more information. 

Nevada Broker Bonuses

If your focus is Nevada, there are also opportunities for you to earn more during peak season.

 

BEST Life (Dental)

Earn $100 to $300 for bundled new Group Dental coverage for 10-100+ enrolled employees for groups effective through 1/1/2022. Download the flyer here for details.

 

E.D.I.S.

The E.D.I.S. bonus on new business has been extended; it’s now available on new cases effective 8/1/2021 through 12/1/2021. You can earn $500 to $4,000, depending on the group size and selected plan.  Download the E.D.I.S. pdf.

 

United Concordia Dental

For United Concordia Dental coverage effective 7/1/2021 through 1/1/2022, you can earn a broker bonus of $5 to $20 per subscriber. Your bonus varies by the number of enrolled employees. Link here for the Small Business Reward Program details, or here for the Large Business Reward Program flyer.

 

Ask Your Rep for Details

To learn more about any of these bonuses, contact your Word & Brown representative or one of our six regional offices in California and Nevada. Watch for news about added broker bonuses in our Newsroom.

 

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