How are Medicare Brokers Actually Paid?

The Transition to Medicare Podcast

Are you curious about how Medicare brokers earn their living and how this may impact you, the consumer? In this enlightening episode, we pull back the curtain on the commission structures for selling Medicare products, shedding light on the often-misunderstood world of Medicare commissions.
We unravel how brokers are paid, from selling Medicare Advantage and Medigap plans to hidden incentives that add to their earnings. Learn the distinction between initial and renewal plans and how commission rates differ for various products. Get an in-depth understanding of the Medicare Advantage and Medigap commission structures, backed by real-world examples and precise calculations. We'll also compare these two plans to see which is more lucrative for brokers.
Additionally, we'll expose the hidden incentives, including new carrier bonuses, underwritten bonuses, and reward trips, and discuss how they affect a broker's decision and earnings. Join us as we debunk the mysteries of this industry, fostering transparency for Medicare beneficiaries.
Giardini Medicare is an independent insurance agency specializing in helping Medicare beneficiaries enroll in the Medigap or Medicare Advantage plan that fits their needs during their transition to Medicare. We are licensed and work virtually in the following states: AZ, CA, FL, IL, IN, KY, MI, MD, NC, OH, PA, SC, TX If we do NOT work in your state, we can refer to agents that we know, like & trust across the country. Fill out the form linked to our map.
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Sources:
Senator Warren Hidden Incentives Report
CMS Broker Compensation Data
More Broker Commission Data
Agent Commission Impacting Consumer Choices
Example of Medicare Broker Incentive Reward Trips