As a health insurance agent, you have a unique opportunity to help the growing population of adults who need Medicare coverage while earning a bonus for your efforts. We happily announce that the Medicare Supplement Bonus Program returns for 2023-2024, starting from May 1, 2023, to Jan. 31, 2024.
Here’s how it works: for every new policy sold through the Medicare Supplement Insurance Plan 2023-2024 Bonus Program, you can earn up to $200 as a bonus. The more policies you sell, the higher your bonus per policy. You can earn $50 per policy for up to 30 new policies sold, $100 per policy for up to 74 new policies sold, $150 per policy for up to 150 new policies sold. Moreover, you can earn up to $200 per policy for selling 151+ new policies.
However, it’s important to note that only new Blue Cross Blue Shield of Texas (BCBSTX) Medicare Supplement Insurance policies qualify for the bonus program. Renewals or rewrites do not count. Additionally, High Deductible plans (F and G) and Select plans (G and N) do not count as part of the bonus program. U65 disabled Medicare Supplement Insurance policies do not count toward the bonus.
You must sell a minimum of five new policies during the program period to qualify. The production of a writing producer/sub-producer determines eligibility. Furthermore, you must make your payment to the submitting Agency. The program includes TMOs.
All Medicare Supplement Insurance policies must be in force at the time of calculation, which is January 31, 2024. For example, if you sell a policy and the policy terminates within the program period, that policy does not qualify. Also, new policies that undergo a producer of record transfer during the program period will only count toward the bonus of the producer of record at the time of calculation.
The bonus will be paid within 60-90 days from the end of the program, January 31, 2024. The normal monthly commission statement will include payment of the bonus.
The Medicare Supplement Bonus Program is a fantastic opportunity for health insurance agents to earn additional income. They can do so while simultaneously providing a valuable service to seniors who need Medicare coverage. With the easy-to-understand bonus structure and clear terms and conditions, it’s a win-win situation for both you and your clients. Don’t wait – start selling new BCBSTX Medicare Supplement Insurance policies today to take advantage of this exciting program.