Golden Rule Insurance (United Healthcare) - Golden Rule (United Healthcare) Does Not Treat Their Brokers/agents Fairly
Commissions for Selling Health Insurance
INDIANA -- This is a warning to any agent out there who is interested in writing health insurance for Golden Rule Insurance Co. (known as United Health One).
Their contract specifies a level 5% of the original premium for renewals. This means that if someone starts off paying $200 per month for coverage and the next year his policy goes to $300 per month, the agent would receive 5% of the original premium ($200) or $10 commission. So when you have clients (as I do) that have been with the company for several years and have received several rate increases, you are still receiving the 5% of the original premium.
One of my clients (after having the policy for 5 years) is paying 3 times his original premium. He decided to raise his deductible so he is only paying 2 1/2 times the original premium. He is still paying 2 1/2 times his original premium, and the company CUT MY COMMISSION below the original 5% of the original premium.
This is one (of many) insurance companies that does not care at all about their brokers. STEER CLEAR OF UNITED HEALTHCARE AND GOLDEN RULE INSURANCE COMPANY.