Commissions FAQ

Each carrier submits enrollments to CMS as they are processed, and they receive an immediate response whether the client qualifies for the plan; if the client qualifies then the renewal commission rate is paid. Once a month the carrier receives a report from CMS indicating the previous plan information for each enrollment previously submitted. From that report the carrier will pay the additional commissions (True-Up) for the Initial and Unlike Plan Change enrollments. The additional (True-Up) commissions are typically paid within 4-6 weeks of the first payment depending on the payment schedule of the carrier.

This will depend on the carrier and their payment schedule, as they can vary greatly. Carriers typically pay daily, weekly, bi-weekly, monthly, or semi-monthly; they pay based on issue date, premium payment date, or effective date. Some carriers pay agents direct, and some pay through the FMO (Empower Brokerage). When researching commissions, the first step would be to verify the policy was issued and paid; commissions would not pay until the policy is issued (and paid in most cases). The second step would be to verify the agent contract is set up correctly, commissions would pay based on the agent contract; verify EFT/Payment information and contract level. Once those points are verified, an inquiry form would need to be submitted, you can find this form here.

Any carriers from which you currently receive direct deposit, you can typically update that information on the carrier’s portal. If you are not able to do this, you will contact the contracting person in our office to obtain the EFT form. If you are paid commissions from Empower Brokerage, please submit an updated EFT form, found here. You will want to be sure the information is updated on Surancebay so that all new contracts are submitted with the new information.

EFT Form Submission: Print form and sign. A wet signature is required for your protection. Once completed, submit to commissions@empowerbrokerage.com or by fax to 817-410-5999.

If Empower Brokerage paid out more than the $600 IRS threshold between, then you will receive a 1099 from us. All 1099s are emailed securely via tax1099.com on or before 1/31.