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Most Medicare agents report earning under $50,000 in their first complete year. A small minority do earn $150,000 or more. Incomes increase in subsequent years. Some 18.4 percent report earning over $200,000 annually from selling Medicare insurance sales after 5 years or more in the business.
The American Association for Medicare Supplement Insurance surveyed independent insurance agents and brokers selling Medicare solutions. Agents were either listed on the Association’s directory of local agents or were part of the Medicare Insurance Producers Linkedin group.
Four questions were asked.
The vast majority of agents reported incomes of under $50,000.
Under $50,000 (83.1%)
$50,000 to $$100,000 (11.4%)
$100,000 to $150,000 (2.6%)
$150,000 to $200,000 (0.3%)
Over $200,000 (2.6%)
Incomes rise in subsequent years with more agents earning six-figures in commissions.
Under $50,000 (58.3%)
$50,000 to $$100,000 (28.9%)
$100,000 to $150,000 (9.6%)
$150,000 to $200,000 (1.5%)
Over $200,000 (1.7%)
About half of agents who stick to the business for 5 or more years earn over $100,000 annually from Medicare insurance commissions.
Under $50,000 (20.9%)
$50,000 to $$100,000 (32.8%)
$100,000 to $150,000 (16.4%)
$150,000 to $200,000 (11.4%)
Over $200,000 (18.4%)
For over half of agents selling Medicare insurance for 5 or more years, the majority of their commission incomes comes from Medicare insurance sales.
Less than 25%. (12.8%)
Between 25% and 50% (15.3%)
From 50% and 75% (13.3%)
75% and 100% (41.9%)
100% of commission income (16.7%)
Consider adding your name to the Association’s online directory. Used daily by consumers searching for Medicare agents near me, the directory generates over 80,000 consumer visits annually.
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The Association conducts and posts statistics and information we believe is of interest to consumers and agents. Here are links to access prior surveys and statistics.