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2024 FMV Medicare Advantage & PDP Commissions Announced

Written by www.psmbrokerage.com Admin | Thu, Jun 22, 2023 @ 02:32 PM

2024 Commissions for MA, PDP and referrals have been announced.

We have highlighted the 2024 document changes below. You can review the official CMS notice here. Over the last decade the National rate for MA first year and renewal commissions have increased by 50%.

MA and Section 1876 Cost Plans
Compensation Type National Connecticut, Pennsylvania,
District of Columbia
California
New Jersey
Puerto Rico, U.S. Virgin Islands
Initial Year $611 $689 $762 $418
Renewal Years $306 $345 $381 $209
PDPs
Initial Year $100
Renewal Years $50
Referral Fees
Initial Year $100
Renewal Years $25

NOTE: CMS rounded the FMV amounts for CY 2024 up to the nearest dollar. The Initial Year amount is the maximum allowable amount that organizations may pay for enrollments during compensation cycle-year 1. The renewal amount is the maximum allowable amount that organizations may pay for enrollments during compensation cycle-years 2 and beyond, for a like plan type. 

The AEP is right around the corner and there are some exciting opportunities on the horizon for 2024. Get prepared early to ensure a successful Annual Enrollment Period. We are here to help!

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