<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=302779086974399&amp;ev=PageView&amp;noscript=1"> Medicare Blog | Medicare News | Medicare Information

Medicare Blog | Medicare News | Medicare Information

Biden Administration Delays Medicare Agent Pay Changes Following Court Ruling

Posted by www.psmbrokerage.com Admin on Thu, Jul 18, 2024 @ 01:19 PM

Biden Administration Delays Medicare Agent Pay Changes Following Court Ruling

The Biden administration has delayed implementing a Medicare plan agent pay change that could have disrupted the upcoming Medicare annual enrollment period. This follows a Texas federal court ruling that temporarily blocks the change, and both the Centers for Medicare and Medicaid Services (CMS) and the coalitions that sued agreed to a schedule that pushes decisions on the matter beyond the January 20 presidential inauguration.

This delay increases the likelihood of a normal enrollment period for older clients. CMS initially proposed this change to address concerns about aggressive marketing strategies and market distortions caused by support service payments. By accepting the court's stay, CMS has postponed any potential impacts until 2025. However, insurers' cautious pricing approaches may result in fewer plan options and higher prices in 2025.

Our 2025 Annual Enrollment Period (AEP) Guide is here. Carefully curated and packed with valuable insights, this guide is your key to success as you navigate the upcoming enrollment season. From tips on maximizing your productivity to strategies for optimizing your performance, this essential resource has everything you need to excel during this critical time of the year. View Guide   |   View AEP Resources

 

Newest Blog Posts  |  All Blog Posts
For agent use only. 
 

Tags: Medicare Advantage, CMS, commissions

2024 FMV Medicare Advantage & PDP Commissions Announced

Posted by www.psmbrokerage.com Admin on Thu, Jun 22, 2023 @ 09:32 AM

2024 MA Commissions

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. 

Divider

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!

Resources:

Newest Blog Posts  |  All Blog Posts

Tags: Medicare Advantage, Referrals, Medicare Part D, CMS, commissions

How to Streamline Your Commission Tracking Process

Posted by www.psmbrokerage.com Admin on Tue, Feb 07, 2023 @ 02:20 PM

Tags: commissions, CRM, agencybloc

2023 Medicare Advantage / PDP Agent Commissions (FMV)

Posted by www.psmbrokerage.com Admin on Tue, Jun 14, 2022 @ 09:45 AM

Tags: Medicare Advantage News, PDP, commissions, 2023

2022 Medicare Advantage / PDP Agent Commissions (FMV)

Posted by www.psmbrokerage.com Admin on Thu, Jun 03, 2021 @ 11:18 AM

Tags: Medicare Advantage News, PDP, commissions

    Join thousands of insurance agents who receive weekly news updates and original articles.

    Like Precision Senior Marketing on Facebook!





    Follow Precision Senior Marketing on Twitter!

    Most Popular Posts