2016 Medicare Commissions
Note: In light of the new commissions for 2017, this blog “2016 Medicare Commissions” has been updated. CLICK HERE FOR UPDATED POST
- To start, the quoted 2016 Medicare commissions are the CMS MAXIMUM for 2016 and actual 2016 commission could be lower, at the discretion of the plan.
- Not to mention, for Medicare Part D, initial commissions increased from $56 a member per year to $63 a member per year. That is a 12.5% increase YOY.
- Also, replacement commissions for Part D increased from $28 a member per year up to $32 a member per year. That is a 14.3% increase YOY.
Medicare advantage compensation by state:
- For CA and NJ, initial MA commissions increased from $510/member/year to $536/member/year, a 5.1% increase YOY. Replacement commissions increased from $256/member/year to $268/member/year, a 4.7% increase.
- For CT, PA and DC, initial MA commissions increased from $461/member/year to $483/member/year, a 4.8% increase YOY. Replacement commissions increased from $230/member/year to $242/member/year, a 5.2% increase.
- In all other states, initial MA commissions increase from $408/member/year to $429/member/year, a 5.1% increase YOY. Replacement commissions increased from $204/member/year to $215/member/year, a 5.4% increase
Medicare Advantage commissions 2016 are set by CMS on an annual basis. They will state the max a “Street” agent compensation in each state for a new or renewal Medicare Advantage plan and Part D Rx plan. Visit our company blog page for more detailed information regarding Medicare Advantage plan commissions for 2016.
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