Medicare PDP commission 2018
We have published this information, so that agents will be aware of the Medicare PDP commission 2018 amounts. Good news for brokers, CMS has raised the maximum broker commission for initial enrollments for both Medicare Advantage and Medicare Part D. This has been the case for the last 3 years. Please keep in mind, insurance carriers do not have to pay the maximum commission rate, each carrier will decide that on an individual basis.
Commissions for Medicare Part D:
The initial commission for Medicare Part D has increased from $71 per member each year to $72 per member each year. That is a 1.4% increase. Although, the replacement commission for 2018 has not changed. It is still $36 per member each year.
Commissions for Medicare Advantage:
The commission rates vary by state, therefore they are listed in groups according to the amount.
In both CA and NJ, the initial MA commission has increased from $553 per member each year to $567 per member each year. This is a 2.5% increase as compared to last years commission amount. There is a commission increase of 2.5% on replacement policies. This means commission goes from $277 per member each year to $284 per member each year.
Initial Commission rates in CT, PA as well as DC have increased from $498 per member each year to $511 per member each year. This is a 2.6% increase as compared to the commissions of last year. The replacement commission has increased from $249 per member each year to $256 each member per year. This means there has been a 2.8% increase.
In the states not listed above, the initial MA commission has increased from $443 per member each year to $455 per member each year. This is a 2.7% increase as compared with last years commission. The replacement commission has increased from $222 per member each year up to $228 per member each year. This is an increase of 2.7%.
If you would like more information on commissions for Medicare plans 2018 click this link.
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