Cigna PDP Commissionable 2024
Original Medicare covers many healthcare necessities, with both medical and hospital insurance being included automatically. However, one of the missing pieces of original Medicare is prescription drug coverage. In the past, Cigna did not pay commission on part d plans. Now, Cigna PDP commissionable 2024.
To remedy this, many carriers offer Medicare Part D, or prescription drug plans (also known as PDP). Cigna is one of these carriers. They have a large network of healthcare providers and their plans are available in most areas of the country. Even more exciting, for the 2024 Annual Enrollment Period (or AEP), Cigna has made their prescription drug plan commissionable in all 50 states. Cigna is expanding to make their PDPs commissionable for all their contracted brokers and distribution partners, which they hope will support their “No Wrong Door” portfolio selling strategy. A “No Wrong Door” approach means that, whichever way potentials and beneficiaries approach the carrier’s plans, brokers are able to support them through the system in a way that ends with them getting the plan they most benefit from. There is no wrong way to enter, so to speak.
For some time, brokers were giving Cigna feedback that they were ready to earn commission on Cigna’s products just like their competitors’ products. Cigna is ready to capitalize on their positive sales momentum. Three Cigna PDP drug plans are commissionable in the upcoming AEP. With this new ability, brokers can meet their customer’s individual needs and wants by presenting any combination of Cigna Medicare Advantage, Cigna prescription drug plans, Cigna Medicare Supplement, and other Cigna Supplemental Health and Life products. Maximum broker commissions for prescription drug plans have increased for the coming AEP from $92 per member per year to $100 per member per year, and are the same for all states, which is different than other commission rates that are different depending on location. The ability to earn commission on all of these plans will bring value to both the brokers and the beneficiaries.
Medicare agents
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