A Comp Plan describes how a commission is paid on a policy. AgencyComp can calculate, estimate and track commissions for the five most common types of commission payments.
Percentage of Premium
Medicare Advantage
Fee
Target Premium
Graded
Comp Plans can be changed for multiple policies using the bulk change tool on the Policies page.
Bulk Change - Comp Plans
Go to the Main Menu.
Click Policies.
Click the BULK CHANGE button.
Click +Comp Plan.
Select the Comp Plan Type for the policies to change.
Use the filter row to narrow your selection.
Click the box next to the policies to include in the bulk change.
Termed is a status that for a policy that is no longer active and not paying commissions. A termed date is required for a policy with a Termed status. The bulk term tool can terminate multiple policies at one time and add a specific term date. Bulk ...
Types and Sub-Types are categories and sub categories of the products you sell. They can be added to a policy and used in many reports to show where premium and commissions are derived. Types and Sub-Types can be changed for multiple policies using ...
A carrier is required when importing your policies, but a comp plan is not. You can add a comp plan to your policies after they have been imported using the Bulk Change – Comp Plans method. This method is more time-consuming than ther other two ...
A MA-PDP comp plan pays a fee that is set each year by the Centers for Medicare and Medicaid Services (CMS). The first-year commission can be paid in full or pro-rated depending on the fee, effective date, and enrollment type. Renewals always begin ...
Medicare Advantage and Prescription Drug Plans pay a fee that is determined annually by the Centers for Medicare and Medicaid Services (CMS). A Manual Plan is available for any type of Advantage or PDP plan that requires a special schedule. Examples ...