Medicare Advantage Commissions

Medicare Advantage Comp Plan

A MA-PDP comp plan pays a fee that is set each year by the Centers for Medicare and Medicaid Services (CMS). Depending on the Enrollment Type, the first-year fee can be paid in full or pro-rated. Renewals always begin on January 1st following the first year.

Sample Medicare Advantage Schedule
Begin Year
End Year
Fee
Mode
Advanced Rate
1
1
$601.00
One-Time

2
Endless
$25.08
Monthly




Add

  1. Go to the Main Menu.
  2. Click Comp Plans.
  3. Click ADD Comp Plan.
  4. Name the plan.
  5. Type – select MA-PDP.
  6. Carriers – select the Carriers for the Comp Plan.
  7. End Year – select the number 1 as the ending year for the first period.
  8. Click the MA-PDP Fee Schedule for a list of fees from the Centers for Medicare & Medicaid Services.
  9. Fee – enter the first year fee as published from CMS for the first fee period.
  10. Mode – select One-Time for the first fee period mode.  The commission will be calculated based on the Enrollment Type and effective date.
  11. Click ADD ROW for renewal periods.
  12. If renewal fees are level for the life of the policy, select Endless for the End Year. Most Medicare Advantage renewal fees pay Fair Market Value (FMV).  The renewal fee is increased each year based on the CMS guidelines.  If FMV renewals are paid, select year 2.  Remember to update the schedule each year with the current renewal fee amount.  Any policy linked to the comp plan will get updated.
  13. Enter the monthly renewal fee from the CMS schedule.
  14. Enter Monthly for the renewal mode.  All Medicare Advantage & Prescription Drug Plans pay renewal fees on a monthly basis.
  15. Advanced Rate – if renewal fees are advanced, enter the percentage amount that is advanced. (9 months = 75%, 12 months = 100%). If renewal fees are paid as earned, leave this field blank.
  16. Click the delete icon  to remove a row.
  17. Add a description of the plan (optional).
  18. Click SAVE.

Edit

  1. Go to the Main Menu.
  2. Click Comp Plans.
  3. Click the comp plan name.
  4. Make changes.
  5. Click SAVE.

Duplicate

  1. Go to the Main Menu.
  2. Click Comp Plans.
  3. Click the box next to a comp plan. Only one comp plan at a time can be duplicated.
  4. Click the duplicate icon .
  5. Make changes.
  6. Click SAVE.

Delete

  1. Go to the Main Menu.
  2. Click Comp Plans.
  3. Click the box next to the comp plans to delete.
  4. Click the delete icon . The comp plan will be removed from all policies linked to it.
  5. Click CONTINUE.

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