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 on January 1st following the first year. AgencyComp offers two ways to create a Medicare Comp Plan.
CMS Pre-Defined Templates - pre-built templates for all current and past Medicare plans that do not have advanced renewals. AgencyComp will automatically update fair market value renewals.
Manual Plan - works for all Medicare plans and plans that advance renewals. These are custom plans and are not automaticlly updated annually.
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 ...
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 ...
Medicare Advantage and Prescription Drug Plans pay a fee that is determined annually by the Centers for Medicare and Medicaid Services (CMS). A CMS Pre-Defined Template is a quick way to create a comp plan for any type of Medicare advantage or ...
AgencyComp includes built-in Default (Temporary) Comp Plans designed to help users import policies quickly without having to define detailed commission schedules upfront. A default plan exists for each commission type: Percent of Premium MA-PDP Fee ...
What is a Comp Plan? A comp plan defines how commissions are calculated and paid on a policy. It tells the system when, how much, and under what conditions commissions should be earned. When importing policies into AgencyComp, users can either create ...