Plan Advisors

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Medicare Advantage and Part D Plans receive a commission boost for 2023! 

PDP

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We’re almost halfway through 2022; can you believe it? A new year on the horizon comes with a commission increase for Medicare sales specialists! These increases will apply to those who are enrolling clients into 2023 Medicare Advantage plans and Part D drug plans. This now marks the eighth consecutive year that CMS has raised the commission for sales specialists. Agents’ compensation is directly tied to new enrollments and retainment of beneficiaries. With a combined 50+ million beneficiaries enrolled in Medicare Advantage and Part D drug plans, there has never been a better time to become a Medicare broker.

Let’s take a look at the new commissions and what brokers can expect in the coming year:

Curious as to how this compares to years prior? View the chart below:

YearNationalCT, PA, DCCA, NJPRPDP
2021$539 / $270$607 / $304$672 / $336$370 / $185$81 / $41
2020$510 / $255$574 / $287$636 / $318$350 / $175$78 / $39
2019$482 / $241$542 / $271$601 / $301$331 / $166$74 / $37
2018$455 / $228$511 / $256$567 / $284$312 / $156$72 / $36
2017$443 / $222$498 / $249 $553 / $277$304 / $152$71 / $36
2016$429 / $215$482 / $242$536 / $268$294 / $147$63 / $32
2015$408 / $204$461 / $230$510 / $255$280 / $140$56 / $28

Here at Plan Advisors, we believe that things are only going up for brokers that are specializing in Medicare Advantage and Plan D drug enrollment plans.

Check out the full CMS fact sheet or contact us today if you have additional questions!

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Answers about enrolling Veterans with Medicare outside of the Annual Election PeriodWe often get questions relating to the enrollment of Medicare eligible veterans outside of the Annual Election Period.  In short, veterans are treated just as any other Medicare eligible person.  There are a few things to note, however, when working with a veteran who is Medicare eligible.  Here’s a short list of things to consider when helping veterans make an informed decision about Medicare Advantage enrollment:

[Read more…] about Veterans and Medicare Plan Enrollment

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How will the Affordable Care Act affect Medicare Advantage?

[Read more…] about How might the Affordable Care Act affect Medicare Advantage?

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Larry Bishop turns 65 and enjoys the benefits of MedicareMany of you may know that this year will be a milestone birthday for me. I turn 65 in May! In the past I never associated Medicare benefits with my own personal circumstances, but now it’s become something I think about frequently. I’d like to share some of the experiences I’ve had recently, and hope you find it insightful as you grow your business and interact with folks like me for years to come.

[Read more…] about After 33 Years in the Business, it’s My Turn!

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Humana Medicare agentsI had an agent tell me recently that “United was more generous than Humana because they offered unlimited renewals.” Currently, Humana offers a six-year tail on MAPD and PDP enrollments, which begins with either the “initial” or “replacement sale,” as CMS defines it.

[Read more…] about Which would you rather have: unlimited renewals or a six year tail?

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Medicare plans LouisvilleThere are about 1.5 million Medicare Beneficiaries taking advantage of the Low Income Subsidy benefit for MAPD and PDP products (not including Duals), with an estimated two million additional qualifiers who have yet to apply. 

A LIS qualification also triggers a SEP, and can be validated by member attestation, redetermination letter, or SSA award letter. The SEP is continuous, as long as the beneficiary is eligible for the Part D subsidy. 

For those recently losing their status, the SEPs are as follows:

  • Loss of subsidy at the end of a calendar year yields an election period of January 1 through March 31. 
  • January 1 may be used as a proposed effective date in this case if the enrollment is done prior to the end of the year. 
  • Loss of subsidy occurring at any other time runs similarly to the loss of dual status, beginning in the month in which the beneficiary is notified of the loss, and ending two months following the month of notification.