Medicare Advantage & Part D
The Centers for Medicare & Medicaid Services (CMS) released data for each Medicare plan identifying the renewal and initial compensation for 2021 agents/brokers selling health or drug plans. Below you will find information regarding the updates on maximum broker compensation. In comparison with the previous year, 2021 has increases in maximum commissions. Below you will find information regarding MAPD and PDP commissions on national and state-specific levels. Important to note that carriers are not required to pay the maximum. More information from CMS.gov here.
Agent Compensation for 2021
|Product||Region||Initial Compensation||Renewal Compensation|
|Prescription Drug Plan (PDP)||National||$81||$41|
|Medicare Advantage Prescription Drug (MAPD)||CA, NJ||$672||$336|
|Medicare Advantage Prescription Drug (MAPD)||CT, PA, DC||$607||$304|
|Medicare Advantage Prescription Drug (MAPD)||Puerto Rico, U.S. Virgin Islands||$370||$185|
Prescription Drug (MAPD)
|Rest of the states not stated above||$539||$270|
For 2021 Prescription Drug Plans (PDP) are $81 for initial enrollments and $41 for renewals. This is over a 5% increase from 2020 figures.
For 2021 Medicare Advantage Prescription Drug plans there has been above a 5% increase across the board. Certain regions had the exact same changes and are stated below.
California and New Jersey MAPD maximum compensation has risen to $672 for initial enrollments and $336 for renewals.
Connecticut, Pennsylvania, and Washington D.C. MAPD maximum compensation has risen to $607 for initial enrollments and $304 for renewals.
Puerto Rico and the U.S. Virgin Islands MAPD maximum compensation has risen to $370 for initial enrollments and $185 for renewals.
For the rest of the states not mentioned above MAPD maximum compensation has risen to $539 for initial enrollments and $270 for renewals.
We Can Help You
Do you need more tools to increase your book of business? We can help you. iPros Insurance Professionals offers an online shop, compare, and enrollment tool where you can sell MAPD and PDP plans. All your carriers on one platform. iPros also has the training, support services, and a new Customer Relationship Management tool set to launch in 2021. For more information call (800) 266-3942 or press the button below to contact us!