CMS has raised the maximum rates of Broker and Agent commissions on Medicare Advantage Plans and Prescription Drug Plans. Here are some of the highlights.
Medicare Part D Maximum Broker Commissions
- Initial commissions increased from $74 per member per year to $78 per member per year
- Renewal commissions increased from $37 per member per year to $39 per member per year
Medicare Advantage Maximum Broker Commissions
- CA and NJ
- Initial MA commissions increased from $601/member/year to $636/member/year. Renewal commissions increased from $301/member/year to $318/member/year.
- CT, PA, and DC
- Initial MA commissions increased from $542/member/year to $574/member/year. Renewal commissions increased from $271/member/year to $287/member/year.
- In all other states (excluding Puerto Rico and the U.S. Virgin Islands)
- Initial MA commissions increase from $482/member/year to $510/member/year. Renewal commissions increased from $241/member/year to $255/member/year.
Note: insurance providers are NOT REQUIRED to pay the maximum commission rate.
Download the interactive spreadsheet and look for commission rates for specific plans in your state or county.