Prescription Drug Plan (PDP) Compensation Updates
As 2025 approaches, significant changes are on the horizon for Prescription Drug Plans (PDPs), largely driven by the Inflation Reduction Act (IRA). These changes include the elimination of the Coverage Gap (or “donut hole”), a new $2,000 out-of-pocket spending cap, and adjustments in cost-sharing responsibilities during the catastrophic coverage phase.
In light of these shifts, Wellcare has made the difficult decision to cease new and renewal commissions for their PDP products starting January 1, 2025. Meanwhile, Aetna’s SilverScript Choice PDP will be offered as a non-commissionable product nationwide, with renewal commissions continuing on existing commissionable business.
Stay informed and prepared as these updates will impact your approach to PDP offerings in the upcoming year.
WellCare: Transitioning from Medicare Supplement to Medicare Advantage Crossover Training
Wellcare’s Business Acumen – Selling Against Medicare Supplement Join us as we dive into key topics:🔹 Annual price increases for PDP and Medicare Supplement🔹 The growing low-income population and its […]
CMS Announces 2025 Part D Bid & Premium Stabilization Demonstration Program
The Centers for Medicare & Medicaid Services (CMS) recently announced some exciting developments for Medicare Part D. On July 29, 2024, alongside preliminary 2025 Medicare Part D bid information, CMS […]
Important Update from CMS! Is Employer sponsored health insurance coverage still creditable in 2025?
CMS recently released the Final Calendar Year (CY) 2025 Part D Redesign Program Instructions that provides guidance regarding the implementation of section 11201 of the Inflation Reduction Act of 2022 […]
CMS’ 2025 Proposed Rule – Agent Commissions
The Centers for Medicare & Medicaid Services (CMS) annually releases a memorandum that sets the stage for the healthcare industry by establishing the maximum Fair Market Value (FMV) for Agent […]
The Centers for Medicare & Medicaid Services (CMS) revealed on Thursday, August 31st 2023, that the initial group of ten Medicare Part D medications slated for negotiation under the Inflation Reduction Act (IRA) has been identified.
These drugs have been designated based on the outlined criteria within the IRA. This legislation mandates that CMS prioritize drugs with the highest Medicare expenditure and minimal competition, among other […]
NorCal Medicare Summit 2023 – Sail Through AEP
(All Times PDT) At This Event:
AHIP Certification for 2022
MWFA training for 2022 opens today with AHIP training now available via their online portal. Find out how to get an AHIP training discount and more.
2020 Medicare Part A & B Premiums and Deductibles
CMS released information on 2020 premiums and deductibles. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts.
CMS Raises Maximum Rates of Commissions
For the 5th year in a row, CMS has raised the maximum rates of Broker and Agent commissions for Medicare Advantage Plans and Prescription Drug Plans. Here are some of the highlights.