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.
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 […]
Tips and Tricks for Mastering the 2025 AHIP Certification
Are you ready to conquer your AHIP certification with ease? Preparing for the 2025 Annual Enrollment Period (AEP) can be overwhelming, but with the right strategies, you can navigate the certification process smoothly. Our guide provides essential tips and insider information to help you master your AHIP certification. Learn how to schedule and complete necessary certifications promptly, review training modules thoroughly, and make the most of practice quizzes. Early preparation and diligent review are key to your success. Check out our solutions to streamline your search for details, and ensure you’re well-equipped for a successful AEP. For more information or assistance, visit agents.taia.us.
Supporting Your Clients on Their Alzheimer’s Journey
As insurance professionals, you provide valuable support to individuals and families. Understanding how to support clients who are either already diagnosed or show possible onset symptoms of Alzheimer’s disease gives […]
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 […]
National Immunization Awareness Month
Happy August Brokers! AEP is fast approaching, and we are here to help you prepare! Considering this month’s focus on Immunization Awareness, we want to ensure you’re well-prepared with the […]
A Preview of 2022: 7 Changes to Medicare Part D Defined Standard Benefits
Around this time every year Center for Medicare and Medicaid Services (CMS) releases the benefit parameters for Part D’s “Defined Standard Benefit” plan, as well as the parameters for the […]
CMS Announces 2022 Commission Increases for Medicare Advantage & Medicare Part D
The Centers for Medicare & Medicaid Services (CMS) announced an increase to the maximum broker commissions for Medicare Advantage & Medicare Part D plans in 2022.
2021 Broker Commissions for Medicare Advantage & Medicare Part D
CMS has released the maximum broker commissions for Medicare Advantage and Medicare Part D for 2021. Please note: compensation varies by carrier. The carriers are not required to pay the CMS maximum amount.