RECORDED WEBINAR FROM 2/13/2014
The Department of Health and Human Services (HHS) and Centers for Medicare / Medicaid Services (CMS) released a report stating they want to restructure the MA commissions, changing from a 3 tier system to a 2 tier system.
CLICK HERE FOR THE FULL REPORT / FEDERAL REGISTER
See page 1934 Section 13 for the overview.
Overview:
Current Structure:
Initial MA - 100% Commission
Replacement / Renewal - 50%
After 7 years - 25%
Proposed Structure:
FMV (fair market value) for initial commissions
Renewal / Replacement - 35% of FMV
WHAT YOU CAN DO
Read the report. The section mentioned above that reviews broker compensation is only a couple pages long.
Contact your state and federal representatives and let them know your concerns. http://www.contactingthecongress.org/
Here is a simple draft letter for you to use or edit as you see fit:
CLICK HERE TO VIEW / DOWNLOAD
To reply to the initial report from CMS:
Centers for Medicare & Medicaid Services, Department of Health and Human Services, Attention: CMS-4159-P,
P.O. Box 8013, Baltimore, MD 21244-8013.
Comments are due before March 7, 2014 at 5 PM
You may also reply electronically: http://www.regulations.gov/ Follow the Submit a comment for instructions.
There is also a tip sheet for submitting comments. CLICK HERE TO VIEW/DOWNLOAD
Have questions or would you like more info? Contact us
www.smsteam.net
1-800-689-2800
