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Broker News | April 2018 | Vol. 13 No. 4
Broker News | April 2018 | Vol. 13 No. 4

Introducing the 2018-19 Broker Bonus Program

Pending DFS Approval

New Experience Rated Business Incentive*

Potential Earnings:

  • New Experience Rated contracts with an effective date between 7/1/18 and 1/31/19 will be paid a $10.00 Per Contract Per Month incentive in a one-time total payment based on the total number of contracts in effect as of the effective date.
  • Payment will be issued in the month following the effective date.

EXAMPLE: 

New Group Effective 7/1/2018  
Contracts 250
Incentive Per Contract Per Month x $10.00
Month x 12
Bonus paid in August = $30,000
  • For groups retained in year 2, a $5.00 Per Contract Per Month incentive will be paid in a one-time total payment based on the total number of contracts in effect as of the second renewal date.
  • For groups retained in year 3, a $2.50 Per Contract Per Month incentive will be paid in a one-time total payment based on the total number of contracts in effect as of the third renewal date.

Qualifications for Earning Agent Incentive:

  • Only contracts from newly sold experience rated groups qualify toward the calculation of the incentive. Growth on existing clients is not eligible.
  • If a qualified group is terminated before the renewal date, the Health Plan has the right to recoup any previously payments made under this program.

 

New Experience Rated and Self-Funded Business Agency Incentive*
(Lifetime Benefit Solutions (LBS) business will be included in the calculation)

Potential Earnings:

  • The Agency will be eligible for a new business incentive based on the schedule below for experience rated and self-funded business for both EHP and LBS.
  • Payments will be made based upon the total number of contracts in effect as of 1/31/19 for any new groups effective between 7/1/18 and 1/31/19.
New ER & SF Medical Contracts Payment
 500-999 Contracts  $50,000.00
 1000-1999 Contracts  $100,000.00
 2000 or More Contracts  $150,000.00
  • The agency with the highest volume of new experience rated and self-funded contracts with an effective date between  7/1/18 and 1/31/19 will receive an additional $100,000.
  • Only brand new experience rated and self-funded groups qualify toward the calculation of incentive. Growth on existing clients is not eligible.

*Transfers from Lifetime Benefit Solutions do not apply.

 

 

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