Agent Commissions in Medicare and the Impact on Beneficiary Choice
For example, for 2022, CMS has set the maximum national commission for first-time enrollment in MA at $573 per beneficiary for most parts of the country. In California, however, the maximum first-time commission is $715. For standalone Part D plans, the 2022 maximum national commission for first-time enrollment is $87 and does not vary by region. These commissions are paid when the beneficiary first enrolls in an MA or Part D plan. Additionally, you need to acquire appropriate licenses as required by your state. The key to really becoming a great top Medicare agent is by committing to ongoing Medicare agent training. A great way to do this is connect with your FMO (assuming it’s an FMO that offers Medicare) and asking what their Medicare agent training programs look like. You can choose from many different options from your insurance CE provider and they will guide you through the requirements for your resident state. Here are the 7 steps you need to follow to become a Medicare insu...