For the seventh year running, CMS has increased the maximum broker commissions for both Medicare Advantage and Part D initial enrollments and continued the growth of maximum Medicare broker commissions for 2022 renewals.
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Ritter has everything you need to know about 2022 maximum broker commissions for Medicare Advantage and Medicare Part D plans so you know what to expect this year in sales.
Note: Insurance providers are NOT REQUIRED to pay the maximum Medicare commission rate. We’ll report when insurance companies release their 2022 filings in the coming months.
Medicare Part D Maximum Broker Commissions
Initial commissions increased from $81/member/year to $87/member/year, a 7.41% increase YOY.
Renewal commissions increased from $41/member/year to $44/member/year, a 7.32% increase YOY.
Medicare Advantage Maximum Broker Commissions
These numbers are broken out by state/region.
For CA and NJ, initial MA commissions increased from $672/member/year to $715/member/year, a 6.40% increase YOY. Renewal commissions increased from $336/member/year to $358/member/year, a 6.55% increase.
For CT, PA and DC, initial MA commissions increased from $607/member/year to $646/member/year, a 6.43% increase YOY. Renewal commissions increased from $304/member/year to $323/member/year, a 6.25% increase.
For Puerto Rico and the U.S. Virgin Islands, initial MA commissions increased from $370/member/year to $394/member/year, a 6.49% increase YOY. Renewal commissions increased from $185/member/year to $197/member/year, a 6.49% increase.
In all other states, initial MA commissions increased from $539/member/year to $573/member/year, a 6.31% increase YOY. Renewal commissions increased from $270/member/year to $287/member/year, a 6.30% increase.
Here’s a chart comparing the increases from last year.
|CT, PA, DC||$607||$646||6.43%||$304||$323||6.25%|
|Puerto Rico, U.S. Virgin Islands||$370||$394||6.49%||$185||$197||6.49%|