SilverScript 2019 Compensation Update

2018-08-15 // News

AMAC Broker Services SilverScript Commissions 2019 Update. Please review the commission  updates for SilverScript Insurance Company for Plan Year 2019.

AMENDED ADDENDUM TO****EXHIBIT D OF THE MARKETING SERVICES AGREEMENT (For 2019 Plan Year)

Pursuant to Exhibit D of the Marketing Services Agreement (the “Agreement”) between SilverScript Insurance Company (“SilverScript”) and AMAC Broker Services (the “Company”), this addendum (the “Addendum”) is effective as of January 1, 2019. Terms used, but not otherwise defined herein or in the Agreement, shall have the same meaning as such terms defined in 42 CFR Part 423, Subpart V or the Medicare Communications and Marketing Guidelines published by CMS. Compensation will be calculated based on the 2019 Plan Year (i.e. January through December 2019) and will be paid annually during the Plan Year.

Compensation Schedule for SilverScript Part D Plans

1. 2019 Administrative and Marketing Services Compensation. In consideration for the administrative and marketing services performed by the Company for 2019 plan year enrollments, and subject to and as limited by the compensation terms set forth in the Agreement and Exhibit D thereto, which may be modified from time to time with or without notice to Company, SilverScript agrees to pay Company the following fees for SilverScript Part D Plans (“Service Fees”)

-$35 for an Initial Year enrollment in a SilverScript Part D Plan in the 2019 plan year, i.e., where the member is identified by SilverScript as enrolling in an Initial Enrollment Period (IEP), or subsequently identified by CMS as in an IEP or new to the Part D program, or whose enrollment with a SilverScript Part D Plan replaces Part D coverage from a plan that is not a ‘like plan type” to SilverScript; or

-$35 for a Renewal Year enrollment in a SilverScript Part D Plan in the 2019 plan year. As defined by CMS, a renewal year enrollment also includes enrollment in a SilverScript Part D Plan where the member was previously enrolled in a “like plan type” not sponsored by SilverScript.

2. 2019 Commission Schedule for Subagents and Writing Agents. Subject to and as limited by the compensation terms set forth in the Agreement and Exhibit D thereto, which may be modified from time to time with or without notice to Company, SilverScript shall pay to Company and Company shall pay to Subagents the following commissions for the 2019 plan year for the enrollment of eligible beneficiaries in a SilverScript Part D Plan only as follows:

-$74.00 for an Initial Year in a SilverScript Part D Plan in 2019, i.e., where the member is identified by SilverScript as enrolling in an Initial Enrollment Period (IEP), or subsequently identified by CMS as in an IEP or new to the Part D program, or whose enrollment with a SilverScript Part D Plan replaces Part D coverage from a plan that is not a “like plan type” to SilverScript; or -$37.00 for a Renewal Year enrollment in a SilverScript Part D Plan in 2019, which shall equal 50% of the 2019 commission for an Initial Year enrollment (the “Renewal Rate”). As defined by CMS, a Renewal Year enrollment also includes enrollment in a SilverScript Part D Plan where the member was previously enrolled in a “like plan type” not sponsored by SilverScript.

Commissions will be paid only for each SilverScript and CMS approved member, to the extent that the member remains enrolled in a SilverScript plan. If a member disenrolls from the SilverScript plan during the first three (3) months of enrollment (“rapid disenrollment”), SilverScript will recover the entire amount of the Commission paid for that Initial Year enrollment, except in those situations specified in Section 110.7.1 of the Medicare Communications and Marketing Guidelines as not requiring rapid disenrollment recovery. For any disenrollment during the Plan Year other than a rapid disenrollment, SilverScript will recover a prorated amount of the Commission based on those months during the Plan Year in which the beneficiary is not enrolled in the SilverScript plan. The Plan Year Commission will not be prorated based on a beneficiary enrolling in a SilverScript Part D plan after the beginning of the Plan Year if the beneficiary has no prior Part D plan history (as indicated on the MARX agent/broker compensation report). Commissions are payable only for a Medicare beneficiary who is enrolled in a SilverScript Part D Plan as a result of the services provided by a Writing Agent.

Comments

barry mann — 2018-11-06

is there a portal i can go to and download commission reports?