Coventry Release of 2009 Commissions

[retread]

Coventry just issued a confirmation of what has already been posted in other threads about 2009 CMS guidelines. That is: 1) 6 year cycle, FYC followed by 5 renewals -2) renewals at 50% FYC -3) No FYC until CMS approves on a case by case basis, i.e. new to Medicare, new to MA, or "unlike to unlike" (which is very vague) -4) all others (MA switching plans) will be at renewal rate.

Again, no word on retroactive considerations.

Rates are published by FMO if in your upline, or by separate correspondence if contracted direct.

 

[MedSuppPro]

COVENTRY AM BEST REPORT OUT TODAY! READ IT.

Then ask yourself if you think they will pay for retroactive.

My Coventry FMO is still sitting on the upper non-street levels commssions.

What do you tell your star producers?
NOTHING! What a de-motivator!

November 21st and still no word yet as to what the upper non-street level will be.

 

[Newby]

Am I reading this letter I recieved from Coventry yesterday correctly?

It says that renewal commissions for ALL 2009 MAPDs will be $85 and everything will be paid at renewal rates only. This is supposed to be some new CMS guideline.

I guess we need to write them a check back for the difference on the ones we were already paid for?

 

[mcday]

Last week I got a notice from Coventry that I owed them $2.

I sold one PDP plan and they had sent me a check for $27 a few weeks after it sold. I guess they only wanted to pay me $25 and they want their $2 back :-)

This whole thing is a mess. I don't even want to deal with it anymore!

 

[Insuranceman]

I just got a notiice that I owe Conventry $ 2,700.

 

[jdeasy]

I just got a notiice that I owe Conventry $ 2,700.

Why do they say you owe that? What's it for?

 

[Insuranceman]

Coventry kept paying me renewal commisions of $ 225-$ 250 when CMS put a $ 200 cap on MA plans. They are charging me back the differance now.

 

[patch36]

They are paying a full year renewal ? I thought it was monthly, and at that rate you have a ton of renewals, unless they paid you for the full upcoming year in advance.

I did not start writing Coventry until Feb 2008, so I do not know for sure how I am going to be paid renewals, but I thought it was broken down monthly.
- - - - - - - - - - - - - - - - - -
I looked at the app tracker and I may have been overpaid $1600 so far on new apps, but I have only been paid half of what I have coming on many of them because they are either new to medicare or MA's.

It is a confusing mess. I will never have any idea if it is correct. I have recd about $10k so far, and they owe me another $10k and I evidently owe them $1.6k. And there is no way to really track any of it from my end without a complete audit of my apps. I keep reasonably good records, but damn, this would take several days of ciphering to decipher.

I am glad I do not depend on MA's to pay my bills.

 

[MedSuppPro]

I just got paid for AEP by Coventry! Nothing for "First Year". Now I've got till March 31st to put some cases together. They still scare me!