Healthcare Finance News April 10, 2024
CMS is setting fixed payments and is closing loopholes that result in commissions above this amount.
The Centers for Medicare and Medicaid Services is cracking down on compensation to agents and brokers, in a final rule released last week.
Excessive compensation and other bonus arrangements offered by plans to agents and brokers can result in individuals being steered to Medicare Advantage and Part D plans that meet the agent or broker’s financial interests, rather than the needs of enrollees, CMS said.
“CMS is cracking down on that,” the agency said.
Specifically, CMS is finalizing requirements that redefine “compensation” to set a clear, fixed amount that agents and brokers can be paid regardless of the plan the individual enrolls in. The...
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