Release of Initial Year Commission Payments for Coventry

Coventry just let us know that they are currently processing the corrected data from CMS that identifies Medicare Advantage (ICEP) and PDP (IEP) enrollments iwth a January 1, 2009 effective date. This includes members who moved from Original Medicare into a Coventry MA plan.

EFT and paper check payments will be made this week. For those who received an EFT payment in May, you may see chargebacks or other adjustments on your corrected EFT's.

There has been a strong, industry-wide concern voiced about CMS ruling on MA and PDP commission rates for 2010. CMS is suspending the implementation of these requirements and expects to issue clarification shortly. CMS ia also examining it's guidance pertaining to 2009 enrollments and whether agents should be paid Initial Year commission for 2009 enrollments from a PDP to a MA plan.

Depending on timing of CMS clarification and barring any additional changes from CMS, initial year payment to brokers for February, Marchy and April 2009 effective dates should be issued in mid-July.

We understand that this is a very frustrating and confusing situation for agents. If you have any questions on these commission issues or anything else, please feel free to contact Senior Marketing Specialists. You can reach us by phone at 800-689-2800 or email charli@smsteam.net. We'd love to hear from you!