2022 MAPD Renewal Rates

[utvolhoopsguy]

I just received my renewals on the 2021 Anthem plans I wrote. I am used to getting paid whatever the renewal rate for the year I wrote the policy in, some going back to 2010 are as low as $18 monthly. I received $23.91 for my 2021 renewals, which apparently is based on the 2022 commission of $287 per year. Does this mean that all renewals for previous years are going to be paid at this rate? I can't find the information on CMS or any carrier sites.

 

[GoPokes]

I think each carrier has the freedom to choose how they want to do it. Aetna has paid renewals at current rate for several years. UHC started doing it recently, but only on business written in 2020+ (i think that's the year).

It would be nice if they'd all do it, but I doubt they will.

 

[DonP]

Correct . Same with Humana . Only on 2020 and later .

 

[Midlevel]

Got my Humana renewals yesterday. Received 15.00 for a few PDP's that I wrote back in 2006.

 

[utvolhoopsguy]

Thanks for the responses guys. Getting extra on 2020-2021 would be great and more than I was counting on.

 

[InsuranceGuy29]

Paying the current year’s renewal rate is a trend that’s likely going to continue until every single carrier is doing it. There are a lot of MAPD companies now, all trying to outdo each other for a broker’s book of business.

The ones paying the old renewal rates are likely crunching the numbers and finding out they’re losing out on a LOT of money by pinching pennies and being cheap with broker pay.

If Company A pays old renewal rates and Company B pays current year renewal rates, and my clients will still get an equal or even better plan with Company B, there’s absolutely no question as to who I’m going to go with for them. Lol.

I’ll tell you this, Humana lost out on a LOT of business from me this year by being cheap and unfair. It’s simply not right to not pay us the current year’s renewal rate, regardless of what year they were written in, and I don’t appreciate it.

They make a TON of guaranteed money on these plans. They can throw the few extra quarters and dimes to us every year…..the people actually working hard and making this possible for them.

 

[ICACharleston]

Thanks to the OP for bringing this up. I just looked at my latest statement and see the spread is from $17-$23.92 on my renewals. More incentive to rewrite them on the newer plans PLUS something new to bitch about!

 

[wehotex]

Paying the current year’s renewal rate is a trend that’s likely going to continue until every single carrier is doing it. There are a lot of MAPD companies now, all trying to outdo each other for a broker’s book of business.

The ones paying the old renewal rates are likely crunching the numbers and finding out they’re losing out on a LOT of money by pinching pennies and being cheap with broker pay.

If Company A pays old renewal rates and Company B pays current year renewal rates, and my clients will still get an equal or even better plan with Company B, there’s absolutely no question as to who I’m going to go with for them. Lol.

I’ll tell you this, Humana lost out on a LOT of business from me this year by being cheap and unfair. It’s simply not right to not pay us the current year’s renewal rate, and I don’t appreciate it.

They make a TON of guaranteed money on these plans. They can throw us the few extra quarters and dimes to help us out.

LOL. I am doing the same thing with my Humana book!! As you indicate, it's not ONLY the past business that is converted, but also current and future assuming that Humana is par/subpar in your respective market.

 

[DonP]

Humana’s paying the full $23.90 on all renewal business from 2020 on right ?

 

[ICACharleston]

Humana’s paying the full $23.90 on all renewal business from 2020 on right ?

That's the first post in 6 months that makes me think Humana DOESN'T have a death wish.