Coventry's "Referral Fee"

[G.Gordon]

Got that email too. We "referred" over 100 of them. Nice check in time for St Martin...

 

[bpenn9]

I've written about 80 of them and not gotten paid a dime on any of them. When I called last month to find out when I might get paid they stated they are waiting for the rapid disenrollment period to end (90 days) before they pay. Then on Friday I received the following email:

[FONT=&quot]April 6, 2012[/FONT]

[FONT=&quot]First Health Part D Value Plus One-Time Referral Fees [/FONT]​

[FONT=&quot]for January 2012 Effectives Are On Their Way![/FONT]​

[FONT=&quot]Thanks to your support, First Health Part D had the highest net gain in the nation during the 2012 Annual Enrollment![/FONT]

[FONT=&quot]This month, Coventry begins routine processing and the release of [FONT=&quot]Value Plus[/FONT] Part D one-time referral fees*. Brokers and agents eligible to receive referral fee payments for January 2012 effective enrollments can expect electronic deposits to their bank accounts in the middle of April. February effective [FONT=&quot]Value Plus[/FONT] membership will process in early May and payout will occur mid-month; March effectives will process in early June and payout will occur mid-June, etc. [/FONT]

You mean you have referred 80 of them right?

 

[sman]

Officially it's a referral fee, but I assisted virtually all of those people with completing an online enrollment. So I'll say I "wrote" those and you can call them what you want. By assisting I was assured of having it done correctly so that I get the credit.

 

[Midlevel]

Some agent's were allowed to write them through Senior Market Sales, didn't quite understand that one.

 

[sman]

Just received an email with a link to my commission statement for the referral fees. Now I get to cross check to make sure I got paid on all of them.

 

[Midlevel]

Just looked at my commission statement and I was paid on 8 members I referred at $28.00/piece. $224 and didn't have to fill out an application, too bad it doesn't pay out every year now.

 

[sman]

Just looked at my commission statement and I was paid on 8 members I referred at $28.00/piece. $224 and didn't have to fill out an application, too bad it doesn't pay out every year now.

That certainly is the downside (no renewals). But maybe there will be another plan more competitive next year.

 

[Midlevel]

Probably 5 more plans that go to referrals only since it worked for Coventry Value Plan. Oh well, nobody is going to get rich selling PDP's. Just an added service to our clients which is fine.

 

[The Rabbi]

Why refer when you can just contract with them and get all the money, including renewals?

 

[G.Gordon]

Most of us, me anyway, are contracted with First Health part D, but you can't be an "agent" for an enrollee that wants/needs the "value plus" plan. You have to tell them to call a number or send them to the website to complete the enrollment and tell/ask them to mention your name/agent number as the referring agent. Ta'da... you get $28. We are getting credit for doing that 112 times.