Exchange Commissions!!!!

[RayNY]

Commission announcements are coming slowly, I'll update this as more carriers release their information.

EasyChoice(Formerly Atlantis)-Intends to continue 4% on all product (as per off-exchange filing, unofficially confirmed)

EmblemHealth filed for 0%, hard discontinuance on all existing products/contracts/commissions, no product being offered on or off exchange in the Indiv or SG markets. It looks like their entire block will be moved to HIP.

North Shore LIJ-2% to brokers (as per Crain's Pulse press release 7/17)

 

[houcoogster]

The title of this thread should have been Exchange Peanuts!!!!

 

[RayNY]

Based on off-exchange filings, looks like HIP/GHI/Emblem Health will be offering 0% commission, and no GA overrides.

Additionally, they have started offering online enrollment with the option to pay by credit card on their website.

(Off-exchange anyway. On-exchange redirects to the official NY exchange website).

Talking about exchange peanuts....

 

[RayNY]

So I took a census of every company's off-exchange rate filings:

Aetna=2%Indy, 6.1%SG, $6.55 GA override, indy is variable based on production
EasyChoice 5.5% Indy, 5.5% SG
EmpireBCBS=1.44%Indy, 1.91%SG (indy is~ $5pmpm, sg ~$8pmpm)
Excellus= 2%indy, 4%sg, 4.5%Lg (indy will be paid PMPM, LG is paid on a sliding scale, production minimums to qualify for comp)
GHI=0% indy, 0%sg, 0%GA
HIP= 0% indy, 0% sg, 0%GA
IHBC= 1.44% Indy, 1.4% SG
IHA HMO= 2.5/2.5/4% SG (production based, <$250k, between, >750K)\
Managed= 0% Indy, 0% SG, $0 GA
MVP= 3% Indy, 4% sg
NS-LIJ= 2% Indy, 3.57% SG
Oxford= 0.5%Indy, 3% SG
United Health= 5.17% SG

Freelancers, Healthnow, MetroPlus, and Oscar either do not have public filings or did not include commissions.

**These are not final or official or approved, these are what was submitted for approval specifically for off-exchange products. **

 

[RayNY]

So, shockingly, it turns out the rate filings were complete garbage.

NS-LIJ made it clear that it's 2% indy, 4% small group. Kudos to them.

Empire confirmed a highly tiered flat-rate compensation program on a webinar last week. Shockingly, on the individual market, they are going as high as $15 PER HEAD (so yes, a family of 4 is $60pm). This breaks down to a near 5% comp. Small group is going to be per contract, with different rates on products, breaks down to a 2-3% comp. I cant post the specifics, nothing has been released outside of the webinar. This is the same company that cut us down to $5 flat PCPM not to long ago and angered the whole broker community in the state. They now come out with what appears to be the most generous comp for 2014. They're going to get a busload of business.

Interestingly, all programs, even EPO platform, required a PCP and prior auth.

Emblem/HIP/GHI looks like the 0% is real, but there will be 3% on the HMO product. Looks like they're once again using comp to drive enrollment in the plan of their choosing.

Easy Choice has said 4%, the filed 5.5% indicates they may be paying GA money. We'll see when official figures get released.

There are still some companies missing that I have no info on (Oscar, Freelancers (now "Health Reupblic"), Metroplus, Healthnow)

 

[SmithC0077]

Does anyone know what Oscar is paying for Commissions?

 

[RayNY]

Not yet public, initial rumors put it between $10-$20 PMPM, probably based on tier of coverage (i.e. a family is worth more than an individual).

Considering their rates, it's probably somewhere in the normal NY 2-3% ballpark, but will be paid as a flat-fee, like so many other carriers have opted to do.