Earlier in the thread, the topic of the $100 referral/finder fee came up.
After reading everything in the marketing guidelines, here is how I understand it. If anyone has further thoughts on it - I'd appreciate it, but this is how I understand it. Am I wrong?
Referrals from clients and/or people on Medicare
From section 30.9
We can solicit referrals as we always have done. We can't mention any gifts if writing a letter - but we can give a gift as a thank you for a referral just like we've always done - it must be of nominal value, not based on a sale
Nothing has changed. The main thing to note is that we can't
pay a mapd
client $100 for a referral...
Referrals from agents / finders fees
This fee can be
contingent upon a sale. It's included in the list of "remuneration of any kind relating to the sale
." (commissions, bonuses, gifts, prizes, awards, and referral/finderís fees).
The limit is $25 for PDP or $100 for MAPD
The referral source receiving the $100 does not need to be certified, so it seems
So, if John - a local p/c agent that I know - refers someone to me and I sign that person up for a PDP, then I can pay John $25 if I want to
. If he refers someone to me and I sign that person up for a MAPD
, then I can pay John $100 if I want to
If he refers someone to me and they sign up for nothing, then I don't need to pay John as my agreement with John is that the finder fee is
based on the sale.
Is that correct? Or does the other agent need to have a health license? It doesn't say - it just says agent/broker.
The main thing here is that it seems like the guidelines treat referrals from "customers/prospects on Medicare" differently
than referrals from those whom we've networked with professionally - like another agent.
Link to the guidelines
in case anyone is interested.