Confirm Your Eligibility for Compensation for Plan Year 2017 Enrollments
If you have not completed all the plan year 2017 Marketplace registration steps, then any Marketplace enrollment you’ve completed for the 2017 plan year are not eligible for compensation from insurance companies.
Don’t delay! Check the Registration Completion List (RCL) to confirm your National Producer Number (NPN) is listed for plan year 2017 so that you are compensated. If you do not see your NPN listed for plan year 2017, you must complete registration. See this resource for a refresher on the Marketplace registration steps. Then log in to the CMS Secure Portal to complete the registration steps.
If your NPN is on the Marketplace RCL for plan year 2017, then you can:
- Display your contact information on Find Local Help so consumers can find you to enroll in coverage
- Access the new Agent/Broker Direct Call Line
- Enroll clients in Marketplace coverage, including through issuer or web-broker direct enrollment channel
- Get paid for enrolling clients in Marketplace plans
Help Consumers Determine Eligibility for the Premium Tax Credit
Nearly 85% of current Marketplace consumers and Marketplace-eligible uninsured Americans qualify for tax credits that help make coverage affordable. Most consumers receiving financial assistance will be able to find coverage for less than $75 per month. Help consumers determine their eligibility by using the yes-or-no questions in this resource.
While several consumers qualify for tax credits, many are being denied a subsidy from the government due to tax-related reasons. Read more about it here.
New Payment Notice Hopes to Stabilize the Marketplace
On December 16, CMS issued the 2018 Notice of Benefit and Payment Parameters final rule and the Annual Letter to Issuers for 2018. This aims to further strengthen the Health Insurance Marketplace that that many Americans rely on for coverage. Check out the 2018 payment notice here.
CMS Issues New Agent/Broker Commission Guidance
Due to high costs and the instability of the marketplace, some issuers are reducing or eliminating commissions and other forms of agent and broker compensation in order to discourage them from offering coverage to high risk individuals. Check out this resource by CMS for frequently asked questions addressing these discriminatory practices.
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We hope that this information on open enrollment is useful to you.
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
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