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Agent Update
Wellcare Update: Compensation News
Important Compensation News:
New Industry Compensation Adjustment for
2008 New Business with May 1 - July 1 Effective Dates*
Wellcare knows a successful producer's business is enhanced by their attention to compliance and the unique needs of their clients. They also understand the importance of offering competitive compensation to compliant producers.
Therefore, WellCare has announced a new Industry Compensation Adjustment (ICA) for Private-fee-for-service sales with effective dates of May 1, 2008 through July 1, 2008. Please note this ICA also includes an incentive for producers to become trained in and utilize our new TeleApp system. Producers utilizing TeleApp will receive an additional ICA of $50. b (TeleApp will be available to all actively-contracted producers by 4/1.)
For each compliant CMS-approved Private Fee-For-Service application submitted via WellCare's TeleApp system with an effective date of May 1, 2008 through July 1, 2008, WellCare will pay a total ICA of $150.00.
For Example: A producer contracted at the agent level will earn a total of $400 per CMS approved compliant Tele-App enrollment application, payable as follows:
Contract Commission Schedule $250.00
Industry Compensation Adjustment (ICA) $100.00
TeleApp Fee $50.00
Total Compensation $400.00
For each compliant CMS-approved Private Fee-For-Service paper application submitted with an effective date of May 1, 2008 through July 1, 2008, WellCare will pay a total ICA of $100.00.
For Example: A producer contracted at the Agent level who chooses to submit a paper application that is CMS-approved and compliant will earn $350, payable as follows:
Contract Commission Schedule $250.00
Industry Compensation Adjustment (ICA) $100.00
Total Compensation $350.00
By compensating producers for their attention to compliance, WellCare hopes to attract those producers who value the tenets of compliance and integrity as much as we do.
*This document serves as notice of a supplement to the Agent Compensation Schedule. In the event of a conflict the Agent Agreement will control.
Like all WellCare commissions, ICA supplemental commissions are subject to charge backs for disenrollments in accordance with the Agent agreement.
WellCare reserves the right to determine any Agent's continuing eligibility to market its products. WellCare may disqualify agents who it believes have engaged in inappropriate marketing tactics, have violated CMS Marketing Guidelines, their Agreement with WellCare, or applicable laws.
This Compensation Schedule supplement is also applicable to Supported Agents. Supported Agents should refer to their Agreement for their Existing Compensation Schedule Commission.
If you have any questions please feel free to contact our office at 1-800-962-4693.
