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The Affordable Care and Patient Protection Act limits carriers' non-medical expenses, including Consultant fees. Beginning July 1, 2011, Coventry Health Care will be implementing a new process for collecting Consultant fees for groups with 100 or more enrolled employees in Virginia and West Virginia. The improved process grants brokers a new level of control over their own income and offers maximum flexibility for you to set the appropriate fee to be charged to the employer, accounting for unique services offered by your agency. Coventry Health Care will be administering this process at the group level.
To offer you a simple and straightforward experience, Coventry Health Care will:
- Provide a template Billing Services Agreement which, when signed by your client, makes it easy to implement the Consultant fee process.
- Act as a third-party administrator managing various Consultant fees you establish with your clients in Billing Services Agreements.
- Deliver a seamless employer experience by offering a single invoice that includes both premiums and Consultant fees.
- Remit the portion of fees received from the employer to you as premiums are paid.
If you currently have a client with 100 or more enrolled employees, Coventry Health Care will be sending you an amendment to the Agency Compensation Agreement reflecting the improved Consultant fee process. Because we will no longer be including commissions as part of the premium, we need to ensure that Coventry Heath Care is legally authorized to bill and collect your Consultant fee effective July 1, 2011. Please ensure that you have returned an executed Billing Services Agreement to us by June 1, 2011.
If you are interested in taking advantage of this pass-through process for your clients with between 51 and 99 enrolled employees, Coventry Health Care will offer you the option of doing so. This option is available to you for new sales or renewals effective July 1, 2011.
Coventry Health Care values your contributions to our membership. We will continue to make every effort to deliver efficient and flexible operations so you can be most productive. Please contact your Coventry Health Care representative with questions.
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