2013 Agency Commission Program and Tiers!
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We are excited to share our January 2013 Commission program with you four months before it becomes effective. Why announce so early? Because good news is worth sharing extra early. Plus as you will see, YOU control what tier you will be in for compensation, so this allows your agency four sales months to get or stay where you want to be.
As you know, we have had a four level tier structure commission schedule for the last few years. We are excited not only to continue this structure for 2013 but to be able to put clear guidelines and numbers behind the tiers. It's simple - your production determines what tier your agency is assigned.
These are a few highlights of the 2013 program:
- We are keeping the percent-of-premium commission structure.
- We are significantly increasing new business commissions for Tier One and Tier Two agencies on groups with 15 to 99 enrolled employees.
- Example A: Tier One commission on clients with 51 to 99 employees increasing to 5% from 4% - a 20% increase
- Example B: Tier One commission on clients with 15 to 50 employees increasing to 6% from 5% - a 17% increase
- We are not making any changes to existing/renewal commissions on any tier.
- Based on the number of appointed agents, we will have two agency designations: Small Agency (1 or 2 agents) and Large Agency (3 or more agents).
- Tier assignment will be determined by the agency's active book of business on January 1, 2013. Your sales and renewals through January 1, 2013 will determine your book size.
- Agencies must have a minimum number of active subscribers on January 1, 2013 to remain appointed/contracted with us. A Small Agency must have at least 30 subscribers and a Large Agency must have at least 50 subscribers. Note: agents in select markets such as Northern Virginia are not subject to these minimum numbers for 2013.
- Focusing all of our support and resources on the agencies that have at least the minimum number of subscribers will help us provide better and faster service to the agencies that have the most business with us. We cannot continue to train, quote, and support agencies with little or no business with us.
A new Attachment A will be mailed to all appointed agencies in the next few weeks. Please contact your Account Executive or Account Manager with any questions about this program or your current book of business with Coventry Health Care of Virginia, Inc.
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Safe Senders
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If you are not receiving emails notifying you that a new commission statement is available, please check to make sure that the email address coventrycommissions@cvty.com is in your "safe senders" list. Do not send an email to this address. Instead, call 800.438.4029 for any questions regarding commissions.
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| PPO products are underwritten by Coventry Health and Life Insurance Company and administered by Coventry Health Care of Virginia, Inc. |
