December 20, 2013
It ain't over until it's over...
    ...2013 sales opportunities, that is

Reminder: You can still sell new business to Virginia small groups for 12/31

For a limited time, small groups in Virginia may still buy medically underwritten and select policies from our current 2013 benefit plan portfolio. 
  
Coventry's 12/31 effective date option is a great new sales opportunity. With this option, your customers can keep their current benefits at 2013 rates. These benefits will be underwritten as they are today.
 
Keep in mind, 12/31 effective date cases must be submitted to medical underwriting by 12/31/13 and finalized (completed for sale) by 1/10/14. In addition, the plans will use 12/1/13 rates and benefits. Coverage for all members will be effective 12/31/2013 through 11/30/14.
  
Earn More

This new business sales opportunity will help you meet your sales goals and earn more in 2013. It's a great way to close out the sales year!

Why 12/31 and not 1/1/14? 

 

On 1/1/14, under the ACA, rates will not be underwritten. This means that until 12/31/13 rates will be:

  • Consistent with current practices
  • Potentially lower than what your customer might pay for an ACA plan in 2014
Act today. Don't let this opportunity pass you by. Contact your Coventry representative to learn more about our 12/31/13 effective date option.

This offer is available for Small Groups 2-50 employees with medical plans only.

2014 Small Group Broker Commission Schedule

As previously communicated in October, brokers selling our small group products with effective dates January 1, 2014 and after will receive 4% commission at first renewal or new sale in 2014. The broker commission payments schedule for 2014 will begin January 20, 2014.

Group Size

Commission Percentage

2 - 50

4%

51 - 100

Broker Pass Through

SG ASO

Broker Pass Through


Important Reminders:
  • Brokers must be licensed and appointed to participate in this program
  • The 4% commission percentage applies only to BenefitExpress Small Group cases (2-50 eligible employees) with effective dates beginning January 1, 2014
  • 51+ and SG ASO groups have Broker Services Agreement (BSA) pass-through compensation
  • Coventry Health Care of Virginia, Inc. reserves the right to change this commission schedule at any time in accordance with the Producer Agreement
  • Coventry Health Care of Virginia, Inc. recommends that all commissions be disclosed
  • Commission scales reflect applicable regulatory requirements
  • New sales bonus programs will be run at specific times during the year
For questions related to commissions, please call our dedicated Broker Commissions line at 800-438-4029, and select option 4.
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