Medicare Part D Maximum Broker Commissions
Initial commissions increased from $92/member/year to $100/member/year, a 8.7% increase YOY.
Renewal commissions increased from $46/member/year to $50/member/year, a 8.7% increase YOY.
Medicare Advantage Maximum Broker Commissions
These numbers are broken out by state/region.
For CA and NJ, initial MA commissions increased from $750/member/year to $762/member/year, a 1.6% increase YOY. Renewal commissions increased from $375/member/year to $381/member/year, a 1.6% increase.
For CT, PA and DC, initial MA commissions increased from $678/member/year to $689/member/year, a 1.62% increase YOY. Renewal commissions increased from $339/member/year to $345/member/year, a 1.77% increase.
For Puerto Rico and the U.S. Virgin Islands, initial MA commissions increased from $411/member/year to $418/member/year, a 1.7% increase YOY. Renewal commissions increased from $206/member/year to $209/member/year, a 1.46% increase.
In all other states, initial MA commissions increased from $601/member/year to $611/member/year, a 1.66% increase YOY. Renewal commissions increased from $301/member/year to $306/member/year, a 1.66% increase.
Here’s a chart comparing the Medicare maximum broker commissions for 2023 vs. 2024.
Maximum Broker Compensation for 2024
|
Initial |
Renewal |
Product |
Region |
2023 |
2024 |
% |
2023 |
2024 |
% |
MAPD |
National |
$601 |
$611 |
1.66% |
$301 |
$306 |
1.66% |
CT, PA, DC |
$678 |
$689 |
1.62% |
$339 |
$345 |
1.77% |
CA, NJ |
$750 |
$762 |
1.6% |
$375 |
$381 |
1.6% |
Puerto Rico, U.S. Virgin Islands |
$411 |
$418 |
1.7% |
$206 |
$209 |
1.46% |
PDP |
National |
$92 |
$100 |
8.7% |
$46 |
$50 |
8.7% |
(By comparison, Medicare Advantage commission increases ranged from 4.31% to 4.95% for 2023.)