Announcing 2024 Medicare Advantage and Part D Commissions

The Centers for Medicare & Medicaid (CMS) recently announced the maximum 2024 commissions on Medicare Advantage and Medicare Part D plans. Medicare agents will continue to see compensation grow in 2024, with rates growing almost 2% nationally.

Initial commissions for Medicare Advantage in California were raised from $750/member/year to $762/member/year, which shows a 1.6% increase. Renewal commissions went from $375/member/year to $381/member/year, which shows a 1.6% increase. Nationally, commissions grew from $601/member/year to $611/member/year, increasing by a little more than 1.6%. The national renewal commissions increased by 1.6% from $301/member/year to $306/member/year.

For Medicare Part D, national initial commissions increased by 8.7% to $100/member/year and renewal commissions increased by 8.7% as well to $50/member/year. See the detailed memorandum from CMS with the initial and renewal commissions in 2024 for Medicare Advantage and Medicare Part D, broken down by region.

For nine years running, CMS has increased the maximum broker commissions for both Medicare Advantage and Part D initial enrollments as well as heightened renewal amounts. For agents interested in partnering with JAR Insurance Services to advise Medicare enrollees, this news means even more confidence in your ability to achieve financial growth and independence.

With your prosperity as the priority, you can find success without dependence. Speak with our support team today to become a JAR agent and take your business to the next level.

Want to maximize your earning potential with these rising commission rates? Consider partnering with JAR Insurance Services. As a JAR agent, you’ll receive unparalleled support to help grow your business and serve Medicare beneficiaries. Learn more about the many benefits of working with us here.