Under traditional arrangements, licensed agents and brokers receive commissions from insurers for selling policies. In contrast, insurance consultants typically charge fees directly to clients for advisory and placement services, rather than being compensated by carriers. Previously, CMS rules were interpreted as limiting or prohibiting the use of consultants in Medicare Advantage sales, on the grounds that such arrangements could conflict with federal compensation regulations.
CMS clarifies rules on consultants in Medicare Advantage sales
By Awais
