Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 71.00 - Medicare Supplement Insurance To Facilitate The Implementation Of M.G.L. c. 176k And Section 1882 Of The Federal Social Security Act
Section 71.18 - Permitted Producer Compensation Arrangements

Universal Citation: 211 MA Code of Regs 211.71

Current through Register 1531, September 27, 2024

(1) An Issuer or other entity may provide commissions or other compensation to a producer for the sale of a Medicare Supplement Insurance Policy only if the first year commission or other first year compensation is no more than 200% of the commission or other compensation paid for selling or servicing the Policy in the second year or period.

(2) The commission or other compensation provided in subsequent (renewal) years must be the same as that provided in the second year or period and must be provided for no fewer than five renewal years.

(3) No entity shall provide compensation to its producers and no producer shall receive compensation greater than the renewal compensation payable by the replacing Issuer on renewal Policies if an existing Policy is replaced.

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