News
Coventry Health Care: CMS Error in Release of First Year Commissions
We recently informed you that on April 29, 2009, the Centers for Medicare & Medicaid Services (CMS) announced the release of the first report that identifies initial Medicare Advantage enrollments (ICEP) and Part D Prescription Drug Plan enrollments (IEP) with a January 1, 2009 effective date. This also included beneficiaries who were previously enrolled in Original Medicare and elected to enroll in a Coventry Health Care Medicare Advantage plan. In keeping with our commitment to you, our valued brokers and agents, Coventry acted promptly on those files and released commission payments via Electronic Funds Transfer (EFT) on Monday, May 25, 2009.
However, we have learned from CMS that there were issues with the data files that were provided to us. Because of this news from CMS, Coventry held the mailing of the paper commission checks due to the CMS error. That means that some of you have not yet received any initial year commission payments if you elected to receive commissions by paper checks. For those of you who received an EFT, we may need to make adjustments accordingly, either through charge-backs or further payments.
The extent of the issue is not currently known, nor do we have a timeframe from CMS as to when they will provide further direction. However, once we receive the information, rest assured that we will act in a timely fashion to adjust the payments, to notify you of any charge-backs, and to distribute correct paper checks (to those who do not receive EFTs). We will also share with you updates related to the issue as we receive them.
If you have any questions, please contact your up-line or local Coventry health plan. If you require additional assistance, please call Coventry Broker Services Department, 1-866-714-9301, Monday - Friday, 8 a.m. - 8 p.m. ET.