Here is a link to the Reuter’s story. Revenue increases were driven by their Medicare and Medicaid businesses. Revenue for Medicare grew 13% and Medicaid revenue jumped 21%. The stock price didn’t change much as a result of the announcement.
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Craig Ritter
I understand that but after a company submits its commission schedule to CMS for the year , don’t they have to get approval from CMS to amend that?
They are just politely asking you to not submit any Dualies at this time.
Such large profit but cut in commissions…
Once companies have submitted their commission process to CMS for they year can they just decide to stop paying commission at any given time for no reason?
In addition, can they stop paying renewals any time they want for no reason?
May 25, 2010
UnitedHealthcare Medicare Solutions Florida Dual Special Needs Plans (SNPs) require coordination between the health plan and State Medicaid agencies to successfully maximize the benefits to members. The plans work best when all parties coordinating member care are in sync – providers, health insurance carrier and Medicaid offices. In the State of Florida, we have experienced a breakdown with this coordination. In response to the current issues we are facing in Florida, UnitedHealthcare Medicare Solutions will no longer pay commissions on new applications written on or after 7/1/2010 for certain Evercare Dual SNPs in Florida .
Thank you for your continued commitment to our members.