SilverScript Joins Cigna and Aetna to Offer Lifetime Renewals on PDP Plans

  • Originally published August 31, 2012 , last updated April 24, 2018
  • SilverScript
SilverScript Joins Cigna and Aetna to Offer Lifetime Renewals on PDP Plans

Just as Cigna and Aetna announced lifetime renewals, SilverScript has joined in offering lifetime renewals on its PDP plans. SilverScript will now pay renewal compensation beyond the six-year cycle defined by CMS as long as the following conditions are met. Renewal commissions for Subagents will continue to be paid for each renewed enrollee if the Subagent remains in compliance with CMS requirements, maintains good standing with SilverScript, and has not otherwise breached the SilverScript Subagent Agreement. “Good standing” shall include maintaining a valid license, state appointment, annual training and testing, and other requirements for marketing and payment of compensation, as modified by SilverScript or CMS. Training and testing certification must be completed by the last day of the Annual Election Period to remain in good standing for renewals in effect the following plan year (e.g., by December 7, 2013, for renewals for the 2014 plan year).

This only applies to SilverScript Marketing Agents. Referral Agents are only eligible for a one-time referral fee and are not paid renewals.

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