Reminder: Control your compensation with Producer Service Fee for small group businesses with 1-100 employees in Delaware, Pennsylvania and West Virginia
Aetna uses a Producer Service Fee (PSF) compensation model for all small group medical cases that are new sales or renewals. PSF puts you in control of your compensation. You can either maintain the state default fee (DE - 5%, PA - 5%, WV - 4%) or work with your clients to determine the rate they pay you for the services you provide. PSF is a simple "one-and-done" process with:
- One initial form to sign
- One bill
- One rate
- One check for payment
Important process notes:
For new sales, a Billing and Collection Agreement (BCA) (Aetna)/ Billing Services Agreement (Coventry) is required at sold case submission. For renewals, the BCA/BSA is due five days before close (if not previously submitted). Once a BCA/BSA is signed, it does not need to be re-signed unless the amount of the PSF changes or there is a new Broker of Record.
We put you in control of compensation with Producer Service Fee. If you have questions, please contact us.
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