Managers of Cover Oregon public health insurance exchange say they are doing better at processing agents and broker commission payments.

Managers of the state-based exchange have included a summary of commission payment performance in a report included in a new board meeting packet:

  • In August, the exchange received $874,044 in producer commission deposits and paid about $1 million in commissions.
  • In July, the exchange received $824,962 in commission deposits and paid $778,620 in commissions.
  • The number of agents or agencies paid increased to 746 in August, from 698 in July.
  • The percentage of commission deposits processed during the current month increased to 95 percent, from 89 percent.
  • Total producer commission balances have fallen to $216,789, from $344,024.

The exchange is still trying to get the percentage of commissions paid during the correct month to 100 percent, managers say. The exchange has hired more commission unit workers to speed up processing.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Allison Bell

Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.