The SEP Retail Bonus Program minimum 50 contracts, maximum $25K bonus
Blue Cross and Blue Shield of Texas (BCBSTX) is excited to announce that we have a new bonus program for special enrollment period (SEP) sales. This bonus is separate from and in addition to the 50/50 bonus program announced last fall.
The bonus program is simple. To be eligible, sell a minimum of 50 new individual qualified health plan (QHP) contracts with effective dates between March 1, 2021 through June 1, 2021 and you’ll earn $25 per contract up to $25K.
Bonus Payout Examples
* A contract is defined as a policy. For example, one contract/policy may have 5 total members. For the purposes of this bonus, we are counting contracts/policies, not members/lives.‡ If a producer sells more than 1,000 contracts during the bonus period, the payout will be no more than $25,000.The maximum award per contracted producer/agency is $25,000.
See below for all terms and conditions.
For more information, please contact your BCBSTX Producer Sales Consultant.
Bonus Payout Information
•The entire bonus amount will be included on a normal monthly commission statement as a one-time payment. The bonus payout is targeted for the September 2021 commission statement typically delivered in mid-October.
•On the payout commission statement, the total award will be displayed as a separate line item in the bonus section of the statement.
•Bonuses are paid to appointed and contracted producers and agencies.
•Multiple Tax Identification Numbers (TINs) may not be combined.
•All bonus payments are subject to federal and state income tax reporting as well as withholding by BCBSTX (if applicable).
Terms and Conditions
•The SEP Retail Bonus Program is for new sales of major medical retail QHPs with effective dates of March 1, 2021 through June 1, 2021.
•The minimum threshold for bonus eligibility is 50 contracts.
•The maximum payout per contracted producer or agency is $25,000.
•The following are not eligible for this bonus program: renewals, ACA dental and supplemental dental and vision policies.
•Contracts/policies must remain active and remain in force for a minimum of 90 days from the effective date to be eligible. If a policy is sold and then terminates within 90 days of the effective date, the policy does not qualify.
•The premium for contracts/policies must be paid current to be eligible.
•Only new individual BCBSTX major medical QHPs qualify for the bonus program. Both on- and off-exchange plans as well as MyBlue Health HMO, Blue Advantage HMO and Blue Advantage Plus plans are eligible.
•Business submitted through a General Agent is eligible.
•BCBSTX reserves the right to terminate or modify this program at any time without notice.
•BCBSTX determines the issue dates of all policies and will be solely responsible for determining production counts for this promotion.
•BCBSTX will be the final arbiter of any issues related to this bonus payout and reserves the right to make final judgments on what is a qualifying policy.
•The SEP Retail Bonus Program is offered at the sole discretion of BCBSTX and can be terminated or modified at any time and without notice. Any subsequent bonus program is at the discretion of BCBSTX. Discretionary bonus programs may be modified to comply with state law or regulation.