A Commissionable Products is composed of the following: Issuer (Carrier), State(s), Product Type, and Plan Name. Commissionable Products need to be created prior to creating Commission Rates or Policies. They are also referred to as just ‘Products’ or sometimes ‘Plans.’
If an import is used to create the Commissionable Products, Issuers not in the Issuer table will automatically be added. When using the UI to add Commissionable Products, the Issuer must be selected from those already in the Issuer table.
The details in the ‘Plan’ (Name) are up to the Tenant. A different Product/Plan Name is needed whenever different rates are to be assigned to differentiate it from other Products. Other details can be useful to add to the name, for example State(s), age requirements. Some Tenants create their Plan Names to include Issuer, Plan, Year, State abbreviations (when only applicable for specific States), and Age (when only applicable for specific age brackets). Examples are ‘UHC Accident SafeGuard (FL, KY, OH, SC) 18-59’ and ‘UHC Accident SafeGuard (FL, KY, OH, SC) 60-64.’ Having details in the Plan field can be helpful when viewing the Agent’s PDF Statement.
Commission Activity section from Agent Statement with Plan highlighted.
While Comissio can support using State as a separate component, it is less maintenance and displays the information better if the state is in the Plan Name. When creating Products, it is best to select ‘All States’ in the ‘State’ field, or if State is left blank in the UI or in the Import, the system will bring in all the States. When the match is in the Plan name, there is no need to manage the State in the Commissionable Product or Commission Rates. Then the Plan name displayed to the Agents in their statements will more easily distinguish different Plans and factors that make rate different than another plan.
Commissionable Products can be deleted, but it requires there to be no dependencies, so it cannot be in a Policy or in any Commission Rates. If the Product is changed in the existing Policies, and the Plan Rate is deleted, the Product can then be deleted.
Commissionable Product List page
Commissionable Product – Edit Product detail page
Vested Products
Vested Products is a feature to prevent withholding funds Agents that are not vested for specific products. When Agents are in ‘Terminated’ Status, or ‘Terminated with Cause Status,’ and Vested is not checked in the Agent details, when a cycle is run, a ‘Terminated and Not Vested’ Adjustment is created to reduce their total net to $0.00. Vested Products is a way of creating an exception to this feature for Agents with Status ‘Terminated.’ So, that if you have an option ‘Vested’ checked in the Commissionable Product, then commissions for Policies with those Products are not to go into the total for the Adjustment.
This feature can be helpful to companies that have requirements for vesting, which means to only continue paying commissions after an Agent is terminated after they have completed some requirements, but have Products that because of statutory or contractual requirements, should continue to be paid to the Agent outside of those vesting requirements.
Vested option in Commissionable Products
To set a Product as Vested, check the option in the desired Commissionable Product.
Commissionable Product with Vested checkbox highlighted:
Commissionable Product List page with Vested Product outlined:
Vested Products effect on Terminated and Not Vested
When there are commissions from Policies whose Product is vested, then the commissions from those Policies will not be included in the Terminated and Not Vested Adjustment. In the following example, I will use commissions from an Ambetter where the Agent DD1203 gets $900.
Summary for Agent DD1203 showing Net Commissions from an Ambetter Policy:
Summary for Agent DD1203 showing net commissions from the Ambetter Policy remains but commissions of $5,790.04 from other Policies that do are not set up for Product Vesting are removed by a ‘Terminated and Not Vested’ Adjustment:
Additional Information on Vested Products
- The Import for Commissionable Products can be used to make a Product Vested by adding a Y in the column for Vested.
- Vested Products take precedence over the Forfeit Commissions feature. So, if an Agent is set to not receive commissions from an Issuer, if Products for that Issuer are set up as Vested Products, the Agent will still receive commissions from Policies for those Products.