NH| The New Hampshire Insurance Department issued Bulletin #INS 25-074-AB clarifying compensation practices for producers licensed to sell Medicare Advantage (MA) and Medicare Supplement (MS) plans, noting heightened consumer need due to carrier market exits and regional sales limits. Producers may not receive extra compensation directly tied to selling, soliciting, or negotiating insurance, but may enter into reasonable advisory agreements with consumers for services incidental to those sales, provided clear documentation and consumer consent are obtained in advance.
Key Points:
- Producers can charge reasonable fees for services that are incidental (not directly related) to MA or MS plan sales, such as after-hours consultations or claim assistance, so long as disclosures and consumer agreements are documented.
- The Department requires producers to retain detailed records of all incidental service contracts, billing, and consumer notifications, with any complaints reviewed individually for compliance with New Hampshire law.