Earn even more with our updated bonus program!
We’ve updated our 2020 bonus program for our fully insured public sector group business: all new business sold between July 1, 2020 and December 31, 2020 will receive double the case count and double the premium credit towards full year bonus program goals! We’ll count each case sold during this period twice when calculating the bonus.
Plus — even if a broker hits the program maximum of $100,000, they can earn an additional $50,000 on new premium written between July 1, 2020 and December 31, 2020 (with effective dates from July 1 through the end of 2020).
These bonuses are in addition to our standard commission schedule.
What sales are eligible for the Public Sector Group Business bonuses?
The bonuses reward brokers for new sales and persistency with public sector groups. Public sector groups include:
Brokers must maintain at least $5,000,000 in annual premiums from fully insured public sector groups to qualify. Fully insured public sector groups with Delta Dental PPO™ and Delta Dental PPO Plus Premier™ - type plans in New Jersey or Connecticut are eligible.
How is the Public Sector Business new sales bonus determined?
The new sales bonus is based on either:
Fully Insured Public Sector Group New Sales Bonus: Broker
|New Sales Bonus Level||New Cases||New Premium||New Sales Bonus|
|Level 2||5||OR||$150,000 - $499,999||2.00%|
|Level 3||10||$500,000 or more||3.00%|
Sales must be new, meaning the group does not already offer a Delta Dental plan in New Jersey or Connecticut. Sales are counted based on the effective date of the policy, starting January 1, 2020. Broker of Record transfers during the period of the Revised Broker Bonus program will not be included for bonus calculation purposes. Only new contracts sold will be included in the calculation of the number of contracts eligible for the bonus payments.
How is the Public Sector Group persistency bonus determined?
The persistency bonus is for retaining existing fully insured public sector business. Persistency is defined as:
“Delta Dental” refers to Delta Dental of New Jersey, Inc., Delta Dental of Connecticut, and affiliated companies. These companies are members, or affiliates of members, of the Delta Dental Plans Association.
Fully Insured Public Sector Group Persistency Bonus: Broker
|Persistency Bonus Level||Persistency 94% - 95.9%||Persistency 96% - 97.9%||Persistency 98% - 99.9%||Persistency 100%|
|Level 1 Bonus||0.10%||0.25%||0.5%||0.75%|
|Level 2 Bonus||0.25%||0.50%||0.75%||-|
|Level 3 Bonus||0.50%||0.75%||1.00%||-|
What else should brokers know?
Sample Bonus Calculations:
|Fully Insured Public Sector New Sales Bonus: Broker||Fully Insured Public Sector Persistency Bonus: Broker|
|New Policies Sold||5||New Sales Reached||Sales Bonus Level 1|
|New Annual Premium||$45,623.55||Annual Premium||$5,452,836.24|
|New Sales Bonus Level 1||2.00% bonus||Persistency Rate 94.78%||0.10% bonus|
|Bonus Paid||$912.47||Bonus Paid||$5,452.84|
|Fully Insured Public Sector Commercial Sales Bonus: Broker|
|New Policies Sold||2|
|New Annual Premium||$265,246.08|
|New Sales Bonus Level 1||0.20% bonus|
Thank you for your partnership with Delta Dental. For more information about our plans and this program, contact your Delta Dental account executive, or our Sales Department: email@example.com; 800-624-2633.
1 Level 1 New Sales Bonus Level offers no sales bonus but is used for determining the Persistency Bonus.