Compensation Disclosure Statement

HCW discloses information regarding our compensation packages in order to promote a better understanding of our business relationship with our clients. This compensation disclosure statement explains our compensation packages as they relate to you and other clients.

Base Fee Structure

In some instances, we receive compensation directly from our clients in the form of fees. These fees are contingent upon the type of service(s) provided.

Commissions

Some clients prefer to pay for our services via commissions included in their insurance plans. In many situations, the insurance carriers have commissions as part of their filing with the NC Department of Insurance and they cannot remove them. HCW will advise clients when these instances occur if they wish to pay on a fee basis.

Mixed Payment

Other clients prefer to pay with both commissions and fees. In these situations, HCW will receive commission and fees totaling an amount agreed upon by the client and HCW.

Volume-Based Bonuses

HCW also receives compensation from carriers in the form of bonuses based on our overall volume of business. These bonus payments are not included in the administrative or operating expenses of a specific group and are not attributable to the rates of any specific group. These bonuses are part of the overall marketing expense for the various insurance carriers. Prior to purchasing products from these carriers, HCW will disclose to you whether the carriers provide such incentives to us.

HCW recognizes that businesses have many different needs, and we try to provide the flexibility in our compensation practices to accommodate all needs. Should you have any questions concerning our compensation packages or how these packages may affect you, please do not hesitate to contact our office.