Getting Paid

[somarco]

For those planning on selling on the exchange, how do you envision the process from submission (21 pg app with financial data) to review and approval and then policy issue and commission (finders fee) payout?

Here is one scenario.

10.1.2013 you submit an exchange app for a 1.1.2014 eff date. That gives the exchange and carrier 90 days to review and approve or decline.

Yes, I said decline.

There might be a citizenship check such as eVerify. Might be a financial review by the Treasury. Or it may go direct to the carrier who will have to file with the Treasury for the premium subsidy.

In this case will you get paid in January? February? March?

What happens if the individual changes their mind and picks another plan while still in the open enrollment period?

Is the carrier notified? Who (if anyone) notifies the agent?

Or say the Treasury gets around to auditing the application in June and determines the individual was only eligible for a $400 monthly subsidy instead of an $800 subsidy.

What happens then?

Will (can) the policyholder cancel retroactively since this was "bait and switch"? If they do drop the plan, retroactive or not, what happens to your comp?

How many paper apps will be kicked back because someone forgot to check line 19 of section 4 on page 11? If an app is kicked back, how long before you know about it?

How many federal agencies will be involved in this process? HHS and Treasury at the least. Possibly DOL if an employer plan is involved. Can any one of them review and kick back the application for discrepancies?

Am I the only one that see's this as a fuster cluck?

 

[GreenSky]

It helps reduce the deficit so it must be good. Otherwise it will be an obamaload of work without compensation.

Rick

 

[YouGotMyMoney]

If they dont drop that paper app bs, there will be a lot of lost volume business. I know my friends who sell health wont be messing with paper apps like this.

I would be interested to know what % of health biz is written by agents who do less than 5 apps a mo, vs guys like my friends who do 50+ health apps a month. My feeling is business is driven by volume producers, and if its not an online app, no paper, then there be a lot of problems getting agents to push this.

 

[somarco]

Even the online app is a PITA. All that financial info. You need a CPA to help you fill it out.

 

[bluediamond]

I heard Michelle and the kids were going to check every application after they print them out so we will all be dead before we get paid.

What pisses me off is we're not going to know for months while I sit on the fence and decide whether or not to get out of the business.

 

[Yagents]

I'll refrain from using paper apps, online or not happening unless your my uncle/friend.

Sign up is done thru HHS exchange portal, then HHS sends carrier new client info, and sends the subsidy (not requested by carrier)

All bureau checks will happen right away on HHS website, that is what this giant data hub is for.

Online apps will not allow boxes to be missed

HHS will have a broker portal that you sign into. Once you're attached to the client, we should be good to go. I'm sure it will have a client list completed app function, or "pending" list.

Here in AZ, they were NOT going to allow clients to change their plan once inserted, but that was before they defaulted to HHS.

Clawbacks will be the clients responsibility in the following year. HHS will check IRS numbers upon application

I would assume first checks to us would be cut in March

Some of this is conjecture on my part, some educated responses.

 

[stuy119]

If online apps aren't happening, and all of this is paper, I want no part of it.

My participation is based on the fact that I'll be able to have a link from my website to a landing page where someone can fill out the app, and I'll get credit for it. Should they have a problem, they can call me for help.

Screw paper apps. This is 20-freakin'-13.

 

[taterpeeler]

with mapd plans I get paid about 2 weeks after cms approves. total time between sell and pay about 3 weeks

 

[ctg]

MAPD plans don't deal with subsidies and financials. CMS regulations are a pain, nothing compared to this.

Is this is a nightmare that just keeps on getting worse, or am I just borrowing trouble? I may be missing something.

 

[CHUMPS FROM OXFORD]

GET OUT! Still time? Probably not. Preparations should have began years ago.

Med Supps...There ya go. Go there.