Utterly Confused About Replacing Policies

[LifeWorth]

Hi folks, I am utterly confused about replacing existing health insurance coverage. If a client has a plan from a company that will last until the end of 2014, can the agent sell an ACA plan to that client, due to the client saving money because of the subsidy? If yes, does a policy replacement form need to be filled out? In other words, once the new policy is sold, what does the agent and/or the client need to do? Just have the client call the old company and cancel over the phone?

If the answer is no, why not?

I have heard all sorts of different things regarding this.

 

[Yagents]

Yes.
No replacement form needed.

Have client call current company and ask for bill to be mailed to them, and to be in control over payment and the transition, as there are many problems arising from buying on the exchange.

After new policy effective, have client call to terminate old policy.

EZ Peazy

 

[LifeWorth]

Yes.
No replacement form needed.

Have client call current company and ask for bill to be mailed to them, and to be in control over payment and the transition, as there are many problems arising from buying on the exchange.

After new policy effective, have client call to terminate old policy.

EZ Peazy

thanks friend.