W9 Forms Now Required?

[yankee466]

I see that Hancock now mandates W9 forms be included with all LTC aps starting later this month (maybe not every state yet). Not seen anything from the other carriers as of yet. Looks like one more client raised eyebrow to me.....,but just more government regulations I imagine.

 

[VolAgent]

Doesn't this seem a bit redundant? Aren't you required to get the tax ID of the insured, payor and owner anyway?

 

[yankee466]

Doesn't this seem a bit redundant? Aren't you required to get the tax ID of the insured, payor and owner anyway?

yes...but how dare you question an insurance company on their logic!!!

I've had a couple people try to refuse to give me their social on an ap until I explained that no social means no LTC insurance. Something about "not subject to back up withholding" might be important to this process.