tmk1536 0211 top 5 reasons medicare supplement apps pend tmk1536 0211
TRANSCRIPT
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Top 5 Reasons Medicare Supplement
Apps Pend
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1. Problem: Application incorrectly or not fully completed
Solution: Make sure correct plan code is used as well as all questions fully answered and app signed where appropriate
Top 5 Reasons Medicare Supplement Apps Pend
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2. Problem: Missing, incomplete, or incorrect forms submitted
Solution: Review Compliance sheet for state where application signed, and verify correct, fully completed forms are submitted
Top 5 Reasons Medicare Supplement Apps Pend
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3. Problem: Copy of Medicare ID card showing only Medicare Part A is active
Solution: Make sure both Parts of Medicare are effective, if one Part recently applied for, indicate on application
Top 5 Reasons Medicare Supplement Apps Pend
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4. Problem: Prior coverage info not complete/no letter of termination of coverage
Solution: Provide the name of prior coverage carrier as well as start and end dates. If possible provide a copy of prior coverage carrier ID card. (Space to enter this information is under question 3a)
Don’t forget letter of termination of coverage!!
Top 5 Reasons Medicare Supplement Apps Pend
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5. Problem: Reason for voluntary/involuntary termination not answered
Solution: Ask applicant and record answer on application
Top 5 Reasons Medicare Supplement Apps Pend
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How long does it take for Med Supp business
to issue?
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Guarantee Issue with all documentation provided
2-4 business days from the time it is received at the Home Office. The issue date of a policy for the purpose of Recruiting Bonus is the date it is approved in Underwriting. From the time the app is mailed to the Home Office until the time the policy is received in the branch – 2-4 weeks depending on mail time
Use FedEx Overnight Shipping with a tracking number. USPS Priority Mail is not overnight.
How Long to Issue?
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Underwritten applications7-10 days provided applicant answers QAC call
Applications with missing information/underwriting requirements29 days
How Long to Issue?
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Email contains:Applicant’s Name & Policy NumberAgent’s Number and BranchList of underwriting requirements that are outstanding
Branch Manager has 21 days to meet request or app will be closed
Requested items are returned to [email protected] or Fax: 469-525-4210 (Alternate: 972-569-3678)
How are BMs notified of Underwriting Requirements?
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Where do I check my Med Supp
pending business?
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TMKOnline www.tmkonline.net/logon
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To View Pending Business
Click ‘Submitted/Inforce Business’
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To View Pending Business
Enter Insured Name, Policy Number, Writing Agent Number
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To View Pending Business
Click on Policy number to view Underwriting Notes
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Where do I check my Med Supp
commissions?
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To View Med Supp Commissions
Click ‘Agent Statements On-Line’
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To View Med Supp Commissions
Enter Agent Number to view both Month-end and Weekly Statements