TMK Top 5 Reasons Medicare Supplement Apps Pend TMK
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
TMK 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
TMK 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
TMK 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
TMK Problem: Reason for voluntary/involuntary termination not answered Solution: Ask applicant and record answer on application Top 5 Reasons Medicare Supplement Apps Pend
TMK How long does it take for Med Supp business to issue? TMK
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?
TMK Underwritten applications 7-10 days provided applicant answers QAC call Applications with missing information/underwriting requirements 29 days How Long to Issue?
TMK Via from How are BMs notified of Underwriting Requirements?
TMK contains: Applicant’s Name & Policy Number Agent’s Number and Branch List of underwriting requirements that are outstanding Branch Manager has 21 days to meet request or app will be closed Requested items are returned to or Fax: (Alternate: ) How are BMs notified of Underwriting Requirements?
TMK Where do I check my Med Supp pending business? TMK
TMKOnline
TMK To View Pending Business Click ‘Submitted/Inforce Business’
TMK To View Pending Business Enter Insured Name, Policy Number, Writing Agent Number
TMK To View Pending Business Click on Policy number to view Underwriting Notes
TMK Where do I check my Med Supp commissions? TMK
To View Med Supp Commissions Click ‘Agent Statements On-Line’
TMK To View Med Supp Commissions Enter Agent Number to view both Month-end and Weekly Statements