Many of you know Gene Page. He is Stone Hill’s regulation expert. Here is his synopsis of what the carriers are emphasizing in the fall of 2015 during their product certifications.
Some things have been emphasized in this year’s Medicare-certification trainings (exams taken during summer and autumn of 2015).
1- Many plans are requiring SOA forms for every enrollment. In other words, even when CMS may say it is OK (Phone enrollments or other non-face to face situations) carriers are saying that without a SOA form, you may not get paid, or it could be delayed while they check into the reason or circumstance for not having the SOA form. Save yourself the hassles and loss of commission by making sure every enrollment has a SOA form.
2- Enrollments are acknowledged as received when the plan receives them. In most cases you have 24 or 48 hours to submit enrollments to the plan from the time it is signed, however this is not the case onDecember 7th. ALL ENROLLMENTS MUST BE RECEIVED BY THE PLAN BY 12/07/2015 or they will not be accepted. The plan will not accept a postmark of 12/07/2015, the enrollment forms must be in their possession. That means we must be sure to fax any last minute enrollments.
3- We all know that enrollment forms and SOA forms must be retained for 10 years past the initial year, so that is 11 years total. CMS also expects us to maintain all records of our training materials and Certifications for that same ten year period.
Plan specific information may be shared with beneficiaries starting on Thursday, October 1st of this week. Enrollment forms may be accepted two weeks later on Thursday, October 15th.
Protect your enrollments and your income. Have a Great AEP.