Avoid unnecessary delays in underwriting new business by avoiding simple mistakes on the application. Here is a list of items that will delay new business processing.
- Plan type not listed
- Incomplete residential address
- Incomplete date of birth
- No requested effective date
- Personal history questions not fully completed (if not Open Enrollment or Guaranteed Issue)
- Medicare Part B enrollment date and/or Medicare number left blank
- Medicare coverage replacement information not completed
- Agent writing number not provided on the application
- Agent certification form not completed and signed
- Replacement forms not submitted when applicable
- Amount quoted on the application is less than the modal premium Stonebridge calculates (Agent will be contacted to verify that it is acceptable to process the draft for the new amount)
- No premium amount listed for Premium Collected (whether submitting a check or authorizing a draft, the premium amount must be listed on the application.)
- Stonebridge will not accept deposit slips in the place of a voided check
- No confirmation of Medicare Advantage disenrollment when replacing a Medicare Advantage plan (Stonebridge cannot issue a policy until this has been confirmed and coverage cannot overlap)
- No applicant’s signature (signature stamps CANNOT be utilized)
- No agent’s signature (signature stamps CANNOT be utilized)
- Application is received at the administrative office more than 30 days from the signature date
- Signature on application is in the future
- Signature on Bank Draft Authorization must be the same as on the signature card at the bank
- If two applicants are applying for coverage, Both applicants must provide a signature in the Billing Information Section.
- Temporary checks submitted as payment (Checks must be pre-printed from the bank or be accompanied by a verification letter on bank letterhead)
- A post-dated check submitted (NO POST DATED CHECKS ACCEPTED)
- A third party payor check is submitted (NO THIRD PARTY PAYOR CHECKS)