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Bankers Fidelity: Underwriting and Compliance Updates for AEP

Posted by www.psmbrokerage.com Admin on Tue, Oct 02, 2018 @ 11:02 AM

Bankers Fidelity: Underwriting and Compliance Updates for AEP

As Medicare's busy season approaches, it is important to refresh yourself with the different requirements between carriers so you can be prepared when submitting business during AEP. Marketing with branded collateral to advertise a carrier to your clients can be tricky for compliance reasons. To stay compliant and submit business seamlessly this AEP, we have shared a few tips and tricks from our Compliance and Underwriting departments below. 


  • Submit your applications at least 30 days prior to the effective date. This allows underwriting adequate time to review your application. Bankers has begun accepting applications 90 days prior to the effective date starting October 1, 2018. 

  • The most common reason for a delayed application is due to the underwriter's need to complete counter offers because of an incorrect rate assumption. Review the Underwriting Guidelines and product-specific guidelines before submitting applications. This will help you determine if a product should be offered at a standard or preferred rate.

  • To check the status of a pending application or any actions needed, be sure to utilize the reporting, such as the Underwriting Application Tracker, available in your agent portal

  • Submitting business electronically cuts processing time 1 to 2 days. Utilize our eApp to submit your applications through your agent portal. 


  • Review each bulletin emailed to your inbox. Field bulletins include important Home Office announcements and product information regarding rate changes, updated applications, product withdrawals, and office closures. By becoming familiar with changes to our products, it is likely that your applications will process more smoothly.
  • Don't use scare tactics and make promises to your clients that you can't keep. It's easy to tie an intangible product like insurance to an emotional need, as long as that emotion isn't based on fear. 

  • Always request to use the Bankers Fidelity logo, whether in print or digitally. We'll be happy to work with you on approving the use of our logo and delivering an image that will be the correct fit for your needs. 

  • Have a need for branded marketing collateral? Log in to BOLT® Marketplace, powered by Vistaprint®Corporate, to customize Bankers Fidelity branded marketing pieces with your contact in formation. It's as simple as logging in, customizing, and ordering! 

  • Staying compliant on social media during AEP can be tricky. Don't be afraid to simply share posts from gov, CMS, and other carriers instead. 

Additional Updates:

Tags: Annual Enrollment Period, Medicare Supplement, AEP, bankers fidelity

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