Sept. 7, 2016

Binder Payment Required to Process Off-Exchange Apps

Off-exchange enrollment applications will only be processed if the first monthly premium or binder payment is included with the application.
 

• If submitting an enrollment application via fax: applicants must select the Bank Draft option.
   
• If submitting an enrollment application via mail: applicants should select the Bank Draft option or they could include a paper check, money order or certified check.

If an enrollment application is submitted without including a binder payment, the application is placed in “pending” status. We then make two attempts to collect the binder payment: one phone call and a follow-up letter to the applicant.

At this time, off-exchange applications submitted without binder payments cannot be tracked in the Retail Producer Portal. If the binder payment is not made 30 days from our receipt of the enrollment application, the application is withdrawn.