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 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 If the binder payment is not made 30 days from our receipt of the enrollment application, the application is withdrawn.