You must complete a contract with each insurance company in order to be appointed to sell. For example, if you want to sell Medicare plans with Aetna, Cigna, and Anthem, you’ll need to complete a contract with each of those entities through your FMO.
Below is a checklist of what most insurance companies will require to become ready to sell:
- Copy of your current resident and non-resident state health insurance license
- Copy of your current E&O policy
- Completed legal questionnaire provided by the insurance company (you will get this from your Medicare FMO)
- Consenting to a background check
- Passing annual certification exam specific to that carrier. This is going to be specific to Medicare Advantage Plans and Prescription Drug Plans, however more and more Medicare Supplement companies are starting to implement certifications as well.
The time this process takes will depend the number of carriers you intend to broker for your clients.
Medicare is highly regulated and many of the carriers have different contracting and appointment processes to get their agents ready to sell (RTS). You will need to be patient during this process as it can take some time to get your approvals from each company.
Most insurance carriers require their certifications to be passed annually prior to the upcoming Medicare annual election period (AEP). Ask your immediate upline to to learn how to get certified to sell Medicare advantage plans, they will give you detailed instructions for each carrier.